Summit Therapeutics (SMMT) Lifted to “Hold” at Zacks Investment Research

Summit Therapeutics (NASDAQ:SMMT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Friday.

According to Zacks, “Summit Therapeutics PLC is engaged in the discovery and development of drug to treat the fatal muscle wasting disease Duchenne Muscular Dystrophy and infections caused by the bacteria C. difficile. Summit Therapeutics PLC is headquartered in Abingdon, the United Kingdom. “

SMMT has been the subject of several other reports. HC Wainwright reaffirmed a “buy” rating and set a $16.00 price objective on shares of Summit Therapeutics in a research note on Friday, December 1st. SunTrust Banks began coverage on shares of Summit Therapeutics in a research note on Thursday. They set a “buy” rating and a $24.00 price objective for the company. Canaccord Genuity reaffirmed a “buy” rating and set a $28.00 price objective on shares of Summit Therapeutics in a research note on Monday, September 11th. Oppenheimer reaffirmed a “buy” rating and set a $24.00 price objective on shares of Summit Therapeutics in a research note on Monday, September 11th. Finally, ValuEngine downgraded shares of Summit Therapeutics from a “hold” rating to a “sell” rating in a research note on Thursday, October 5th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $21.00.

Summit Therapeutics (NASDAQ SMMT) opened at $11.26 on Friday. The company has a market cap of $154.22, a PE ratio of -112.60 and a beta of 0.37. Summit Therapeutics has a one year low of $8.75 and a one year high of $16.86.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Susquehanna International Group LLP purchased a new position in shares of Summit Therapeutics during the third quarter valued at about $1,828,000. Granite Point Capital Management L.P. increased its position in shares of Summit Therapeutics by 106.7% during the third quarter. Granite Point Capital Management L.P. now owns 242,113 shares of the company’s stock valued at $3,031,000 after buying an additional 125,000 shares during the period. Alyeska Investment Group L.P. purchased a new position in shares of Summit Therapeutics during the third quarter valued at about $628,000. Sphera Funds Management LTD. increased its position in shares of Summit Therapeutics by 49.3% during the third quarter. Sphera Funds Management LTD. now owns 212,018 shares of the company’s stock valued at $2,654,000 after buying an additional 70,000 shares during the period. Finally, Highbridge Capital Management LLC purchased a new position in shares of Summit Therapeutics during the third quarter valued at about $1,004,000. Institutional investors own 29.30% of the company’s stock.

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About Summit Therapeutics

Summit Therapeutics plc is a biopharmaceutical company, which is engaged in drug development. The Company is focused on the discovery, development and commercialization of medicines for indications for which there are no existing or only inadequate therapies. It is conducting clinical programs focused on the genetic disease Duchenne muscular dystrophy (DMD) and the infectious disease Clostridium difficile infection (CDI).

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