Summit Therapeutics’ (SMMT) “Overweight” Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald reiterated their overweight rating on shares of Summit Therapeutics (NASDAQ:SMMT) in a research note published on Monday,Benzinga reports.

Other equities analysts have also recently issued reports about the company. Summit Redstone set a $21.00 price target on Summit Therapeutics in a report on Tuesday, August 19th. Guggenheim started coverage on shares of Summit Therapeutics in a research note on Wednesday, September 3rd. They issued a “buy” rating and a $40.00 target price for the company. UBS Group began coverage on shares of Summit Therapeutics in a report on Tuesday, July 1st. They issued a “buy” rating and a $30.00 target price on the stock. JMP Securities reaffirmed a “market outperform” rating and set a $40.00 price target on shares of Summit Therapeutics in a research note on Wednesday, September 3rd. Finally, Leerink Partners began coverage on shares of Summit Therapeutics in a report on Wednesday, June 11th. They set an “underperform” rating and a $12.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, one has issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $33.79.

Summit Therapeutics Trading Down 6.5%

Shares of SMMT opened at $17.60 on Monday. Summit Therapeutics has a 12-month low of $15.55 and a 12-month high of $36.91. The stock has a market cap of $13.07 billion, a P/E ratio of -17.43 and a beta of -1.02. The company has a 50-day moving average of $25.67 and a two-hundred day moving average of $23.12.

Summit Therapeutics (NASDAQ:SMMT) last released its quarterly earnings results on Monday, August 11th. The company reported ($0.76) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.66). As a group, analysts forecast that Summit Therapeutics will post -0.3 EPS for the current fiscal year.

Institutional Trading of Summit Therapeutics

A number of institutional investors have recently modified their holdings of SMMT. Dimensional Fund Advisors LP lifted its position in Summit Therapeutics by 358.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 205,337 shares of the company’s stock valued at $3,664,000 after buying an additional 160,592 shares in the last quarter. Hsbc Holdings PLC acquired a new stake in Summit Therapeutics in the 4th quarter valued at $188,000. Northern Trust Corp increased its holdings in Summit Therapeutics by 1.6% in the 4th quarter. Northern Trust Corp now owns 871,402 shares of the company’s stock valued at $15,550,000 after purchasing an additional 14,075 shares in the last quarter. Ameriprise Financial Inc. acquired a new position in shares of Summit Therapeutics during the fourth quarter worth about $406,000. Finally, BNP Paribas Financial Markets purchased a new stake in shares of Summit Therapeutics in the fourth quarter worth about $8,801,000. Hedge funds and other institutional investors own 4.61% of the company’s stock.

Summit Therapeutics Company Profile

Summit Therapeutics Inc, a biopharmaceutical company, focuses on discovery, development, and commercialization of patient, physician, caregiver, and societal friendly medicinal therapies in the United States, and the United Kingdom. The company’s lead development candidate is Ivonescimab, a bispecific antibody for immunotherapy through blockade of PD-1 with the anti-angiogenesis; and anti-infectives portfolio includes SMT-738, a novel class of precision antibiotics for the treatment of multidrug resistant infections, which primarily includes carbapenem-resistant Enterobacteriaceae infections.