Summit Therapeutics PLC (NASDAQ:SMMT) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Summit Therapeutics PLC (NASDAQ:SMMT) have been assigned an average recommendation of “Moderate Buy” from the sixteen brokerages that are covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, five have issued a hold recommendation, eight have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $27.5833.

A number of equities analysts have recently commented on the stock. Stifel Nicolaus assumed coverage on shares of Summit Therapeutics in a report on Wednesday, April 8th. They set a “buy” rating and a $45.00 price objective for the company. Wall Street Zen downgraded shares of Summit Therapeutics from a “hold” rating to a “sell” rating in a report on Monday. HC Wainwright reduced their price objective on shares of Summit Therapeutics from $30.00 to $23.00 and set a “buy” rating for the company in a report on Monday, May 4th. Citigroup assumed coverage on shares of Summit Therapeutics in a report on Wednesday, April 8th. They set a “buy” rating for the company. Finally, Truist Financial raised shares of Summit Therapeutics to a “strong-buy” rating in a report on Wednesday, March 25th.

Hedge Funds Weigh In On Summit Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in SMMT. AQR Capital Management LLC lifted its holdings in shares of Summit Therapeutics by 5.0% during the 1st quarter. AQR Capital Management LLC now owns 65,623 shares of the company’s stock worth $1,266,000 after acquiring an additional 3,134 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Summit Therapeutics by 1.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 65,411 shares of the company’s stock worth $1,273,000 after acquiring an additional 694 shares during the period. Creative Planning lifted its holdings in Summit Therapeutics by 6.7% during the 2nd quarter. Creative Planning now owns 21,390 shares of the company’s stock valued at $455,000 after purchasing an additional 1,336 shares during the last quarter. Legal & General Group Plc lifted its holdings in Summit Therapeutics by 33.8% during the 2nd quarter. Legal & General Group Plc now owns 26,367 shares of the company’s stock valued at $561,000 after purchasing an additional 6,662 shares during the last quarter. Finally, Quantbot Technologies LP bought a new position in Summit Therapeutics during the 2nd quarter valued at about $132,000. 4.61% of the stock is owned by institutional investors.

Summit Therapeutics Price Performance

Shares of Summit Therapeutics stock opened at $15.85 on Wednesday. Summit Therapeutics has a fifty-two week low of $13.83 and a fifty-two week high of $30.98. The firm has a fifty day moving average price of $18.85 and a two-hundred day moving average price of $17.63. The company has a market cap of $12.30 billion, a PE ratio of -9.91 and a beta of -1.25.

Summit Therapeutics (NASDAQ:SMMT) last issued its quarterly earnings results on Thursday, April 30th. The company reported ($0.24) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.03. Analysts expect that Summit Therapeutics will post -1.17 earnings per share for the current fiscal year.

Summit Therapeutics Company Profile

Summit Therapeutics plc is a clinical‐stage biotechnology company dedicated to the discovery and development of precision medicines for serious and life‐threatening diseases. The company applies a targeted approach to drug design, focusing on novel mechanisms of action that differentiate its candidates from existing therapies.

Summit’s lead asset, ridinilazole (formerly SMT19969), is being developed to treat Clostridioides difficile infections and has received both Fast Track and Qualified Infectious Disease Product designations from the U.S.