Summit Therapeutics (NASDAQ:SMMT) Upgraded to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Summit Therapeutics (NASDAQ:SMMT) from a sell rating to a hold rating in a report issued on Sunday morning.

Several other equities research analysts have also recently weighed in on the stock. Piper Sandler lowered their price target on shares of Summit Therapeutics from $17.00 to $16.00 and set a “neutral” rating for the company in a research report on Friday, May 1st. Truist Financial raised shares of Summit Therapeutics to a “strong-buy” rating in a research report on Wednesday, March 25th. Zacks Research raised shares of Summit Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Thursday, March 5th. Citigroup assumed coverage on shares of Summit Therapeutics in a research report on Wednesday, April 8th. They set a “buy” rating for the company. Finally, Stifel Nicolaus assumed coverage on shares of Summit Therapeutics in a research report on Wednesday, April 8th. They set a “buy” rating and a $45.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Summit Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $27.58.

Summit Therapeutics Stock Performance

Shares of SMMT opened at $18.08 on Friday. The company has a 50 day moving average price of $18.52 and a 200-day moving average price of $17.71. Summit Therapeutics has a fifty-two week low of $13.83 and a fifty-two week high of $30.98. The stock has a market capitalization of $14.03 billion, a PE ratio of -11.30 and a beta of -1.25.

Summit Therapeutics (NASDAQ:SMMT) last announced its quarterly earnings results on Thursday, April 30th. The company reported ($0.24) earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.03. Equities research analysts forecast that Summit Therapeutics will post -1.17 EPS for the current year.

Institutional Trading of Summit Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Parallel Advisors LLC increased its stake in shares of Summit Therapeutics by 4,178.0% in the first quarter. Parallel Advisors LLC now owns 2,139 shares of the company’s stock worth $41,000 after acquiring an additional 2,089 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Summit Therapeutics by 14.4% in the first quarter. Bank of New York Mellon Corp now owns 404,679 shares of the company’s stock worth $7,673,000 after acquiring an additional 50,923 shares during the period. Illinois Municipal Retirement Fund increased its stake in shares of Summit Therapeutics by 12.6% in the first quarter. Illinois Municipal Retirement Fund now owns 111,894 shares of the company’s stock worth $2,122,000 after acquiring an additional 12,527 shares during the period. Fifth Third Bancorp increased its stake in shares of Summit Therapeutics by 24.4% in the first quarter. Fifth Third Bancorp now owns 3,732 shares of the company’s stock worth $71,000 after acquiring an additional 732 shares during the period. Finally, Ball & Co Wealth Management Inc. acquired a new stake in shares of Summit Therapeutics in the first quarter worth $28,000. Institutional investors and hedge funds own 4.61% of the company’s stock.

Summit Therapeutics News Summary

Here are the key news stories impacting Summit Therapeutics this week:

• Positive Sentiment: HC Wainwright raised its FY2026 EPS estimate to a loss of $1.05 from $1.26, implying improved earnings expectations. Summit Therapeutics stock page
• Positive Sentiment: The firm also lifted quarterly forecasts for Q2 2026 to -$0.26 from -$0.31 and Q3 2026 to -$0.27 from -$0.32, which can be viewed as a modest improvement in outlook. Summit Therapeutics stock page
• Neutral Sentiment: HC Wainwright initiated or reiterated estimates for later periods, including FY2027 EPS of -$1.09 and quarterly losses around $0.27-$0.28, reinforcing that the company is still expected to remain unprofitable. Summit Therapeutics stock page
• Neutral Sentiment: The analyst maintained a Buy rating, which supports sentiment, but this was not a fresh upgrade. Summit Therapeutics stock page

About Summit Therapeutics

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.