Summit Therapeutics PLC (NASDAQ:SMMT) Receives $33.08 Consensus Price Target from Brokerages

by · The Markets Daily

Shares of Summit Therapeutics PLC (NASDAQ:SMMT – Get Free Report) have been given a consensus recommendation of “Moderate Buy” by the sixteen ratings firms that are covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation, nine have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $33.0833.

Several brokerages recently weighed in on SMMT. JMP Securities reaffirmed a “market outperform” rating and issued a $40.00 target price on shares of Summit Therapeutics in a research report on Monday, October 20th. Guggenheim restated a “buy” rating and issued a $40.00 price objective on shares of Summit Therapeutics in a report on Wednesday, October 22nd. Barclays raised Summit Therapeutics from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $16.00 to $18.00 in a research note on Wednesday, December 17th. Wolfe Research started coverage on shares of Summit Therapeutics in a research report on Tuesday, November 18th. They set a “peer perform” rating for the company. Finally, Summit Redstone set a $18.00 price target on shares of Summit Therapeutics in a research report on Wednesday, December 17th.

View Our Latest Stock Report on Summit Therapeutics

Summit Therapeutics Stock Performance

Summit Therapeutics stock opened at $16.85 on Thursday. Summit Therapeutics has a 1 year low of $15.55 and a 1 year high of $36.91. The firm has a 50 day moving average price of $17.64 and a 200 day moving average price of $21.06. The company has a market cap of $12.99 billion, a price-to-earnings ratio of -13.59 and a beta of -1.51.

Summit Therapeutics (NASDAQ:SMMT – Get Free Report) last announced its quarterly earnings results on Monday, October 20th. The company reported ($0.31) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.17). Sell-side analysts predict that Summit Therapeutics will post -0.3 EPS for the current year.

Hedge Funds Weigh In On Summit Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in SMMT. Ball & Co Wealth Management Inc. acquired a new stake in Summit Therapeutics in the 2nd quarter valued at $31,000. Crowley Wealth Management Inc. lifted its stake in shares of Summit Therapeutics by 66.7% during the third quarter. Crowley Wealth Management Inc. now owns 1,500 shares of the company’s stock worth $31,000 after purchasing an additional 600 shares in the last quarter. SBI Securities Co. Ltd. boosted its position in shares of Summit Therapeutics by 34.1% in the second quarter. SBI Securities Co. Ltd. now owns 1,756 shares of the company’s stock worth $37,000 after buying an additional 447 shares during the period. Parallel Advisors LLC acquired a new stake in shares of Summit Therapeutics in the third quarter valued at about $39,000. Finally, PNC Financial Services Group Inc. grew its stake in shares of Summit Therapeutics by 325.5% in the second quarter. PNC Financial Services Group Inc. now owns 2,638 shares of the company’s stock valued at $56,000 after buying an additional 2,018 shares in the last quarter. Institutional investors and hedge funds own 4.61% of the company’s stock.

About Summit Therapeutics

(Get Free Report)

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.

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