Summit Therapeutics (SMMT) Given a $20.00 Price Target at HC Wainwright

Summit Therapeutics (NASDAQ:SMMT) has been assigned a $20.00 price objective by stock analysts at HC Wainwright in a research note issued on Wednesday. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s price target indicates a potential upside of 43.88% from the stock’s current price.

A number of other equities analysts also recently weighed in on the stock. Needham & Company LLC decreased their target price on shares of Summit Therapeutics from $30.00 to $27.00 and set a “buy” rating for the company in a research note on Thursday, April 12th. Zacks Investment Research raised shares of Summit Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, April 7th. ValuEngine raised shares of Summit Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday, March 2nd. BTIG Research began coverage on shares of Summit Therapeutics in a research note on Tuesday, February 13th. They set a “buy” rating and a $33.00 target price for the company. Finally, Oppenheimer raised their target price on shares of Summit Therapeutics from $24.00 to $30.00 and gave the company an “outperform” rating in a research note on Friday, January 26th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $25.14.

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SMMT stock opened at $13.90 on Wednesday. Summit Therapeutics has a 1 year low of $8.80 and a 1 year high of $16.86. The stock has a market capitalization of $187.17, a P/E ratio of -18.53 and a beta of 0.80.

Summit Therapeutics (NASDAQ:SMMT) last released its quarterly earnings results on Wednesday, April 11th. The company reported ($1.15) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.81) by ($0.34). Summit Therapeutics had a negative return on equity of 146.46% and a negative net margin of 30.89%. The company had revenue of $4.27 million during the quarter, compared to the consensus estimate of $4.91 million. analysts anticipate that Summit Therapeutics will post -3.13 EPS for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Millennium Management LLC increased its stake in shares of Summit Therapeutics by 29.5% during the fourth quarter. Millennium Management LLC now owns 99,873 shares of the company’s stock valued at $1,107,000 after purchasing an additional 22,759 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Summit Therapeutics by 15.4% during the fourth quarter. Renaissance Technologies LLC now owns 116,600 shares of the company’s stock valued at $1,292,000 after acquiring an additional 15,600 shares in the last quarter. Finally, Acadian Asset Management LLC increased its position in shares of Summit Therapeutics by 192.8% during the fourth quarter. Acadian Asset Management LLC now owns 144,083 shares of the company’s stock valued at $1,595,000 after acquiring an additional 94,876 shares in the last quarter. 29.03% of the stock is owned by institutional investors and hedge funds.

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Summit Therapeutics Company Profile

Summit Therapeutics plc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of novel medicines to treat genetic and infectious diseases in the United Kingdom and North America. It is conducting clinical programmes focused on the genetic disease Duchenne muscular dystrophy (DMD) and the infectious disease Clostridium difficile infection (CDI).

Analyst Recommendations for Summit Therapeutics (NASDAQ:SMMT)

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