Summit Therapeutics (SMMT) Earns Buy Rating from Analysts at Janney Montgomery Scott

Janney Montgomery Scott started coverage on shares of Summit Therapeutics (NASDAQ:SMMT) in a research report released on Wednesday, May 2nd, Marketbeat reports. The firm issued a buy rating and a $27.00 target price on the stock.

A number of other research firms have also weighed in on SMMT. ValuEngine upgraded shares of Summit Therapeutics from a hold rating to a buy rating in a research report on Wednesday, May 2nd. HC Wainwright set a $20.00 target price on shares of Summit Therapeutics and gave the stock a buy rating in a research report on Tuesday, April 24th. Zacks Investment Research upgraded shares of Summit Therapeutics from a strong sell rating to a hold rating in a research report on Thursday, April 19th. SunTrust Banks started coverage on shares of Summit Therapeutics in a research note on Thursday, January 4th. They issued a buy rating and a $24.00 target price for the company. Finally, Needham & Company LLC dropped their price objective 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. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. The company has a consensus rating of Buy and a consensus price target of $25.38.

NASDAQ SMMT opened at $14.07 on Wednesday. Summit Therapeutics has a one year low of $13.65 and a one year high of $13.88. The company has a market capitalization of $189.66 million, a PE ratio of -18.76 and a beta of 0.80.

Summit Therapeutics (NASDAQ:SMMT) last issued its quarterly earnings results on Wednesday, April 11th. The company reported ($1.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.81) by ($0.34). The firm had revenue of $4.27 million during the quarter, compared to analysts’ expectations of $4.91 million. Summit Therapeutics had a negative return on equity of 146.46% and a negative net margin of 30.89%. sell-side analysts expect that Summit Therapeutics will post -2.46 EPS for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of SMMT. Acadian Asset Management LLC increased its position in Summit Therapeutics by 192.8% in the fourth quarter. Acadian Asset Management LLC now owns 144,083 shares of the company’s stock worth $1,595,000 after buying an additional 94,876 shares during the period. Renaissance Technologies LLC increased its holdings 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 purchasing an additional 15,600 shares during the period. Finally, Millennium Management LLC increased its holdings 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 during the period. 28.98% of the stock is currently owned by hedge funds and other institutional investors.

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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