Summit Therapeutics PLC (NASDAQ:SMMT) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Wednesday.

According to Zacks, “Summit Therapeutics PLC is engaged in the discovery and development of drug to treat the fatal muscle wasting disease Duchenne Muscular Dystrophy and infections caused by the bacteria C. difficile. Summit Therapeutics PLC is headquartered in Abingdon, the United Kingdom. “

A number of other equities research analysts have also recently commented on SMMT. ValuEngine upgraded shares of Summit Therapeutics PLC from a “sell” rating to a “hold” rating in a report on Tuesday, June 6th. Canaccord Genuity restated a “buy” rating and issued a $28.00 price target on shares of Summit Therapeutics PLC in a report on Friday, June 16th. Finally, Oppenheimer Holdings, Inc. set a $24.00 price target on shares of Summit Therapeutics PLC and gave the stock a “buy” rating in a report on Thursday, June 22nd. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Summit Therapeutics PLC currently has an average rating of “Buy” and an average price target of $25.00.

Shares of Summit Therapeutics PLC (NASDAQ SMMT) traded down 1.37% during trading on Wednesday, hitting $14.39. 5,300 shares of the stock traded hands. Summit Therapeutics PLC has a 1-year low of $5.31 and a 1-year high of $19.75. The firm’s market capitalization is $178.16 million. The firm has a 50-day moving average of $13.23 and a 200-day moving average of $12.09.

Summit Therapeutics PLC (NASDAQ:SMMT) last posted its quarterly earnings results on Thursday, August 31st. The company reported $1.10 EPS for the quarter, missing analysts’ consensus estimates of $1.38 by $0.28. The company had revenue of $25.01 million during the quarter, compared to analyst estimates of $31.37 million. Summit Therapeutics PLC had a negative return on equity of 29,334.40% and a negative net margin of 12.44%. On average, equities analysts forecast that Summit Therapeutics PLC will post ($0.60) earnings per share for the current year.

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An institutional investor recently bought a new position in Summit Therapeutics PLC stock. Acadian Asset Management LLC acquired a new stake in shares of Summit Therapeutics PLC (NASDAQ:SMMT) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 12,850 shares of the company’s stock, valued at approximately $171,000. Acadian Asset Management LLC owned about 0.10% of Summit Therapeutics PLC at the end of the most recent reporting period. 21.77% of the stock is owned by hedge funds and other institutional investors.

Summit Therapeutics PLC Company Profile

Summit Therapeutics plc is a biopharmaceutical company, which is engaged in drug development. The Company is focused on the discovery, development and commercialization of medicines for indications for which there are no existing or only inadequate therapies. It is conducting clinical programs focused on the genetic disease Duchenne muscular dystrophy (DMD) and the infectious disease Clostridium difficile infection (CDI).

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