Summit Therapeutics PLC (SMMT) Downgraded by Zacks Investment Research
Summit Therapeutics PLC (NASDAQ:SMMT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued 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. “
Other equities analysts have also issued research reports about the company. Canaccord Genuity reiterated a “buy” rating and issued a $28.00 target price on shares of Summit Therapeutics PLC in a research note on Monday, September 11th. Oppenheimer Holdings, Inc. restated a “buy” rating and set a $24.00 price target on shares of Summit Therapeutics PLC in a research note on Monday, September 11th. Finally, ValuEngine downgraded Summit Therapeutics PLC from a “hold” rating to a “sell” rating in a report on Thursday, October 5th. Two research analysts have rated the stock with a sell rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $23.50.
Summit Therapeutics PLC (NASDAQ:SMMT) last released its earnings results on Thursday, August 31st. The company reported $1.10 earnings per share for the quarter, missing the consensus estimate of $1.38 by ($0.28). The business had revenue of $25.01 million for the quarter, compared to the consensus estimate 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, analysts anticipate that Summit Therapeutics PLC will post ($0.11) EPS for the current year.
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A hedge fund recently bought a new stake in Summit Therapeutics PLC stock. Renaissance Technologies LLC purchased a new stake in Summit Therapeutics PLC (NASDAQ:SMMT) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 20,102 shares of the company’s stock, valued at approximately $267,000. Renaissance Technologies LLC owned 0.16% of Summit Therapeutics PLC at the end of the most recent quarter. Institutional investors own 21.77% of the company’s stock.
About Summit Therapeutics PLC
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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