Summit Therapeutics (NASDAQ:SMMT)‘s stock had its “buy” rating reaffirmed by stock analysts at HC Wainwright in a report issued on Thursday. They currently have a $16.00 target price on the stock. HC Wainwright’s price target indicates a potential upside of 39.74% from the company’s previous close.

Several other equities analysts have also recently commented on the stock. Zacks Investment Research raised shares of Summit Therapeutics from a “sell” rating to a “hold” rating in a research note on Tuesday, November 14th. Canaccord Genuity reaffirmed a “buy” rating on shares of Summit Therapeutics in a research note on Monday, October 16th. Oppenheimer reaffirmed a “buy” rating and set a $24.00 price objective on shares of Summit Therapeutics in a research note on Monday, October 16th. Finally, ValuEngine cut shares of Summit Therapeutics from a “hold” rating to a “sell” rating in a research note on Thursday, October 5th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. Summit Therapeutics presently has a consensus rating of “Hold” and a consensus target price of $20.25.

Shares of Summit Therapeutics (SMMT) traded down $0.36 during trading hours on Thursday, reaching $11.45. 10,400 shares of the company traded hands, compared to its average volume of 22,047. Summit Therapeutics has a 12 month low of $7.95 and a 12 month high of $16.86.

A number of large investors have recently modified their holdings of SMMT. Renaissance Technologies LLC purchased a new position in Summit Therapeutics in the 1st quarter worth approximately $267,000. Alyeska Investment Group L.P. purchased a new position in Summit Therapeutics in the 3rd quarter worth approximately $628,000. Highbridge Capital Management LLC purchased a new position in Summit Therapeutics in the 3rd quarter worth approximately $1,004,000. Susquehanna International Group LLP purchased a new position in Summit Therapeutics in the 3rd quarter worth approximately $1,828,000. Finally, Sphera Funds Management LTD. grew its stake in Summit Therapeutics by 49.3% in the 3rd quarter. Sphera Funds Management LTD. now owns 212,018 shares of the company’s stock worth $2,654,000 after buying an additional 70,000 shares in the last quarter. 29.30% of the stock is owned by institutional investors.

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About Summit Therapeutics

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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