SunTrust Banks Initiates Coverage on Summit Therapeutics (SMMT)

Research analysts at SunTrust Banks assumed coverage on shares of Summit Therapeutics (NASDAQ:SMMT) in a report issued on Thursday, The Fly reports. The firm set a “buy” rating on the stock.

Several other brokerages have also commented on SMMT. Zacks Investment Research lowered shares of Summit Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 6th. Oppenheimer reaffirmed a “buy” rating and set a $24.00 price target on shares of Summit Therapeutics in a research report on Monday, September 11th. Canaccord Genuity reissued a “buy” rating and issued a $28.00 price objective on shares of Summit Therapeutics in a research report on Monday, September 11th. ValuEngine lowered shares of Summit Therapeutics from a “hold” rating to a “sell” rating in a research report on Thursday, October 5th. Finally, HC Wainwright reissued a “buy” rating and issued a $16.00 price objective on shares of Summit Therapeutics in a research report on Friday, December 1st. Two research analysts have rated the stock with a sell rating and four have given a buy rating to the company’s stock. Summit Therapeutics has an average rating of “Hold” and a consensus price target of $20.25.

Summit Therapeutics (NASDAQ:SMMT) opened at $11.14 on Thursday. The stock has a market cap of $155.05, a P/E ratio of -111.40 and a beta of 0.37. Summit Therapeutics has a one year low of $8.45 and a one year high of $16.86.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Susquehanna International Group LLP acquired a new stake in Summit Therapeutics during the 3rd quarter valued at $1,828,000. Acadian Asset Management LLC acquired a new stake in Summit Therapeutics during the 1st quarter valued at $171,000. Granite Point Capital Management L.P. grew its holdings in Summit Therapeutics by 106.7% during the 3rd quarter. Granite Point Capital Management L.P. now owns 242,113 shares of the company’s stock valued at $3,031,000 after purchasing an additional 125,000 shares in the last quarter. Alyeska Investment Group L.P. acquired a new stake in Summit Therapeutics during the 3rd quarter valued at $628,000. Finally, Sphera Funds Management LTD. grew its holdings in Summit Therapeutics by 49.3% during the 3rd quarter. Sphera Funds Management LTD. now owns 212,018 shares of the company’s stock valued at $2,654,000 after purchasing an additional 70,000 shares in the last quarter. 29.30% of the stock is owned by institutional investors and hedge funds.

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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).

The Fly

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