Summit Therapeutics PLC (SMMT) Given Consensus Rating of “Buy” by Brokerages

Summit Therapeutics PLC (NASDAQ:SMMT) has earned a consensus rating of “Buy” from the six brokerages that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, four have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $21.00.

Several equities analysts have recently weighed in on SMMT shares. Canaccord Genuity reissued a “buy” rating on shares of Summit Therapeutics in a research note on Monday, October 16th. Oppenheimer reissued a “buy” rating and issued a $24.00 price target on shares of Summit Therapeutics in a research note on Monday, October 16th. HC Wainwright set a $16.00 price target on shares of Summit Therapeutics and gave the stock a “buy” rating in a research note on Wednesday, December 27th. 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 price target on the stock. Finally, Zacks Investment Research raised shares of Summit Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday, January 5th.

Shares of Summit Therapeutics (NASDAQ SMMT) opened at $14.77 on Monday. Summit Therapeutics has a 52-week low of $8.80 and a 52-week high of $16.86. The stock has a market cap of $190.77, a PE ratio of -147.70 and a beta of 0.37.

Summit Therapeutics (NASDAQ:SMMT) last announced its earnings results on Wednesday, December 6th. The company reported ($0.20) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.73) by $0.53. Summit Therapeutics had a negative net margin of 0.95% and a negative return on equity of 10.90%. research analysts expect that Summit Therapeutics will post -0.59 earnings per share for the current fiscal year.

Several large investors have recently bought and sold shares of the company. Point72 Asset Management L.P. lifted its stake in shares of Summit Therapeutics by 0.7% in the third quarter. Point72 Asset Management L.P. now owns 806,471 shares of the company’s stock worth $10,121,000 after buying an additional 5,240 shares in the last quarter. Alyeska Investment Group L.P. purchased a new position in shares of Summit Therapeutics in the third quarter worth about $628,000. Sphera Funds Management LTD. lifted its stake in shares of Summit Therapeutics by 49.3% in the third 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. Highbridge Capital Management LLC purchased a new position in shares of Summit Therapeutics in the third quarter worth about $1,004,000. Finally, Acadian Asset Management LLC lifted its stake in shares of 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 in the last quarter. 29.30% of the stock is currently owned by hedge funds and other 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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