Summit Therapeutics (NASDAQ:SMMT) Raised to "Sell" at Wall Street Zen

Key Points

• Wall Street Zen upgraded Summit Therapeutics (NASDAQ:SMMT) from a "strong sell" to a "sell" rating, signaling a slight improvement in sentiment but still a negative view.
• Broader analyst coverage remains mixed but leans positive, with a consensus rating of "Moderate Buy" and a consensus price target of $28.17 based on a mix of Strong Buy, Buy, Hold and Sell ratings.
• Shares opened at $16.11 (one‑year range $13.83–$30.98) and the company reported Q EPS of ($0.24) beating estimates of ($0.27); market cap was stated at $12.50 billion and analysts predict -1.31 EPS for the current fiscal year.

Summit Therapeutics (NASDAQ:SMMT - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "strong sell" rating to a "sell" rating in a research report issued to clients and investors on Saturday.

Several other equities research analysts have also issued reports on SMMT. Stifel Nicolaus began coverage on shares of Summit Therapeutics in a research note on Wednesday, April 8th. They set a "buy" rating and a $45.00 target price on the stock. Citizens Jmp reissued a "market outperform" rating and set a $40.00 target price on shares of Summit Therapeutics in a research note on Friday, January 30th. Jefferies Financial Group lowered shares of Summit Therapeutics from a "buy" rating to a "hold" rating and lowered their target price for the stock from $42.00 to $15.00 in a research note on Monday, March 16th. Citigroup began coverage on shares of Summit Therapeutics in a research note on Wednesday, April 8th. They set a "buy" rating on the stock. Finally, Piper Sandler lowered their target price on shares of Summit Therapeutics from $17.00 to $16.00 and set a "neutral" rating on the stock in a research note on Friday. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $28.17.

Summit Therapeutics Stock Performance

NASDAQ:SMMT opened at $16.11 on Friday. Summit Therapeutics has a one year low of $13.83 and a one year high of $30.98. The firm has a market cap of $12.50 billion, a price-to-earnings ratio of -11.11 and a beta of -1.25. The firm's fifty day moving average is $18.43 and its two-hundred day moving average is $17.87.

Summit Therapeutics (NASDAQ:SMMT - Get Free Report) last posted its earnings results on Thursday, April 30th. The company reported ($0.24) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.27) by $0.03. As a group, equities research analysts predict that Summit Therapeutics will post -1.31 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Crowley Wealth Management Inc. lifted its stake in Summit Therapeutics by 66.7% in the 3rd quarter. Crowley Wealth Management Inc. now owns 1,500 shares of the company's stock valued at $31,000 after buying an additional 600 shares in the last quarter. Ball & Co Wealth Management Inc. purchased a new position in Summit Therapeutics in the 1st quarter valued at about $28,000. Kestra Advisory Services LLC purchased a new position in Summit Therapeutics in the 4th quarter valued at about $28,000. Parallel Advisors LLC purchased a new position in Summit Therapeutics in the 3rd quarter valued at about $39,000. Finally, T. Rowe Price Investment Management Inc. lifted its stake in Summit Therapeutics by 2,654.4% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,873 shares of the company's stock valued at $33,000 after buying an additional 1,805 shares in the last quarter. 4.61% of the stock is owned by hedge funds and other institutional investors.

About Summit Therapeutics

Summit Therapeutics plc is a clinical‐stage biotechnology company dedicated to the discovery and development of precision medicines for serious and life‐threatening diseases. The company applies a targeted approach to drug design, focusing on novel mechanisms of action that differentiate its candidates from existing therapies.

Summit's lead asset, ridinilazole (formerly SMT19969), is being developed to treat Clostridioides difficile infections and has received both Fast Track and Qualified Infectious Disease Product designations from the U.S.

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