Summit Therapeutics Inc. (NASDAQ:SMMT - Get Free Report) shares saw an uptick in trading volume on Monday . 3,435,964 shares were traded during trading, a decline of 9% from the previous session's volume of 3,786,129 shares.The stock last traded at $25.87 and had previously closed at $23.47.
Analyst Ratings Changes
A number of brokerages recently commented on SMMT. Citigroup upgraded shares of Summit Therapeutics from a "neutral" rating to a "buy" rating and upped their price target for the company from $23.00 to $35.00 in a research note on Wednesday, March 26th. The Goldman Sachs Group assumed coverage on Summit Therapeutics in a report on Friday, February 28th. They set a "buy" rating and a $42.00 price target for the company. HC Wainwright reaffirmed a "buy" rating on shares of Summit Therapeutics in a report on Monday. Evercore ISI started coverage on shares of Summit Therapeutics in a research report on Wednesday, March 12th. They issued an "outperform" rating and a $30.00 target price for the company. Finally, Cantor Fitzgerald reissued an "overweight" rating on shares of Summit Therapeutics in a report on Wednesday, April 23rd. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $37.50.
Check Out Our Latest Research Report on SMMT
Summit Therapeutics Trading Up 7.4 %
The company has a market cap of $18.60 billion, a P/E ratio of -90.03 and a beta of -0.46. The company has a 50 day moving average price of $20.95 and a 200-day moving average price of $20.15.
Summit Therapeutics (NASDAQ:SMMT - Get Free Report) last issued its earnings results on Monday, February 24th. The company reported ($0.08) EPS for the quarter, hitting the consensus estimate of ($0.08). The business had revenue of $0.20 million for the quarter. Equities analysts expect that Summit Therapeutics Inc. will post -0.3 earnings per share for the current year.
Institutional Investors Weigh In On Summit Therapeutics
A number of hedge funds and other institutional investors have recently bought and sold shares of SMMT. Brooklyn Investment Group bought a new position in Summit Therapeutics in the 4th quarter valued at approximately $29,000. Golden State Wealth Management LLC raised its stake in shares of Summit Therapeutics by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 1,502 shares of the company's stock valued at $29,000 after acquiring an additional 751 shares during the last quarter. National Bank of Canada FI acquired a new position in shares of Summit Therapeutics during the fourth quarter worth $30,000. Steward Partners Investment Advisory LLC grew its stake in shares of Summit Therapeutics by 56.1% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,503 shares of the company's stock worth $45,000 after purchasing an additional 900 shares during the last quarter. Finally, Fifth Third Bancorp increased its holdings in Summit Therapeutics by 1,400.0% in the first quarter. Fifth Third Bancorp now owns 3,000 shares of the company's stock valued at $58,000 after purchasing an additional 2,800 shares during the period. Institutional investors own 4.61% of the company's stock.
About Summit Therapeutics
(
Get Free Report)
Summit Therapeutics Inc, a biopharmaceutical company, focuses on discovery, development, and commercialization of patient, physician, caregiver, and societal friendly medicinal therapies in the United States, and the United Kingdom. The company's lead development candidate is Ivonescimab, a bispecific antibody for immunotherapy through blockade of PD-1 with the anti-angiogenesis; and anti-infectives portfolio includes SMT-738, a novel class of precision antibiotics for the treatment of multidrug resistant infections, which primarily includes carbapenem-resistant Enterobacteriaceae infections.
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