Summit Therapeutics (NASDAQ:SMMT) Upgraded at Wall Street Zen

Key Points

• Summit Therapeutics was upgraded by Wall Street Zen from sell to hold, adding to a mixed but generally improving analyst backdrop.
• Several other firms have recently adjusted their views, and the stock now carries a Moderate Buy consensus with a $27.58 average price target, though some targets were cut sharply.
• The company reported a smaller-than-expected quarterly loss of $0.24 per share, and recent analyst revisions point to slightly better near-term earnings outlooks even though Summit is still expected to remain unprofitable.

Summit Therapeutics (NASDAQ:SMMT - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued to investors on Sunday.

Several other brokerages have also recently commented on SMMT. Zacks Research upgraded shares of Summit Therapeutics from a "strong sell" rating to a "hold" rating in a research note on Thursday, March 5th. Jefferies Financial Group lowered Summit Therapeutics from a "buy" rating to a "hold" rating and cut their price objective for the company from $42.00 to $15.00 in a research report on Monday, March 16th. HC Wainwright reduced their target price on Summit Therapeutics from $30.00 to $23.00 and set a "buy" rating on the stock in a report on Monday, May 4th. Stifel Nicolaus assumed coverage on Summit Therapeutics in a research report on Wednesday, April 8th. They issued a "buy" rating and a $45.00 target price on the stock. Finally, Citigroup started coverage on Summit Therapeutics in a research note on Wednesday, April 8th. They set a "buy" rating for the company. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Summit Therapeutics presently has a consensus rating of "Moderate Buy" and a consensus price target of $27.58.

Summit Therapeutics Price Performance

Summit Therapeutics stock opened at $18.08 on Friday. The stock has a market cap of $14.03 billion, a P/E ratio of -11.30 and a beta of -1.25. Summit Therapeutics has a 1 year low of $13.83 and a 1 year high of $30.98. The firm's 50 day moving average price is $18.52 and its 200-day moving average price is $17.71.

Summit Therapeutics (NASDAQ:SMMT - Get Free Report) last issued its earnings results on Thursday, April 30th. The company reported ($0.24) earnings per share for the quarter, topping analysts' consensus estimates of ($0.27) by $0.03. As a group, equities analysts expect that Summit Therapeutics will post -1.17 EPS for the current year.

Institutional Investors Weigh In On Summit Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Baker BROS. Advisors LP lifted its stake in shares of Summit Therapeutics by 7.9% in the 4th quarter. Baker BROS. Advisors LP now owns 36,391,063 shares of the company's stock valued at $636,480,000 after purchasing an additional 2,668,089 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Summit Therapeutics by 31.2% during the 3rd quarter. Vanguard Group Inc. now owns 11,379,728 shares of the company's stock valued at $235,105,000 after purchasing an additional 2,706,056 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Summit Therapeutics by 106.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,371,415 shares of the company's stock valued at $163,907,000 after buying an additional 4,832,592 shares during the period. State Street Corp raised its holdings in Summit Therapeutics by 4.3% during the 4th quarter. State Street Corp now owns 6,636,361 shares of the company's stock valued at $116,070,000 after buying an additional 274,425 shares during the period. Finally, Geode Capital Management LLC lifted its position in Summit Therapeutics by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 3,147,480 shares of the company's stock worth $55,063,000 after buying an additional 14,745 shares during the last quarter. 4.61% of the stock is currently owned by hedge funds and other institutional investors.

Summit Therapeutics News Summary

Here are the key news stories impacting Summit Therapeutics this week:

• Positive Sentiment: HC Wainwright raised its FY2026 EPS estimate to a loss of $1.05 from $1.26, implying improved earnings expectations. Summit Therapeutics stock page
• Positive Sentiment: The firm also lifted quarterly forecasts for Q2 2026 to -$0.26 from -$0.31 and Q3 2026 to -$0.27 from -$0.32, which can be viewed as a modest improvement in outlook. Summit Therapeutics stock page
• Neutral Sentiment: HC Wainwright initiated or reiterated estimates for later periods, including FY2027 EPS of -$1.09 and quarterly losses around $0.27-$0.28, reinforcing that the company is still expected to remain unprofitable. Summit Therapeutics stock page
• Neutral Sentiment: The analyst maintained a Buy rating, which supports sentiment, but this was not a fresh upgrade. Summit Therapeutics stock page

Summit Therapeutics Company Profile

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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