Analysts Set Summit Therapeutics PLC (NASDAQ:SMMT) PT at $35.00

Key Points

• Summit Therapeutics PLC has received a consensus rating of "Moderate Buy" from fourteen ratings firms, with two analysts recommending a sell and eleven recommending a buy.
• The average 12-month target price among analysts is $35.00, reflecting a potential upside for investors considering the stock.
• The company reported an EPS of (0.76), missing analysts' expectations of (0.10), indicating challenges in its recent financial performance.

Shares of Summit Therapeutics PLC (NASDAQ:SMMT - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the sixteen analysts that are presently covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a sell recommendation, one has issued a hold recommendation, eleven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $32.8462.

SMMT has been the topic of a number of research analyst reports. The Goldman Sachs Group boosted their target price on Summit Therapeutics from $37.00 to $41.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. JMP Securities reiterated a "market outperform" rating and issued a $40.00 target price on shares of Summit Therapeutics in a research report on Tuesday. TD Cowen raised Summit Therapeutics to a "strong-buy" rating in a research note on Thursday, May 8th. Leerink Partners began coverage on Summit Therapeutics in a research note on Wednesday, June 11th. They set an "underperform" rating and a $12.00 price objective on the stock. Finally, Jefferies Financial Group set a $44.00 price objective on Summit Therapeutics and gave the stock a "buy" rating in a research note on Friday, April 25th.

Summit Therapeutics Trading Up 1.2%

Shares of NASDAQ:SMMT traded up $0.3180 during mid-day trading on Monday, reaching $26.3280. The stock had a trading volume of 390,827 shares, compared to its average volume of 3,600,433. The company has a market cap of $19.56 billion, a P/E ratio of -26.08 and a beta of -1.06. Summit Therapeutics has a 1 year low of $11.76 and a 1 year high of $36.91. The business's 50 day moving average price is $24.89 and its 200 day moving average price is $22.88.

Summit Therapeutics (NASDAQ:SMMT - Get Free Report) last posted its earnings results on Monday, August 11th. The company reported ($0.76) EPS for the quarter, missing analysts' consensus estimates of ($0.10) by ($0.66). Analysts predict that Summit Therapeutics will post -0.3 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Summit Therapeutics

Several large investors have recently added to or reduced their stakes in SMMT. Wells Fargo & Company MN increased its stake in Summit Therapeutics by 79.2% during the fourth quarter. Wells Fargo & Company MN now owns 95,265 shares of the company's stock worth $1,700,000 after acquiring an additional 42,090 shares during the last quarter. Invesco Ltd. increased its stake in Summit Therapeutics by 435.7% during the fourth quarter. Invesco Ltd. now owns 399,050 shares of the company's stock worth $7,121,000 after acquiring an additional 324,555 shares during the last quarter. Summit Investment Advisors Inc. increased its stake in Summit Therapeutics by 12.2% during the fourth quarter. Summit Investment Advisors Inc. now owns 9,621 shares of the company's stock worth $172,000 after acquiring an additional 1,044 shares during the last quarter. Barclays PLC grew its stake in shares of Summit Therapeutics by 32.0% during the fourth quarter. Barclays PLC now owns 330,146 shares of the company's stock valued at $5,891,000 after buying an additional 80,028 shares during the last quarter. Finally, Guggenheim Capital LLC bought a new position in shares of Summit Therapeutics during the fourth quarter valued at approximately $765,000. 4.61% of the stock is owned by institutional investors.

Summit Therapeutics Company Profile

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.