Summit Therapeutics PLC (NASDAQ:SMMT) Given Consensus Rating of "Moderate Buy" by Analysts

Shares of Summit Therapeutics PLC (NASDAQ:SMMT - Get Free Report) have received an average recommendation of "Moderate Buy" from the thirteen research firms that are presently covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $35.09.

A number of research firms have recently commented on SMMT. Jefferies Financial Group set a $44.00 price target on Summit Therapeutics and gave the stock a "buy" rating in a research report on Friday, April 25th. Summit Redstone set a $35.00 target price on shares of Summit Therapeutics in a report on Wednesday, March 26th. JMP Securities reiterated a "market outperform" rating and issued a $40.00 price target on shares of Summit Therapeutics in a report on Monday, June 2nd. Cantor Fitzgerald restated an "overweight" rating on shares of Summit Therapeutics in a report on Wednesday, April 23rd. Finally, Evercore ISI assumed coverage on shares of Summit Therapeutics in a research note on Wednesday, March 12th. They issued an "outperform" rating and a $30.00 target price for the company.

Institutional Trading of Summit Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in SMMT. Cerity Partners LLC grew its position in shares of Summit Therapeutics by 0.4% in the 1st quarter. Cerity Partners LLC now owns 113,654 shares of the company's stock valued at $2,192,000 after acquiring an additional 440 shares during the period. Exchange Traded Concepts LLC grew its holdings in Summit Therapeutics by 11.4% during the first quarter. Exchange Traded Concepts LLC now owns 6,328 shares of the company's stock worth $122,000 after purchasing an additional 647 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Summit Therapeutics by 1.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 65,411 shares of the company's stock worth $1,273,000 after purchasing an additional 694 shares during the period. Golden State Wealth Management LLC increased its position in Summit Therapeutics by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 1,502 shares of the company's stock worth $29,000 after buying an additional 751 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC raised its stake in Summit Therapeutics by 56.1% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,503 shares of the company's stock valued at $45,000 after buying an additional 900 shares during the period. 4.61% of the stock is owned by institutional investors.

Summit Therapeutics Stock Performance

NASDAQ:SMMT traded up $0.43 during trading hours on Friday, hitting $21.03. The stock had a trading volume of 67,629 shares, compared to its average volume of 3,741,711. The business's 50 day moving average is $23.39 and its 200-day moving average is $21.10. The company has a market cap of $15.62 billion, a price-to-earnings ratio of -61.92 and a beta of -1.06. Summit Therapeutics has a one year low of $6.78 and a one year high of $36.91.

Summit Therapeutics (NASDAQ:SMMT - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.01. On average, sell-side analysts anticipate that Summit Therapeutics will post -0.3 EPS for the current fiscal year.

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.