Summit Therapeutics PLC (NASDAQ:SMMT) Receives Average Recommendation of "Moderate Buy" from Brokerages

Key Points

• Analysts give Summit Therapeutics a consensus rating of "Moderate Buy" from 16 firms (9 buy, 1 strong buy, 3 hold, 3 sell) with an average 1‑year price target of $32.25.
• Shares trade around $14.94 (52‑week range $13.83–$36.91) with a market cap of $11.58B; the company reported a quarterly EPS loss of $0.29 versus a $0.22 expected and analysts forecast about -0.3 EPS for the fiscal year.
• Summit's lead asset, ridinilazole, for C. difficile has Fast Track and QIDP designations, and institutional investors (including Vanguard and Norges Bank) have recently increased their stakes.

Shares of Summit Therapeutics PLC (NASDAQ:SMMT - Get Free Report) have received a consensus rating of "Moderate Buy" from the sixteen ratings firms that are currently covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $32.25.

Several research firms have issued reports on SMMT. Wolfe Research started coverage on Summit Therapeutics in a report on Tuesday, November 18th. They issued a "peer perform" rating on the stock. Citizens Jmp restated a "market outperform" rating and issued a $40.00 target price on shares of Summit Therapeutics in a report on Friday, January 30th. Piper Sandler set a $40.00 target price on Summit Therapeutics in a report on Wednesday, January 14th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Summit Therapeutics in a research report on Thursday, January 22nd. Finally, HC Wainwright cut their price objective on Summit Therapeutics from $40.00 to $30.00 and set a "buy" rating on the stock in a report on Tuesday, February 24th.

Summit Therapeutics Trading Down 2.9%

Shares of Summit Therapeutics stock opened at $14.94 on Friday. Summit Therapeutics has a 52 week low of $13.83 and a 52 week high of $36.91. The stock has a market cap of $11.58 billion, a PE ratio of -10.30 and a beta of -1.43. The company's 50-day moving average price is $16.29 and its two-hundred day moving average price is $18.67.

Summit Therapeutics (NASDAQ:SMMT - Get Free Report) last released its earnings results on Monday, February 23rd. The company reported ($0.29) EPS for the quarter, missing analysts' consensus estimates of ($0.22) by ($0.07). On average, equities analysts predict that Summit Therapeutics will post -0.3 EPS for the current fiscal year.

Institutional Investors Weigh In On Summit Therapeutics

Hedge funds have recently made changes to their positions in the company. Farther Finance Advisors LLC acquired a new stake in Summit Therapeutics during the 3rd quarter valued at $1,141,000. Vanguard Group Inc. raised its position in Summit Therapeutics by 31.2% during the third quarter. Vanguard Group Inc. now owns 11,379,728 shares of the company's stock valued at $235,105,000 after buying an additional 2,706,056 shares during the period. New York State Common Retirement Fund raised its position in Summit Therapeutics by 774.5% during the second quarter. New York State Common Retirement Fund now owns 256,890 shares of the company's stock valued at $5,467,000 after buying an additional 227,513 shares during the period. APEIRON CAPITAL Ltd lifted its stake in Summit Therapeutics by 9.2% in the 3rd quarter. APEIRON CAPITAL Ltd now owns 1,310,941 shares of the company's stock worth $27,084,000 after acquiring an additional 110,000 shares in the last quarter. Finally, Norges Bank acquired a new stake in Summit Therapeutics during the 2nd quarter worth about $29,576,000. Hedge funds and other institutional investors own 4.61% of the company's stock.

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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