Summit Therapeutics PLC (NASDAQ:SMMT) Receives Average Rating of "Moderate Buy" from Analysts

Shares of Summit Therapeutics PLC (NASDAQ:SMMT - Get Free Report) have earned an average recommendation of "Moderate Buy" from the fourteen ratings firms that are presently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $34.67.

SMMT has been the topic of a number of research reports. JMP Securities reissued a "market outperform" rating and set a $40.00 target price on shares of Summit Therapeutics in a report on Monday, June 2nd. Wall Street Zen raised shares of Summit Therapeutics from a "sell" rating to a "hold" rating in a report on Sunday, June 29th. HC Wainwright reaffirmed a "buy" rating and issued a $44.00 price objective on shares of Summit Therapeutics in a research note on Tuesday, July 1st. TD Cowen raised shares of Summit Therapeutics to a "strong-buy" rating in a research note on Thursday, May 8th. Finally, Leerink Partnrs raised shares of Summit Therapeutics to a "strong sell" rating in a research note on Wednesday, June 11th.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Cerity Partners LLC raised its holdings in Summit Therapeutics by 0.4% during the first quarter. Cerity Partners LLC now owns 113,654 shares of the company's stock worth $2,192,000 after buying an additional 440 shares during the last quarter. Exchange Traded Concepts LLC raised 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 buying an additional 647 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised 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 buying an additional 694 shares during the last quarter. Golden State Wealth Management LLC raised its holdings 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, CreativeOne Wealth LLC raised its holdings in Summit Therapeutics by 4.8% during the first quarter. CreativeOne Wealth LLC now owns 21,169 shares of the company's stock worth $408,000 after buying an additional 974 shares during the last quarter. Institutional investors and hedge funds own 4.61% of the company's stock.

Summit Therapeutics Trading Up 4.0%

Summit Therapeutics stock traded up $1.10 on Thursday, reaching $28.67. 1,789,205 shares of the stock were exchanged, compared to its average volume of 3,724,767. The firm has a fifty day moving average price of $23.07 and a two-hundred day moving average price of $21.95. The stock has a market cap of $21.29 billion, a PE ratio of -84.32 and a beta of -1.01. Summit Therapeutics has a twelve month low of $8.88 and a twelve month high of $36.91.

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

About Summit Therapeutics

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.