Summit Therapeutics PLC (SMMT) Stock Price Up 7.5% on Analyst Upgrade
Shares of Summit Therapeutics PLC (NASDAQ:SMMT) traded up 7.5% on Wednesday after Needham & Company raised their price target on the stock from $22.00 to $30.00. Needham & Company currently has a buy rating on the stock. Summit Therapeutics PLC traded as high as $15.70 and last traded at $15.43, with a volume of 703,661 shares trading hands. The stock had previously closed at $14.35.
SMMT has been the topic of a number of other research reports. HC Wainwright assumed coverage on shares of Summit Therapeutics PLC in a research note on Friday, September 16th. They issued a “buy” rating and a $26.00 target price on the stock. Canaccord Genuity reissued a “buy” rating and issued a $14.00 target price on shares of Summit Therapeutics PLC in a research note on Friday, September 9th. Zacks Investment Research cut shares of Summit Therapeutics PLC from a “hold” rating to a “sell” rating in a research note on Friday, June 24th. Janney Montgomery Scott assumed coverage on shares of Summit Therapeutics PLC in a research note on Tuesday, June 21st. They issued a “buy” rating on the stock. Finally, Oppenheimer Holdings Inc. reissued a “buy” rating on shares of Summit Therapeutics PLC in a research note on Thursday, June 16th. Six analysts have rated the stock with a buy rating, Summit Therapeutics PLC presently has an average rating of “Buy” and a consensus target price of $21.00.
An institutional investor recently raised its position in Summit Therapeutics PLC stock. AXA boosted its position in shares of Summit Therapeutics PLC (NASDAQ:SMMT) by 1.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 382,705 shares of the company’s stock after buying an additional 5,500 shares during the period. AXA owned about 3.12% of Summit Therapeutics PLC worth $2,989,000 as of its most recent SEC filing. 23.43% of the stock is owned by hedge funds and other institutional investors.
The company’s 50-day moving average price is $7.48 and its 200-day moving average price is $7.68. The stock’s market cap is $189.82 million.
About Summit Therapeutics PLC
Summit Therapeutics plc, formerly Summit Corporation plc, is a United Kingdom-based biopharmaceutical company. The Company is focused on the discovery, development and commercialization of medicines for indications for which there are no existing or only inadequate therapies. The Company is conducting clinical programs focused on the genetic disease Duchenne muscular dystrophy (DMD) and the infectious disease Clostridium difficile infection (CDI).
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