Summit Therapeutics PLC (SMMT) Rating Reiterated by Canaccord Genuity
Summit Therapeutics PLC (NASDAQ:SMMT)‘s stock had its “buy” rating reissued by equities researchers at Canaccord Genuity in a research note issued to investors on Friday. They currently have a $28.00 price target on the stock. Canaccord Genuity’s price objective points to a potential upside of 155.87% from the company’s current price.
Several other brokerages have also issued reports on SMMT. Zacks Investment Research lowered Summit Therapeutics PLC from a “buy” rating to a “hold” rating in a report on Saturday, April 1st. Oppenheimer Holdings, Inc. reiterated a “buy” rating on shares of Summit Therapeutics PLC in a report on Wednesday, March 22nd. Finally, ValuEngine upgraded Summit Therapeutics PLC from a “sell” rating to a “hold” rating in a report on Tuesday, June 6th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $25.00.
Shares of Summit Therapeutics PLC (SMMT) opened at 10.943 on Friday. The firm’s market cap is $135.45 million. The company has a 50-day moving average price of $11.16 and a 200-day moving average price of $11.08. Summit Therapeutics PLC has a 12 month low of $5.31 and a 12 month high of $19.75.
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An institutional investor recently bought a new position in Summit Therapeutics PLC stock. Renaissance Technologies LLC purchased a new stake in Summit Therapeutics PLC (NASDAQ:SMMT) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 20,102 shares of the company’s stock, valued at approximately $267,000. Renaissance Technologies LLC owned approximately 0.16% of Summit Therapeutics PLC at the end of the most recent quarter. 21.86% of the stock is currently owned by hedge funds and other institutional investors.
Summit Therapeutics PLC Company Profile
Summit Therapeutics plc is a biopharmaceutical company, which is engaged in drug development. The Company is focused on the discovery, development and commercialization of medicines for indications for which there are no existing or only inadequate therapies. It 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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