Zacks Investment Research upgraded shares of Summit Therapeutics PLC (NASDAQ:SMMT) from a sell rating to a hold rating in a research report report published on Tuesday morning.

According to Zacks, “Summit Therapeutics PLC is engaged in the discovery and development of drug to treat the fatal muscle wasting disease Duchenne Muscular Dystrophy and infections caused by the bacteria C. difficile. Summit Therapeutics PLC is headquartered in Abingdon, the United Kingdom. “

A number of other research analysts have also commented on SMMT. Oppenheimer Holdings, Inc. reiterated a buy rating and set a $24.00 price target on shares of Summit Therapeutics PLC in a report on Monday, October 16th. Canaccord Genuity reiterated a buy rating on shares of Summit Therapeutics PLC in a report on Monday, October 16th. Finally, ValuEngine lowered Summit Therapeutics PLC from a hold rating to a sell rating in a report on Thursday, October 5th.

Summit Therapeutics PLC (NASDAQ SMMT) traded down $0.02 on Tuesday, reaching $10.69. The company had a trading volume of 39,439 shares, compared to its average volume of 22,224. Summit Therapeutics PLC has a 12-month low of $7.95 and a 12-month high of $16.86.

Summit Therapeutics PLC (NASDAQ:SMMT) last posted its earnings results on Thursday, August 31st. The company reported $1.10 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.38 by ($0.28). Summit Therapeutics PLC had a negative return on equity of 29,334.40% and a negative net margin of 12.44%. The company had revenue of $25.01 million during the quarter, compared to analyst estimates of $31.37 million. analysts predict that Summit Therapeutics PLC will post -1.19 earnings per share for the current year.

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Hedge funds have recently modified their holdings of the company. Renaissance Technologies LLC acquired a new position in shares of Summit Therapeutics PLC during the first quarter worth approximately $267,000. Alyeska Investment Group L.P. acquired a new position in shares of Summit Therapeutics PLC during the third quarter worth approximately $628,000. Highbridge Capital Management LLC acquired a new position in shares of Summit Therapeutics PLC during the third quarter worth approximately $1,004,000. Sphera Funds Management LTD. lifted its holdings in shares of Summit Therapeutics PLC by 49.3% during the third quarter. Sphera Funds Management LTD. now owns 212,018 shares of the company’s stock worth $2,654,000 after buying an additional 70,000 shares during the last quarter. Finally, Granite Point Capital Management L.P. lifted its holdings in shares of Summit Therapeutics PLC by 106.7% during the third quarter. Granite Point Capital Management L.P. now owns 242,113 shares of the company’s stock worth $3,031,000 after buying an additional 125,000 shares during the last quarter. Institutional investors own 19.71% of the company’s stock.

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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