Summit Therapeutics (NASDAQ:SMMT) has been assigned a consensus rating of “Buy” from the eight brokerages that are presently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12 month target price among brokers that have covered the stock in the last year is $26.00.

SMMT has been the subject of several recent analyst reports. HC Wainwright restated a “buy” rating and set a $16.00 target price on shares of Summit Therapeutics in a research note on Thursday, January 25th. SunTrust Banks initiated coverage on Summit Therapeutics in a research note on Thursday, January 4th. They set a “buy” rating and a $24.00 target price for the company. BTIG Research initiated coverage on Summit Therapeutics in a research note on Tuesday, February 13th. They set a “buy” rating and a $33.00 target price for the company. Needham & Company LLC decreased their target price on Summit Therapeutics from $30.00 to $27.00 and set a “buy” rating for the company in a research note on Thursday, April 12th. Finally, Zacks Investment Research cut Summit Therapeutics from a “buy” rating to a “hold” rating in a research note on Thursday, March 8th.

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Hedge funds and other institutional investors have recently modified their holdings of the business. Acadian Asset Management LLC lifted its stake in Summit Therapeutics by 192.8% in the fourth quarter. Acadian Asset Management LLC now owns 144,083 shares of the company’s stock valued at $1,595,000 after buying an additional 94,876 shares during the last quarter. Susquehanna International Group LLP purchased a new stake in Summit Therapeutics in the third quarter valued at approximately $1,828,000. Highbridge Capital Management LLC purchased a new stake in Summit Therapeutics in the third quarter valued at approximately $1,004,000. Alyeska Investment Group L.P. purchased a new stake in Summit Therapeutics in the third quarter valued at approximately $628,000. Finally, Point72 Asset Management L.P. lifted its stake in Summit Therapeutics by 0.7% in the third quarter. Point72 Asset Management L.P. now owns 806,471 shares of the company’s stock valued at $10,121,000 after buying an additional 5,240 shares during the last quarter. Institutional investors own 29.03% of the company’s stock.

SMMT stock opened at $13.52 on Friday. Summit Therapeutics has a fifty-two week low of $8.80 and a fifty-two week high of $16.86.

Summit Therapeutics (NASDAQ:SMMT) last posted its earnings results on Wednesday, April 11th. The company reported ($1.15) earnings per share for the quarter, missing the consensus estimate of ($0.81) by ($0.34). The business had revenue of $4.27 million for the quarter, compared to analysts’ expectations of $4.91 million. Summit Therapeutics had a negative return on equity of 140.73% and a negative net margin of 30.89%. analysts anticipate that Summit Therapeutics will post -3.13 earnings per share for the current fiscal year.

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About Summit Therapeutics

Summit Therapeutics plc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of novel medicines to treat genetic and infectious diseases in the United Kingdom and North America. It is conducting clinical programmes focused on the genetic disease Duchenne muscular dystrophy (DMD) and the infectious disease Clostridium difficile infection (CDI).

Analyst Recommendations for Summit Therapeutics (NASDAQ:SMMT)

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