SUMMIT THERAPEU/S (SMMT) Upgraded to “Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of SUMMIT THERAPEU/S (NASDAQ:SMMT) from a hold rating to a buy rating in a research note published on Wednesday morning. Zacks Investment Research currently has $1.75 price objective on the stock.
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. “
Several other analysts have also recently issued reports on SMMT. Canaccord Genuity set a $3.00 price objective on SUMMIT THERAPEU/S and gave the company a buy rating in a research note on Thursday, August 16th. HC Wainwright set a $3.00 price target on SUMMIT THERAPEU/S and gave the company a buy rating in a research note on Friday, August 24th. Finally, ValuEngine cut SUMMIT THERAPEU/S from a sell rating to a strong sell rating in a research note on Thursday, September 27th. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the stock. The stock has an average rating of Hold and an average price target of $13.09.
SUMMIT THERAPEU/S (NASDAQ:SMMT) last announced its quarterly earnings data on Thursday, September 20th. The company reported $2.10 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.74) by $2.84. The business had revenue of $49.82 million for the quarter. SUMMIT THERAPEU/S had a return on equity of 58.72% and a net margin of 13.38%. As a group, sell-side analysts expect that SUMMIT THERAPEU/S will post 0.96 earnings per share for the current fiscal year.
A hedge fund recently raised its stake in SUMMIT THERAPEU/S stock. Royal Bank of Canada raised its holdings in SUMMIT THERAPEU/S (NASDAQ:SMMT) by 376.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,900 shares of the company’s stock after buying an additional 9,400 shares during the period. Royal Bank of Canada owned about 0.09% of SUMMIT THERAPEU/S worth $154,000 as of its most recent SEC filing. 25.05% of the stock is owned by hedge funds and other institutional investors.
About SUMMIT THERAPEU/S
Summit Therapeutics plc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of novel medicines to treat rare 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).
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