Analysts Set Summit Therapeutics PLC (NASDAQ:SMMT) PT at $33.08

Summit Therapeutics PLC (NASDAQ:SMMT) has earned an average rating of “Hold” from the seventeen research firms that are covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation, nine have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $33.0833.

Several equities analysts recently weighed in on the stock. Piper Sandler set a $40.00 price target on shares of Summit Therapeutics in a report on Wednesday, January 14th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Summit Therapeutics in a research note on Wednesday, October 8th. HC Wainwright reissued a “buy” rating on shares of Summit Therapeutics in a report on Wednesday, January 14th. Zacks Research upgraded shares of Summit Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Monday, October 13th. Finally, Guggenheim reaffirmed a “buy” rating and set a $40.00 price target on shares of Summit Therapeutics in a research report on Wednesday, October 22nd.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of SMMT. Ball & Co Wealth Management Inc. purchased a new stake in Summit Therapeutics in the 2nd quarter worth approximately $31,000. Crowley Wealth Management Inc. lifted its stake in shares of Summit Therapeutics by 66.7% in the 3rd quarter. Crowley Wealth Management Inc. now owns 1,500 shares of the company’s stock valued at $31,000 after purchasing an additional 600 shares during the period. SBI Securities Co. Ltd. boosted its holdings in Summit Therapeutics by 34.1% during the second quarter. SBI Securities Co. Ltd. now owns 1,756 shares of the company’s stock worth $37,000 after buying an additional 447 shares in the last quarter. Parallel Advisors LLC acquired a new stake in Summit Therapeutics during the third quarter valued at $39,000. Finally, PNC Financial Services Group Inc. increased its holdings in Summit Therapeutics by 325.5% in the second quarter. PNC Financial Services Group Inc. now owns 2,638 shares of the company’s stock valued at $56,000 after buying an additional 2,018 shares in the last quarter. 4.61% of the stock is currently owned by hedge funds and other institutional investors.

Summit Therapeutics Stock Performance

Summit Therapeutics stock opened at $17.04 on Thursday. The business’s 50-day simple moving average is $17.75 and its two-hundred day simple moving average is $21.15. The company has a market cap of $13.14 billion, a PE ratio of -13.74 and a beta of -1.51. Summit Therapeutics has a fifty-two week low of $15.55 and a fifty-two week high of $36.91.

Summit Therapeutics (NASDAQ:SMMT) last announced its quarterly earnings data on Monday, October 20th. The company reported ($0.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.17). As a group, analysts predict that Summit Therapeutics will post -0.3 EPS for the current fiscal year.

About Summit Therapeutics

Summit Therapeutics plc is a clinical‐stage biotechnology company dedicated to the discovery and development of precision medicines for serious and life‐threatening diseases. The company applies a targeted approach to drug design, focusing on novel mechanisms of action that differentiate its candidates from existing therapies.

Summit’s lead asset, ridinilazole (formerly SMT19969), is being developed to treat Clostridioides difficile infections and has received both Fast Track and Qualified Infectious Disease Product designations from the U.S.