Summit Therapeutics PLC (SMMT) – What Are Researchers Saying About This Stock?

Summit Therapeutics PLC (NASDAQ:SMMT) has received a consensus rating of “Moderate Buy” from the nineteen research firms that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $28.61.

A number of research analysts have recently commented on the stock. Jefferies Financial Group reissued a “buy” rating on shares of Summit Therapeutics in a research report on Monday, October 26th. Guggenheim reaffirmed a “buy” rating on shares of Summit Therapeutics in a report on Wednesday, August 26th. The Goldman Sachs Group set a $41.00 target price on shares of Summit Therapeutics and gave the company a “buy” rating in a research note on Tuesday, September 29th. Barclays lifted their price target on Summit Therapeutics from $18.00 to $20.00 and gave the stock an “equal weight” rating in a report on Thursday, October 1st. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Summit Therapeutics in a research report on Tuesday, September 22nd.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in SMMT. Ieq Capital LLC acquired a new position in shares of Summit Therapeutics during the 3rd quarter worth approximately $1,179,000. Z3 Capital Partners LLC bought a new stake in Summit Therapeutics in the 3rd quarter valued at $618,000. Global Retirement Partners LLC lifted its holdings in Summit Therapeutics by 200.0% during the 3rd quarter. Global Retirement Partners LLC now owns 2,058 shares of the company’s stock valued at $35,000 after purchasing an additional 1,372 shares during the last quarter. Rothschild Investment LLC lifted its holdings in Summit Therapeutics by 25,764.3% during the 3rd quarter. Rothschild Investment LLC now owns 3,621 shares of the company’s stock valued at $61,000 after purchasing an additional 3,607 shares during the last quarter. Finally, NINE MASTS CAPITAL Ltd acquired a new stake in Summit Therapeutics during the 3rd quarter valued at $474,000. 4.61% of the stock is currently owned by institutional investors.

Summit Therapeutics Stock Down 0.1%

Shares of Summit Therapeutics stock opened at $17.83 on Wednesday. The stock has a market cap of $14.26 billion, a P/E ratio of -16.66 and a beta of -1.49. Summit Therapeutics has a 12-month low of $12.07 and a 12-month high of $29.23. The business’s 50 day moving average is $16.41 and its 200-day moving average is $16.15.

Summit Therapeutics Company Profile

Summit Therapeutics is a clinical-stage biopharmaceutical company focused on developing medicines for cancer. Its lead candidate is ivonescimab, a bispecific antibody designed to target both PD-1 and VEGF, two pathways involved in tumor growth and the immune response. The company is evaluating the treatment in clinical trials for multiple types of cancer. Summit licensed rights to develop and commercialize ivonescimab from China-based Akeso in 2022. Summit’s licensed territory covers markets outside China, including the United States, Canada, Europe and Japan.