Summit Therapeutics (SMMT) Rating Lowered to Sell at Zacks Investment Research
Summit Therapeutics (NASDAQ:SMMT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Thursday.
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 recently commented on SMMT. Oppenheimer reaffirmed a “buy” rating and set a $24.00 price target on shares of Summit Therapeutics in a research report on Monday, September 11th. Canaccord Genuity reaffirmed a “buy” rating and set a $28.00 price target on shares of Summit Therapeutics in a research report on Monday, September 11th. ValuEngine cut Summit Therapeutics from a “hold” rating to a “sell” rating in a research report on Thursday, October 5th. Finally, HC Wainwright reiterated a “buy” rating and set a $16.00 price objective on shares of Summit Therapeutics in a research note on Friday, December 1st. Two equities research analysts have rated the stock with a sell rating and three have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $20.25.
Summit Therapeutics (NASDAQ:SMMT) opened at $11.20 on Thursday. Summit Therapeutics has a 1 year low of $8.00 and a 1 year high of $16.86. The company has a market capitalization of $155.38 and a price-to-earnings ratio of -25.45.
Several large investors have recently added to or reduced their stakes in SMMT. Susquehanna International Group LLP bought a new stake in shares of Summit Therapeutics during the 3rd quarter valued at $1,828,000. Granite Point Capital Management L.P. increased its stake in Summit Therapeutics by 106.7% in the 3rd quarter. Granite Point Capital Management L.P. now owns 242,113 shares of the company’s stock worth $3,031,000 after acquiring an additional 125,000 shares during the last quarter. Highbridge Capital Management LLC bought a new position in Summit Therapeutics in the 3rd quarter worth about $1,004,000. Sphera Funds Management LTD. increased its stake in Summit Therapeutics by 49.3% in the 3rd quarter. Sphera Funds Management LTD. now owns 212,018 shares of the company’s stock worth $2,654,000 after acquiring an additional 70,000 shares during the last quarter. Finally, Alyeska Investment Group L.P. bought a new position in Summit Therapeutics in the 3rd quarter worth about $628,000. Institutional investors own 29.30% of the company’s stock.
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Summit Therapeutics 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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