SUMMIT THERAPEU/S (NASDAQ:SMMT) Lifted to Strong-Buy at Zacks Investment Research
SUMMIT THERAPEU/S (NASDAQ:SMMT) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Wednesday, Zacks.com reports. The firm currently has a $1.50 price objective on the stock. Zacks Investment Research‘s price target points to a potential upside of 16.28% from the stock’s current price.
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 equities analysts have also weighed in on the stock. ValuEngine raised shares of SUMMIT THERAPEU/S from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. TheStreet raised shares of SUMMIT THERAPEU/S from a “d” rating to a “c-” rating in a research report on Thursday, June 13th. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. SUMMIT THERAPEU/S has a consensus rating of “Buy” and an average price target of $2.17.
SUMMIT THERAPEU/S (NASDAQ:SMMT) last issued its quarterly earnings data on Wednesday, June 12th. The company reported ($0.20) earnings per share for the quarter, beating the consensus estimate of ($0.31) by $0.11. The firm had revenue of $0.32 million for the quarter, compared to analyst estimates of $4.34 million. SUMMIT THERAPEU/S had a net margin of 24.32% and a return on equity of 26.31%. On average, equities analysts predict that SUMMIT THERAPEU/S will post -1.08 earnings per share for the current year.
An institutional investor recently raised its position in SUMMIT THERAPEU/S stock. Bank of New York Mellon Corp grew its position in SUMMIT THERAPEU/S (NASDAQ:SMMT) by 120.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 216,897 shares of the company’s stock after purchasing an additional 118,501 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.57% of SUMMIT THERAPEU/S worth $274,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 18.59% of the company’s stock.
SUMMIT THERAPEU/S Company Profile
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).
Featured Article: Cryptocurrencies
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for SUMMIT THERAPEU/S Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SUMMIT THERAPEU/S and related companies with MarketBeat.com's FREE daily email newsletter.