Summit Therapeutics PLC (SMMT) Earns Buy Rating from Canaccord Genuity

Summit Therapeutics PLC (NASDAQ:SMMT)‘s stock had its “buy” rating reaffirmed by investment analysts at Canaccord Genuity in a research note issued on Monday. They presently have a $28.00 price objective on the stock. Canaccord Genuity’s target price suggests a potential upside of 75.00% from the company’s previous close.

A number of other analysts have also weighed in on SMMT. ValuEngine raised Summit Therapeutics PLC from a “sell” rating to a “hold” rating in a research note on Tuesday, June 6th. Oppenheimer Holdings, Inc. set a $24.00 price target on Summit Therapeutics PLC and gave the stock a “buy” rating in a research note on Thursday, June 22nd. Finally, Zacks Investment Research raised Summit Therapeutics PLC from a “hold” rating to a “buy” rating and set a $13.00 price target for the company in a research note on Tuesday, July 4th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $25.00.

Shares of Summit Therapeutics PLC (NASDAQ SMMT) traded down 1.69% on Monday, hitting $15.73. 11,702 shares of the stock were exchanged. Summit Therapeutics PLC has a 52-week low of $5.31 and a 52-week high of $19.75. The company has a 50 day moving average of $13.23 and a 200 day moving average of $12.09. The company’s market cap is $194.75 million.

Summit Therapeutics PLC (NASDAQ:SMMT) last released its quarterly earnings data on Thursday, August 31st. The company reported $1.10 earnings per share for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.28). The company had revenue of $25.01 million for the quarter, compared to analysts’ expectations of $31.37 million. Summit Therapeutics PLC had a negative net margin of 12.44% and a negative return on equity of 29,334.40%. Equities research analysts forecast that Summit Therapeutics PLC will post ($0.53) earnings per share for the current year.

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A hedge fund recently bought a new stake in Summit Therapeutics PLC stock. Renaissance Technologies LLC acquired a new stake in shares of Summit Therapeutics PLC (NASDAQ:SMMT) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 20,102 shares of the company’s stock, valued at approximately $267,000. Renaissance Technologies LLC owned 0.16% of Summit Therapeutics PLC at the end of the most recent quarter. 21.77% of the stock is currently owned by institutional investors and hedge funds.

About Summit Therapeutics PLC

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).

Analyst Recommendations for Summit Therapeutics PLC (NASDAQ:SMMT)

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