Summit Therapeutics PLC (SMMT) Upgraded by Zacks Investment Research to Hold

Zacks Investment Research upgraded shares of Summit Therapeutics PLC (NASDAQ:SMMT) from a sell rating to a hold rating in a report released on Tuesday.

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. “

Other analysts have also issued reports about the company. Canaccord Genuity reaffirmed a buy rating and issued a $28.00 price target on shares of Summit Therapeutics PLC in a research note on Monday, September 11th. Oppenheimer Holdings, Inc. reaffirmed a buy rating and issued a $24.00 price target on shares of Summit Therapeutics PLC in a research note on Monday, September 11th. Finally, ValuEngine lowered Summit Therapeutics PLC from a hold rating to a sell rating in a research note on Thursday, October 5th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. Summit Therapeutics PLC presently has a consensus rating of Hold and an average price target of $23.50.

Shares of Summit Therapeutics PLC (SMMT) traded down $0.67 on Tuesday, reaching $10.57. The company’s stock had a trading volume of 79,000 shares, compared to its average volume of 21,788. Summit Therapeutics PLC has a one year low of $7.95 and a one year high of $16.86.

Summit Therapeutics PLC (NASDAQ:SMMT) last issued its quarterly earnings data on Thursday, August 31st. The company reported $1.10 EPS for the quarter, missing the consensus estimate of $1.38 by ($0.28). The business had revenue of $25.01 million during the quarter, compared to analyst estimates 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 anticipate that Summit Therapeutics PLC will post -1.19 EPS for the current year.

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Several large investors have recently modified their holdings of SMMT. Renaissance Technologies LLC purchased a new position in Summit Therapeutics PLC during the first quarter worth approximately $267,000. Alyeska Investment Group L.P. purchased a new position in Summit Therapeutics PLC during the third quarter worth approximately $628,000. Highbridge Capital Management LLC purchased a new position in Summit Therapeutics PLC during the third quarter worth approximately $1,004,000. Sphera Funds Management LTD. lifted its position in Summit Therapeutics PLC by 49.3% during the third quarter. Sphera Funds Management LTD. now owns 212,018 shares of the company’s stock worth $2,654,000 after buying an additional 70,000 shares in the last quarter. Finally, Granite Point Capital Management L.P. lifted its position in Summit Therapeutics PLC by 106.7% during the third quarter. Granite Point Capital Management L.P. now owns 242,113 shares of the company’s stock worth $3,031,000 after buying an additional 125,000 shares in the last quarter. 19.71% of the stock is currently owned by hedge funds and other institutional investors.

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).

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