Summit Therapeutics PLC (NASDAQ:SMMT) Receives Consensus Recommendation of “Moderate Buy” from Analysts

by · The Markets Daily

Summit Therapeutics PLC (NASDAQ:SMMT – Get Free Report) has been assigned an average recommendation of “Moderate Buy” from the eighteen research firms that are covering the stock, MarketBeat reports. Four analysts have rated the stock with a sell recommendation, two have issued a hold recommendation, eleven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $31.1429.

Several research analysts recently issued reports on SMMT shares. Guggenheim reissued a “buy” rating and set a $40.00 target price on shares of Summit Therapeutics in a report on Wednesday, October 22nd. Summit Redstone set a $13.00 target price on shares of Summit Therapeutics in a report on Tuesday, September 16th. Zacks Research raised shares of Summit Therapeutics from a “strong sell” rating to a “hold” rating in a report on Monday, October 13th. JMP Securities reissued a “market outperform” rating and set a $40.00 target price on shares of Summit Therapeutics in a report on Monday, October 20th. Finally, HC Wainwright decreased their price target on Summit Therapeutics from $50.00 to $40.00 and set a “buy” rating for the company in a report on Tuesday, October 21st.

Get Our Latest Analysis on Summit Therapeutics

Insider Buying and Selling at Summit Therapeutics

In related news, Director Yu Xia purchased 533,617 shares of the firm’s stock in a transaction on Tuesday, October 21st. The stock was bought at an average cost of $18.74 per share, with a total value of $9,999,982.58. Following the completion of the acquisition, the director owned 32,057,147 shares of the company’s stock, valued at $600,750,934.78. The trade was a 1.69% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Robert W. Duggan purchased 333,394 shares of the firm’s stock in a transaction on Wednesday, September 10th. The stock was bought at an average cost of $17.68 per share, with a total value of $5,894,405.92. Following the completion of the acquisition, the chief executive officer directly owned 556,088,090 shares of the company’s stock, valued at $9,831,637,431.20. This trade represents a 0.06% increase in their position. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders purchased 1,263,765 shares of company stock valued at $22,969,461. 84.90% of the stock is owned by company insiders.

Institutional Trading of Summit Therapeutics

Several institutional investors have recently modified their holdings of the stock. Cerity Partners LLC grew its position in shares of Summit Therapeutics by 0.4% in the first quarter. Cerity Partners LLC now owns 113,654 shares of the company’s stock valued at $2,192,000 after purchasing an additional 440 shares during the period. SBI Securities Co. Ltd. grew its position in shares of Summit Therapeutics by 34.1% in the second quarter. SBI Securities Co. Ltd. now owns 1,756 shares of the company’s stock valued at $37,000 after purchasing an additional 447 shares during the period. Crowley Wealth Management Inc. grew its position in shares of Summit Therapeutics by 66.7% in the third quarter. Crowley Wealth Management Inc. now owns 1,500 shares of the company’s stock valued at $31,000 after purchasing an additional 600 shares during the period. Amalgamated Bank grew its position in shares of Summit Therapeutics by 7.7% in the third quarter. Amalgamated Bank now owns 8,552 shares of the company’s stock valued at $177,000 after purchasing an additional 609 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Summit Therapeutics by 1.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 65,411 shares of the company’s stock valued at $1,273,000 after purchasing an additional 694 shares during the period. Institutional investors and hedge funds own 4.61% of the company’s stock.

Summit Therapeutics Stock Up 1.4%

Summit Therapeutics stock opened at $18.91 on Friday. Summit Therapeutics has a 52 week low of $15.55 and a 52 week high of $36.91. The company has a market capitalization of $14.08 billion, a price-to-earnings ratio of -15.25 and a beta of -1.13. The stock has a 50-day moving average price of $21.02 and a 200 day moving average price of $23.36.

Summit Therapeutics (NASDAQ:SMMT – Get Free Report) last released its earnings results on Monday, October 20th. The company reported ($0.31) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.17). Research analysts anticipate that Summit Therapeutics will post -0.3 EPS for the current fiscal year.

About Summit Therapeutics

(Get Free Report)

Summit Therapeutics Inc, a biopharmaceutical company, focuses on discovery, development, and commercialization of patient, physician, caregiver, and societal friendly medicinal therapies in the United States, and the United Kingdom. The company’s lead development candidate is Ivonescimab, a bispecific antibody for immunotherapy through blockade of PD-1 with the anti-angiogenesis; and anti-infectives portfolio includes SMT-738, a novel class of precision antibiotics for the treatment of multidrug resistant infections, which primarily includes carbapenem-resistant Enterobacteriaceae infections.

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