Summit Therapeutics (NASDAQ:SMMT) Rating Reiterated by HC Wainwright

HC Wainwright restated their buy rating on shares of Summit Therapeutics (NASDAQ:SMMT) in a report published on Thursday, December 7th. HC Wainwright currently has a $16.00 price objective on the stock.

A number of other analysts also recently issued reports on SMMT. Zacks Investment Research downgraded shares of Summit Therapeutics from a strong-buy rating to a hold rating in a report on Wednesday, September 6th. Oppenheimer restated a buy rating and set a $24.00 price target on shares of Summit Therapeutics in a report on Monday, September 11th. Canaccord Genuity restated a buy rating and set a $28.00 price target on shares of Summit Therapeutics in a report on Monday, September 11th. Finally, ValuEngine downgraded shares of Summit Therapeutics from a hold rating to a sell rating in a report on Thursday, October 5th. Two investment analysts have rated the stock with a sell rating and three have given a buy rating to the stock. Summit Therapeutics has a consensus rating of Hold and a consensus target price of $20.25.

Shares of Summit Therapeutics (NASDAQ:SMMT) traded up $0.12 during midday trading on Thursday, hitting $11.20. 25,124 shares of the stock were exchanged, compared to its average volume of 24,400. The firm has a market cap of $156.51 and a P/E ratio of -25.45. Summit Therapeutics has a fifty-two week low of $8.24 and a fifty-two week high of $16.86.

A number of institutional investors have recently bought and sold shares of SMMT. Renaissance Technologies LLC acquired a new stake in Summit Therapeutics in the 1st quarter valued at approximately $267,000. Sphera Funds Management LTD. grew its stake in shares of Summit Therapeutics by 49.3% in the third 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 in the last quarter. Granite Point Capital Management L.P. grew its stake in shares of Summit Therapeutics by 106.7% in the third 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 in the last quarter. Alyeska Investment Group L.P. acquired a new position in shares of Summit Therapeutics in the third quarter worth $628,000. Finally, Highbridge Capital Management LLC acquired a new position in shares of Summit Therapeutics in the third quarter worth $1,004,000. Hedge funds and other 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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