Summit Therapeutics (NASDAQ:SMMT) PT Raised to $25.00 at Stifel Nicolaus

Summit Therapeutics (NASDAQ:SMMT) had its price target hoisted by research analysts at Stifel Nicolaus from $14.00 to $25.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Stifel Nicolaus’ target price would indicate a potential upside of 8.84% from the stock’s current price.

A number of other research analysts also recently weighed in on the company. HC Wainwright increased their price target on Summit Therapeutics from $16.00 to $30.00 and gave the company a “buy” rating in a research note on Monday. Citigroup increased their target price on Summit Therapeutics from $7.00 to $13.00 and gave the company a “buy” rating in a research note on Friday, May 31st.

Summit Therapeutics Trading Up 20.0 %

Shares of NASDAQ:SMMT opened at $22.97 on Monday. Summit Therapeutics has a 1-year low of $1.56 and a 1-year high of $23.10. The stock has a market capitalization of $16.64 billion, a P/E ratio of -143.56 and a beta of -0.99. The business has a 50-day moving average price of $11.10 and a two-hundred day moving average price of $7.24.

Summit Therapeutics (NASDAQ:SMMT) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.01. As a group, equities analysts predict that Summit Therapeutics will post -0.27 EPS for the current year.

Hedge Funds Weigh In On Summit Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Hoylecohen LLC raised its stake in Summit Therapeutics by 2.4% during the 2nd quarter. Hoylecohen LLC now owns 86,408 shares of the company’s stock worth $674,000 after buying an additional 2,000 shares during the period. Russell Investments Group Ltd. increased its holdings in shares of Summit Therapeutics by 142.2% in the first quarter. Russell Investments Group Ltd. now owns 6,096 shares of the company’s stock worth $25,000 after acquiring an additional 3,579 shares in the last quarter. Virtu Financial LLC raised its position in shares of Summit Therapeutics by 23.3% during the first quarter. Virtu Financial LLC now owns 20,372 shares of the company’s stock worth $84,000 after purchasing an additional 3,846 shares during the period. Alpine Global Management LLC raised its position in shares of Summit Therapeutics by 16.7% during the first quarter. Alpine Global Management LLC now owns 35,000 shares of the company’s stock worth $145,000 after purchasing an additional 5,000 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Summit Therapeutics by 18.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 33,145 shares of the company’s stock valued at $138,000 after purchasing an additional 5,139 shares in the last quarter. 4.61% of the stock is owned by institutional investors.

About Summit Therapeutics

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.