Analysts’ Weekly Ratings Updates for Summit Therapeutics (SMMT)

Summit Therapeutics (NASDAQ: SMMT) recently received a number of ratings updates from brokerages and research firms:

• 9/9/2024 – Summit Therapeutics had its price target raised by analysts at Citigroup Inc. from $13.00 to $19.00. They now have a “buy” rating on the stock.
• 9/9/2024 – Summit Therapeutics had its price target raised by analysts at Stifel Nicolaus from $14.00 to $25.00. They now have a “buy” rating on the stock.
• 9/9/2024 – Summit Therapeutics had its price target raised by analysts at HC Wainwright from $16.00 to $30.00. They now have a “buy” rating on the stock.
• 9/3/2024 – Summit Therapeutics had its “buy” rating reaffirmed by analysts at HC Wainwright. They now have a $16.00 price target on the stock.
• 8/21/2024 – Summit Therapeutics had its “buy” rating reaffirmed by analysts at HC Wainwright. They now have a $16.00 price target on the stock.
• 8/12/2024 – Summit Therapeutics is now covered by analysts at HC Wainwright. They set a “buy” rating and a $16.00 price target on the stock.

Summit Therapeutics Price Performance

NASDAQ SMMT opened at $22.70 on Thursday. The company has a fifty day moving average of $11.42 and a 200 day moving average of $7.35. The company has a market capitalization of $15.93 billion, a PE ratio of -141.88 and a beta of -0.99. Summit Therapeutics Inc. has a 1 year low of $1.61 and a 1 year high of $24.07.

Summit Therapeutics (NASDAQ:SMMT) last announced its quarterly earnings results on Tuesday, August 6th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.01. Research analysts expect that Summit Therapeutics Inc. will post -0.27 earnings per share for the current year.

Institutional Trading of Summit Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in SMMT. Aristides Capital LLC purchased a new stake in shares of Summit Therapeutics during the fourth quarter worth about $210,000. Sectoral Asset Management Inc. increased its stake in Summit Therapeutics by 50.0% during the 4th quarter. Sectoral Asset Management Inc. now owns 30,000 shares of the company’s stock worth $78,000 after buying an additional 10,000 shares in the last quarter. Wealth Management Partners LLC raised its holdings in shares of Summit Therapeutics by 193.3% during the first quarter. Wealth Management Partners LLC now owns 44,000 shares of the company’s stock valued at $182,000 after acquiring an additional 29,000 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its position in shares of Summit Therapeutics by 66.3% in the first quarter. China Universal Asset Management Co. Ltd. now owns 134,845 shares of the company’s stock valued at $558,000 after acquiring an additional 53,774 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Summit Therapeutics by 131.3% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 40,476 shares of the company’s stock worth $168,000 after acquiring an additional 22,977 shares during the last quarter. 4.61% of the stock is currently owned by hedge funds and other institutional investors.

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.