Summit Therapeutics (NASDAQ:SMMT) Research Coverage Started at Wells Fargo & Company

Wells Fargo & Company began coverage on shares of Summit Therapeutics (NASDAQ:SMMT) in a report released on Wednesday, MarketBeat.com reports. The brokerage issued an overweight rating and a $30.00 price objective on the stock.

Several other research analysts have also weighed in on the stock. Jefferies Financial Group assumed coverage on shares of Summit Therapeutics in a research note on Friday, December 6th. They set a “buy” rating and a $31.00 price objective on the stock. Citigroup cut shares of Summit Therapeutics from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $19.00 to $23.00 in a research report on Friday, September 27th. JMP Securities began coverage on shares of Summit Therapeutics in a research report on Monday, November 4th. They issued a “market outperform” rating and a $32.00 price objective for the company. Stifel Nicolaus lifted their target price on Summit Therapeutics from $25.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. Finally, HC Wainwright restated a “buy” rating and issued a $44.00 price target on shares of Summit Therapeutics in a report on Monday, November 18th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $33.33.

Summit Therapeutics Trading Down 0.2 %

Shares of SMMT opened at $17.83 on Wednesday. The stock has a market cap of $13.15 billion, a P/E ratio of -65.35 and a beta of -0.92. Summit Therapeutics has a 1 year low of $2.10 and a 1 year high of $33.89. The stock’s 50-day moving average price is $19.64 and its two-hundred day moving average price is $14.88.

Institutional Trading of Summit Therapeutics

A number of institutional investors have recently modified their holdings of SMMT. Price T Rowe Associates Inc. MD raised its holdings in shares of Summit Therapeutics by 18.3% in the first 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 during the last quarter. Hoylecohen LLC increased its position in shares of Summit Therapeutics by 2.4% in the second quarter. Hoylecohen LLC now owns 86,408 shares of the company’s stock valued at $674,000 after acquiring an additional 2,000 shares during the last quarter. Fullcircle Wealth LLC bought a new stake in Summit Therapeutics during the second quarter worth about $95,000. Principal Financial Group Inc. boosted its position in Summit Therapeutics by 131.9% during the second quarter. Principal Financial Group Inc. now owns 36,133 shares of the company’s stock valued at $282,000 after purchasing an additional 20,553 shares during the last quarter. Finally, CIBC Asset Management Inc bought a new position in Summit Therapeutics in the second quarter valued at approximately $154,000. 4.61% of the stock is currently owned by institutional investors.

Summit Therapeutics Company Profile

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.