Summit Therapeutics (NASDAQ:SMMT) Research Coverage Started at Cantor Fitzgerald

Cantor Fitzgerald began coverage on shares of Summit Therapeutics (NASDAQ:SMMT) in a research report sent to investors on Friday, Marketbeat Ratings reports. The brokerage issued an overweight rating on the stock.

A number of other brokerages have also commented on SMMT. HC Wainwright reissued a “buy” rating and set a $44.00 price target on shares of Summit Therapeutics in a report on Tuesday, February 25th. The Goldman Sachs Group began coverage on Summit Therapeutics in a report on Friday, February 28th. They set a “buy” rating and a $42.00 price target on the stock. Wells Fargo & Company began coverage on Summit Therapeutics in a report on Wednesday, December 11th. They set an “overweight” rating and a $30.00 price target on the stock. StockNews.com raised Summit Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, March 5th. Finally, Truist Financial began coverage on Summit Therapeutics in a report on Wednesday, January 8th. They set a “buy” rating and a $35.00 price target on the stock. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $34.11.

Summit Therapeutics Price Performance

Shares of NASDAQ SMMT opened at $19.75 on Friday. Summit Therapeutics has a 1-year low of $2.10 and a 1-year high of $33.89. The business’s fifty day moving average price is $20.28 and its two-hundred day moving average price is $20.06. The firm has a market capitalization of $14.57 billion, a PE ratio of -70.53 and a beta of -1.04.

Summit Therapeutics (NASDAQ:SMMT) last issued its earnings results on Monday, February 24th. The company reported ($0.08) earnings per share for the quarter, hitting the consensus estimate of ($0.08). The company had revenue of $0.20 million during the quarter. Equities research analysts expect that Summit Therapeutics will post -0.3 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Darwin Wealth Management LLC bought a new position in Summit Therapeutics during the third quarter valued at about $25,000. Brooklyn Investment Group acquired a new position in shares of Summit Therapeutics in the 4th quarter valued at $29,000. National Bank of Canada FI acquired a new position in shares of Summit Therapeutics in the 4th quarter valued at $30,000. Steward Partners Investment Advisory LLC boosted its position in shares of Summit Therapeutics by 56.1% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,503 shares of the company’s stock valued at $45,000 after purchasing an additional 900 shares during the period. Finally, Rakuten Securities Inc. acquired a new position in shares of Summit Therapeutics in the 4th quarter valued at $71,000. Institutional investors own 4.61% of the company’s stock.

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.