Summit Therapeutics Inc. (NASDAQ:SMMT – Get Free Report) shares hit a new 52-week high during mid-day trading on Monday after Citigroup raised their price target on the stock from $13.00 to $19.00. Citigroup currently has a buy rating on the stock. Summit Therapeutics traded as high as $15.85 and last traded at $15.85, with a volume of 3520758 shares trading hands. The stock had previously closed at $12.27.
A number of other equities research analysts have also recently commented on SMMT. Stifel Nicolaus lifted their price objective on Summit Therapeutics from $14.00 to $25.00 and gave the stock a “buy” rating in a research note on Monday. HC Wainwright boosted their price target on Summit Therapeutics from $16.00 to $30.00 and gave the company a “buy” rating in a report on Monday.
View Our Latest Analysis on Summit Therapeutics
Institutional Investors Weigh In On Summit Therapeutics
Summit Therapeutics Trading Up 20.0 %
The firm has a market cap of $16.64 billion, a P/E ratio of -143.56 and a beta of -0.99. The company’s 50-day moving average is $11.10 and its two-hundred day moving average is $7.24.
Summit Therapeutics (NASDAQ:SMMT – Get Free Report) last posted its earnings results on Tuesday, August 6th. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.06) by $0.01. Research analysts anticipate that Summit Therapeutics Inc. will post -0.27 EPS for the current fiscal year.
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.
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