SUMMIT THERAPEU/S (NASDAQ:SMMT) Rating Increased to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of SUMMIT THERAPEU/S (NASDAQ:SMMT) from a hold rating to a buy rating in a research note issued to investors on Wednesday, August 29th. The brokerage currently has $2.25 target price on the stock.
According to Zacks, “Summit Therapeutics PLC is engaged in the discovery and development of drug to treat the fatal muscle wasting disease Duchenne Muscular Dystrophy and infections caused by the bacteria C. difficile. Summit Therapeutics PLC is headquartered in Abingdon, the United Kingdom. “
A number of other equities analysts also recently commented on SMMT. HC Wainwright set a $3.00 price objective on shares of SUMMIT THERAPEU/S and gave the stock a buy rating in a research note on Friday, August 24th. Canaccord Genuity set a $3.00 target price on shares of SUMMIT THERAPEU/S and gave the company a buy rating in a report on Thursday, August 16th. Janney Montgomery Scott cut shares of SUMMIT THERAPEU/S from a buy rating to a neutral rating and lowered their price target for the company from $27.00 to $3.00 in a report on Thursday, June 28th. JMP Securities cut shares of SUMMIT THERAPEU/S to a market perform rating in a report on Thursday, June 28th. Finally, ValuEngine cut shares of SUMMIT THERAPEU/S from a buy rating to a hold rating in a report on Wednesday, June 27th. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. SUMMIT THERAPEU/S currently has a consensus rating of Buy and a consensus target price of $13.16.
Large investors have recently modified their holdings of the company. Millennium Management LLC lifted its holdings in shares of SUMMIT THERAPEU/S by 29.5% during the fourth quarter. Millennium Management LLC now owns 99,873 shares of the company’s stock worth $1,107,000 after purchasing an additional 22,759 shares during the period. Acadian Asset Management LLC bought a new position in SUMMIT THERAPEU/S during the second quarter worth $261,000. Renaissance Technologies LLC raised its stake in SUMMIT THERAPEU/S by 15.4% during the fourth quarter. Renaissance Technologies LLC now owns 116,600 shares of the company’s stock worth $1,292,000 after buying an additional 15,600 shares during the last quarter. Finally, Royal Bank of Canada raised its stake in SUMMIT THERAPEU/S by 376.0% during the first quarter. Royal Bank of Canada now owns 11,900 shares of the company’s stock worth $154,000 after buying an additional 9,400 shares during the last quarter. Institutional investors own 24.93% of the company’s stock.
About SUMMIT THERAPEU/S
Summit Therapeutics plc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of novel medicines to treat rare and infectious diseases in the United Kingdom and North America. It is conducting clinical programmes focused on the genetic disease Duchenne muscular dystrophy (DMD) and the infectious disease Clostridium difficile infection (CDI).
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