Zacks Investment Research lowered shares of SUMMIT THERAPEU/S (NASDAQ:SMMT) from a buy rating to a hold rating in a report issued on Tuesday morning.
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. “
SMMT has been the topic of several other research reports. ValuEngine lowered shares of SUMMIT THERAPEU/S from a sell rating to a strong sell rating in a research report on Thursday, September 27th. HC Wainwright set a $3.00 price target on shares of SUMMIT THERAPEU/S and gave the company a buy rating in a research report on Friday, August 24th. Finally, Canaccord Genuity set a $3.00 price target on shares of SUMMIT THERAPEU/S and gave the company a buy rating in a research report on Thursday, August 16th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the stock. The company currently has an average rating of Hold and an average target price of $13.09.
SUMMIT THERAPEU/S (NASDAQ:SMMT) last released its quarterly earnings results on Thursday, September 20th. The company reported $2.10 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.74) by $2.84. The firm had revenue of $49.82 million for the quarter. SUMMIT THERAPEU/S had a net margin of 13.38% and a return on equity of 58.72%. On average, sell-side analysts forecast that SUMMIT THERAPEU/S will post 0.96 EPS for the current fiscal year.
A hedge fund recently raised its stake in SUMMIT THERAPEU/S stock. Royal Bank of Canada raised its position in SUMMIT THERAPEU/S (NASDAQ:SMMT) by 376.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,900 shares of the company’s stock after purchasing an additional 9,400 shares during the quarter. Royal Bank of Canada owned 0.09% of SUMMIT THERAPEU/S worth $154,000 as of its most recent SEC filing. 25.05% of the stock is currently owned by institutional investors.
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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