Summit Therapeutics (NASDAQ:SMMT) Now Covered by Analysts at Cantor Fitzgerald

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

SMMT has been the topic of a number of other research reports. Evercore ISI began coverage on Summit Therapeutics in a report on Wednesday, March 12th. They issued an “outperform” rating and a $30.00 target price on the stock. StockNews.com raised Summit Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, March 5th. Jefferies Financial Group began coverage on Summit Therapeutics in a report on Friday, December 6th. They issued a “buy” rating and a $31.00 target price on the stock. Truist Financial began coverage on Summit Therapeutics in a report on Wednesday, January 8th. They issued a “buy” rating and a $35.00 target price on the stock. Finally, HC Wainwright reissued a “buy” rating and issued a $44.00 target price on shares of Summit Therapeutics in a report on Tuesday, February 25th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.11.

Summit Therapeutics Stock Up 1.6 %

SMMT opened at $19.75 on Friday. The firm has a market cap of $14.57 billion, a price-to-earnings ratio of -70.53 and a beta of -1.04. Summit Therapeutics has a 52 week low of $2.10 and a 52 week high of $33.89. The business’s 50 day moving average is $20.28 and its two-hundred day moving average is $19.96.

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

Institutional Trading of Summit Therapeutics

A number of institutional investors have recently modified their holdings of the business. Baker BROS. Advisors LP boosted its stake in shares of Summit Therapeutics by 5.2% in the third quarter. Baker BROS. Advisors LP now owns 24,424,865 shares of the company’s stock valued at $534,905,000 after buying an additional 1,202,643 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Summit Therapeutics by 6.6% in the fourth quarter. Vanguard Group Inc. now owns 11,670,576 shares of the company’s stock valued at $208,261,000 after buying an additional 724,040 shares in the last quarter. FMR LLC boosted its stake in shares of Summit Therapeutics by 9.8% in the third quarter. FMR LLC now owns 8,303,119 shares of the company’s stock valued at $181,838,000 after buying an additional 737,692 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in Summit Therapeutics by 20.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,557,927 shares of the company’s stock worth $116,995,000 after purchasing an additional 1,118,270 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in Summit Therapeutics by 3.3% during the fourth quarter. Geode Capital Management LLC now owns 3,200,847 shares of the company’s stock worth $57,133,000 after purchasing an additional 101,039 shares in the last quarter. 4.61% of the stock is currently owned by hedge funds and other institutional investors.

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.