Zacks Investment Research cut shares of Summit Therapeutics (NASDAQ:SMMT) from a buy rating to a hold rating in a research report sent to investors on Thursday 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. “
A number of other research firms have also weighed in on SMMT. Oppenheimer upped their target price on shares of Summit Therapeutics from $24.00 to $30.00 and gave the stock an outperform rating in a research note on Friday, January 26th. ValuEngine upgraded shares of Summit Therapeutics from a sell rating to a hold rating in a research note on Friday, February 2nd. HC Wainwright restated a buy rating and set a $16.00 target price on shares of Summit Therapeutics in a research note on Thursday, January 25th. SunTrust Banks began coverage on shares of Summit Therapeutics in a research note on Thursday, January 4th. They set a buy rating and a $24.00 target price on the stock. Finally, BTIG Research began coverage on shares of Summit Therapeutics in a research note on Tuesday, February 13th. They issued a buy rating and a $33.00 price target on the stock. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Summit Therapeutics currently has a consensus rating of Buy and a consensus target price of $24.17.
Institutional investors have recently made changes to their positions in the business. Acadian Asset Management LLC increased its stake in Summit Therapeutics by 192.8% in the fourth quarter. Acadian Asset Management LLC now owns 144,083 shares of the company’s stock valued at $1,595,000 after purchasing an additional 94,876 shares during the last quarter. Susquehanna International Group LLP purchased a new position in Summit Therapeutics in the third quarter valued at approximately $1,828,000. Granite Point Capital Management L.P. increased its stake in Summit Therapeutics by 106.7% in the third quarter. Granite Point Capital Management L.P. now owns 242,113 shares of the company’s stock valued at $3,031,000 after purchasing an additional 125,000 shares during the last quarter. Highbridge Capital Management LLC purchased a new position in Summit Therapeutics in the third quarter valued at approximately $1,004,000. Finally, Alyeska Investment Group L.P. purchased a new position in Summit Therapeutics in the third quarter valued at approximately $628,000. Institutional investors own 29.03% of the company’s stock.
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Summit Therapeutics Company Profile
Summit Therapeutics plc is a biopharmaceutical company, which is engaged in drug development. The Company is focused on the discovery, development and commercialization of medicines for indications for which there are no existing or only inadequate therapies. It is conducting clinical programs focused on the genetic disease Duchenne muscular dystrophy (DMD) and the infectious disease Clostridium difficile infection (CDI).
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