Summit Therapeutics Inc. (NASDAQ:SMMT - Get Free Report)'s stock price 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.
Several other equities research analysts have also commented on SMMT. HC Wainwright boosted their price objective on Summit Therapeutics from $16.00 to $30.00 and gave the stock a "buy" rating in a research note on Monday. Stifel Nicolaus boosted their price target on Summit Therapeutics from $14.00 to $25.00 and gave the stock a "buy" rating in a research report on Monday.
Read Our Latest Analysis on Summit Therapeutics
Institutional Trading of Summit Therapeutics
Hedge funds have recently bought and sold shares of the business. Millennium Management LLC acquired a new position in shares of Summit Therapeutics during the 2nd quarter worth approximately $15,154,000. TD Asset Management Inc acquired a new position in Summit Therapeutics during the second quarter worth $2,081,000. Vanguard Group Inc. grew its holdings in Summit Therapeutics by 3.6% in the 1st quarter. Vanguard Group Inc. now owns 7,269,243 shares of the company's stock valued at $30,095,000 after buying an additional 254,261 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Summit Therapeutics by 167.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 206,057 shares of the company's stock worth $1,607,000 after acquiring an additional 128,934 shares during the last quarter. Finally, Aristides Capital LLC purchased a new position in shares of Summit Therapeutics during the 4th quarter worth $210,000. Institutional investors and hedge funds own 4.61% of the company's stock.
Summit Therapeutics Stock Performance
The firm's 50-day moving average price is $10.58 and its two-hundred day moving average price is $7.01. The stock has a market cap of $13.87 billion, a price-to-earnings ratio of -119.63 and a beta of -0.99.
Summit Therapeutics (NASDAQ:SMMT - Get Free Report) last posted its earnings results on Tuesday, August 6th. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.01. As a group, sell-side analysts expect that Summit Therapeutics Inc. will post -0.27 earnings per share for the current fiscal year.
Summit Therapeutics Company Profile
(
Get Free Report)
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.
Read More
Before you consider Summit Therapeutics, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Summit Therapeutics wasn't on the list.
While Summit Therapeutics currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Click the link below and we'll send you MarketBeat's list of seven stocks and why their long-term outlooks are very promising.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
