Summit Therapeutics Inc. (NASDAQ:SMMT - Get Free Report) reached a new 52-week high on Monday after HC Wainwright raised their price target on the stock from $30.00 to $45.00. HC Wainwright currently has a buy rating on the stock. Summit Therapeutics traded as high as $33.74 and last traded at $31.67, with a volume of 2727208 shares trading hands. The stock had previously closed at $31.93.
A number of other equities analysts have also weighed in on SMMT. Stifel Nicolaus lifted their price objective on Summit Therapeutics from $14.00 to $25.00 and gave the company a "buy" rating in a research note on Monday, September 9th. Citigroup raised their target price on Summit Therapeutics from $13.00 to $19.00 and gave the company a "buy" rating in a research report on Monday, September 9th.
View Our Latest Stock Report on SMMT
Institutional Investors Weigh In On Summit Therapeutics
A number of institutional investors have recently modified their holdings of SMMT. Millennium Management LLC acquired a new stake in shares of Summit Therapeutics during the 2nd quarter valued at about $15,154,000. TD Asset Management Inc acquired a new stake in Summit Therapeutics in the 2nd quarter worth about $2,081,000. Vanguard Group Inc. boosted 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 worth $30,095,000 after buying an additional 254,261 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in 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 buying an additional 128,934 shares during the last quarter. Finally, Aristides Capital LLC acquired a new stake in Summit Therapeutics in the 4th quarter worth about $210,000. 4.61% of the stock is currently owned by institutional investors and hedge funds.
Summit Therapeutics Trading Down 9.1 %
The company has a market capitalization of $20.36 billion, a price-to-earnings ratio of -183.56 and a beta of -0.99. The company has a fifty day moving average of $12.32 and a 200-day moving average of $7.73.
Summit Therapeutics (NASDAQ:SMMT - Get Free Report) last posted its quarterly earnings data on Tuesday, August 6th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.01. As a group, equities research analysts expect that Summit Therapeutics Inc. will post -0.27 EPS for the current 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.
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