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

Investment analysts at Cantor Fitzgerald initiated coverage on shares of Summit Therapeutics (NASDAQ:SMMT - Get Free Report) in a report released on Friday, MarketBeat reports. The firm set an "overweight" rating on the stock.

Other analysts also recently issued research reports about the stock. Evercore ISI started coverage on shares of Summit Therapeutics in a research report on Wednesday, March 12th. They set an "outperform" rating and a $30.00 price objective for the company. StockNews.com raised shares of Summit Therapeutics from a "sell" rating to a "hold" rating in a research note on Wednesday, March 5th. Wells Fargo & Company started coverage on shares of Summit Therapeutics in a research report on Wednesday, December 11th. They set an "overweight" rating and a $30.00 price objective on the stock. HC Wainwright restated a "buy" rating and issued a $44.00 target price on shares of Summit Therapeutics in a research note on Tuesday, February 25th. Finally, Truist Financial assumed coverage on Summit Therapeutics in a research note on Wednesday, January 8th. They set a "buy" rating and a $35.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $34.11.

Remove Ads

Summit Therapeutics Stock Down 2.2 %

SMMT traded down $0.45 during trading on Friday, reaching $20.24. 1,717,447 shares of the stock traded hands, compared to its average volume of 3,415,032. The stock's 50-day moving average is $20.41 and its 200 day moving average is $20.18. Summit Therapeutics has a 12 month low of $2.10 and a 12 month high of $33.89. The stock has a market capitalization of $14.93 billion, a PE ratio of -72.28 and a beta of -1.04.

Summit Therapeutics (NASDAQ:SMMT - Get Free Report) last announced its earnings results on Monday, February 24th. The company reported ($0.08) EPS for the quarter, meeting the consensus estimate of ($0.08). The business had revenue of $0.20 million for the quarter. As a group, equities research analysts anticipate that Summit Therapeutics will post -0.3 EPS for the current year.

Institutional Trading of Summit Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the stock. Darwin Wealth Management LLC bought a new stake in Summit Therapeutics during the third quarter worth $25,000. Brooklyn Investment Group purchased a new position in Summit Therapeutics during the 4th quarter worth $29,000. National Bank of Canada FI bought a new stake in shares of Summit Therapeutics in the 4th quarter worth $30,000. Steward Partners Investment Advisory LLC raised its holdings in shares of Summit Therapeutics by 56.1% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,503 shares of the company's stock valued at $45,000 after purchasing an additional 900 shares during the last quarter. Finally, Rakuten Securities Inc. bought a new position in shares of Summit Therapeutics during the fourth quarter valued at about $71,000. 4.61% of the stock is owned by hedge funds and other institutional investors.

Summit Therapeutics Company Profile

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.