SUMMIT THERAPEU/S (NASDAQ:SMMT) Lifted to Strong-Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of SUMMIT THERAPEU/S (NASDAQ:SMMT) from a hold rating to a strong-buy rating in a research report sent to investors on Wednesday, Zacks.com reports. They currently have $1.50 price target on the stock.

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 equities research analysts also recently commented on SMMT. TheStreet upgraded shares of SUMMIT THERAPEU/S from a d rating to a c- rating in a report on Thursday, June 13th. ValuEngine upgraded shares of SUMMIT THERAPEU/S from a sell rating to a hold rating in a report on Thursday, August 1st. Two research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. The company has an average rating of Buy and an average price target of $1.75.

Shares of SMMT opened at $1.27 on Wednesday. The company has a current ratio of 3.93, a quick ratio of 3.93 and a debt-to-equity ratio of 0.01. The stock has a market cap of $17.86 million, a P/E ratio of 1.43 and a beta of 1.22. The company has a 50-day moving average of $1.33 and a two-hundred day moving average of $1.60. SUMMIT THERAPEU/S has a 12-month low of $1.10 and a 12-month high of $2.59.

SUMMIT THERAPEU/S (NASDAQ:SMMT) last announced its earnings results on Wednesday, June 12th. The company reported ($0.20) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.11. The company had revenue of $0.32 million during the quarter, compared to analysts’ expectations of $4.34 million. SUMMIT THERAPEU/S had a net margin of 24.32% and a return on equity of 26.31%. As a group, analysts forecast that SUMMIT THERAPEU/S will post -1.08 EPS for the current fiscal year.

An institutional investor recently raised its position in SUMMIT THERAPEU/S stock. Bank of New York Mellon Corp lifted its position in shares of SUMMIT THERAPEU/S (NASDAQ:SMMT) by 120.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 216,897 shares of the company’s stock after buying an additional 118,501 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.57% of SUMMIT THERAPEU/S worth $274,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 18.59% of the company’s stock.

SUMMIT THERAPEU/S Company Profile

Summit Therapeutics plc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of novel medicines to treat rare and infectious diseases in the United Kingdom and North America. It is conducting clinical programmes focused on the genetic disease Duchenne muscular dystrophy (DMD) and the infectious disease Clostridium difficile infection (CDI).

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