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

SUMMIT THERAPEU/S (NASDAQ:SMMT) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Wednesday, Zacks.com reports. The firm presently has a $1.50 target price on the stock. Zacks Investment Research‘s price objective suggests a potential upside of 16.28% from the stock’s current price.

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. “

Several other analysts also recently issued reports on SMMT. ValuEngine raised shares of SUMMIT THERAPEU/S from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. TheStreet raised shares of SUMMIT THERAPEU/S from a “d” rating to a “c-” rating in a report on Thursday, June 13th. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $2.17.

SMMT stock opened at $1.29 on Wednesday. The company has a quick ratio of 3.93, a current ratio of 3.93 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $17.86 million, a price-to-earnings ratio of 1.54 and a beta of 1.22. SUMMIT THERAPEU/S has a 12 month low of $1.10 and a 12 month high of $2.59. The firm has a 50 day moving average of $1.33 and a two-hundred day moving average of $1.61.

SUMMIT THERAPEU/S (NASDAQ:SMMT) last posted its earnings results on Wednesday, June 12th. The company reported ($0.20) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.31) by $0.11. The company had revenue of $0.32 million during the quarter, compared to the consensus estimate of $4.34 million. SUMMIT THERAPEU/S had a net margin of 24.32% and a return on equity of 26.31%. On average, research analysts expect that SUMMIT THERAPEU/S will post -1.08 EPS for the current fiscal year.

A hedge fund recently raised its stake in SUMMIT THERAPEU/S stock. Bank of New York Mellon Corp boosted its stake in shares of SUMMIT THERAPEU/S (NASDAQ:SMMT) by 120.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 216,897 shares of the company’s stock after purchasing an additional 118,501 shares during the quarter. Bank of New York Mellon Corp owned 1.57% of SUMMIT THERAPEU/S worth $274,000 at the end of the most recent quarter. Institutional investors and hedge funds own 18.59% of the company’s stock.

About SUMMIT THERAPEU/S

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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