SUMMIT THERAPEU/S (SMMT) Downgraded to “Hold” at Zacks Investment Research

Zacks Investment Research downgraded shares of SUMMIT THERAPEU/S (NASDAQ:SMMT) from a buy rating to a hold rating in a research report report published on Saturday morning.

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. “

SMMT has been the topic of a number of other research reports. ValuEngine lowered SUMMIT THERAPEU/S from a sell rating to a strong sell rating in a report on Wednesday, January 2nd. HC Wainwright reissued a buy rating on shares of SUMMIT THERAPEU/S in a report on Tuesday, February 19th. Finally, Oppenheimer reissued a hold rating on shares of SUMMIT THERAPEU/S in a report on Thursday, February 14th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $6.92.

Shares of SMMT traded up $0.02 during midday trading on Friday, hitting $1.34. 39,879 shares of the stock were exchanged, compared to its average volume of 52,637. SUMMIT THERAPEU/S has a 52-week low of $1.10 and a 52-week high of $14.29. The firm has a market cap of $18.60 million, a P/E ratio of -1.79 and a beta of 1.19.

SUMMIT THERAPEU/S (NASDAQ:SMMT) last released its quarterly earnings results on Tuesday, December 11th. The company reported ($0.65) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.50). SUMMIT THERAPEU/S had a return on equity of 1.16% and a net margin of 0.37%. The firm had revenue of $0.86 million for the quarter, compared to analysts’ expectations of $4.19 million. Research analysts expect that SUMMIT THERAPEU/S will post 0.91 earnings per share for the current year.

An institutional investor recently raised its position in SUMMIT THERAPEU/S stock. Acadian Asset Management LLC lifted its holdings in SUMMIT THERAPEU/S (NASDAQ:SMMT) by 5.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 183,160 shares of the company’s stock after purchasing an additional 10,208 shares during the quarter. Acadian Asset Management LLC owned 1.32% of SUMMIT THERAPEU/S worth $210,000 as of its most recent SEC filing. 20.77% of the stock is currently owned by hedge funds and other institutional investors.

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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