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

Investment analysts at Cantor Fitzgerald started coverage on shares of Summit Therapeutics (NASDAQ:SMMT) in a report issued on Friday, Marketbeat Ratings reports. The firm set an “overweight” rating on the stock.

SMMT has been the subject of several other reports. Evercore ISI began coverage on shares of Summit Therapeutics in a research note on Wednesday, March 12th. They set an “outperform” rating and a $30.00 price objective for the company. The Goldman Sachs Group began coverage on shares of Summit Therapeutics in a research note on Friday, February 28th. They set a “buy” rating and a $42.00 price objective for the company. Jefferies Financial Group began coverage on shares of Summit Therapeutics in a research note on Friday, December 6th. They set a “buy” rating and a $31.00 price objective for the company. Wells Fargo & Company began coverage on shares of Summit Therapeutics in a research note on Wednesday, December 11th. They set an “overweight” rating and a $30.00 price objective for the company. Finally, HC Wainwright reiterated a “buy” rating and issued a $44.00 target price on shares of Summit Therapeutics in a research note on Tuesday, February 25th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, Summit Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $34.11.

Summit Therapeutics Trading Down 3.3 %

NASDAQ:SMMT opened at $19.44 on Friday. The company has a market cap of $14.34 billion, a PE ratio of -69.43 and a beta of -1.04. Summit Therapeutics has a twelve month low of $2.10 and a twelve month high of $33.89. The company’s 50 day moving average is $20.25 and its two-hundred day moving average is $19.91.

Summit Therapeutics (NASDAQ:SMMT) last released its earnings results on Monday, February 24th. The company reported ($0.08) earnings per share for the quarter, hitting the consensus estimate of ($0.08). The company had revenue of $0.20 million for the quarter. As a group, analysts expect that Summit Therapeutics will post -0.3 EPS for the current fiscal year.

Institutional Investors Weigh In On Summit Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Jefferies Financial Group Inc. purchased a new stake in Summit Therapeutics in the 4th quarter worth $803,000. GF Fund Management CO. LTD. purchased a new stake in Summit Therapeutics in the 4th quarter worth $302,000. Neo Ivy Capital Management purchased a new stake in Summit Therapeutics in the 4th quarter worth $3,739,000. Tema Etfs LLC purchased a new stake in Summit Therapeutics in the 4th quarter worth $475,000. Finally, Toronto Dominion Bank purchased a new stake in Summit Therapeutics in the 4th quarter worth $446,000. Hedge funds and other institutional investors own 4.61% of the company’s stock.

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.