Summit Therapeutics PLC (NASDAQ:SMMT)‘s stock had its “outperform” rating restated by analysts at Oppenheimer Holdings Inc. in a note issued to investors on Wednesday. They presently have a $28.00 price objective on the stock. Oppenheimer Holdings Inc.’s price target points to a potential upside of 109.42% from the stock’s previous close.
Other analysts have also issued reports about the stock. Needham & Company LLC increased their target price on shares of Summit Therapeutics PLC from $22.00 to $30.00 and gave the stock a “buy” rating in a report on Tuesday. HC Wainwright initiated coverage on shares of Summit Therapeutics PLC in a report on Friday, September 16th. They set a “buy” rating and a $26.00 target price for the company. Zacks Investment Research upgraded shares of Summit Therapeutics PLC from a “hold” rating to a “buy” rating and set a $7.00 target price for the company in a report on Wednesday, September 14th. Canaccord Genuity reiterated a “buy” rating and set a $14.00 target price on shares of Summit Therapeutics PLC in a report on Friday, September 9th. Finally, Janney Montgomery Scott started coverage on shares of Summit Therapeutics PLC in a research note on Tuesday, June 21st. They issued a “buy” rating for the company. Six investment analysts have rated the stock with a buy rating, The company currently has an average rating of “Buy” and an average target price of $23.80.
Summit Therapeutics PLC (NASDAQ:SMMT) opened at 13.37 on Wednesday. Summit Therapeutics PLC has a 52 week low of $4.26 and a 52 week high of $19.75. The stock has a 50 day moving average price of $7.88 and a 200-day moving average price of $7.77. The stock’s market cap is $164.37 million.
An institutional investor recently bought a new position in Summit Therapeutics PLC stock. Granite Point Capital Management L.P. bought a new position in shares of Summit Therapeutics PLC (NASDAQ:SMMT) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 112,676 shares of the company’s stock, valued at approximately $891,000. Granite Point Capital Management L.P. owned 0.92% of Summit Therapeutics PLC as of its most recent SEC filing. 23.43% of the stock is owned by hedge funds and other institutional investors.
Summit Therapeutics PLC Company Profile
Summit Therapeutics plc, formerly Summit Corporation plc, is a United Kingdom-based biopharmaceutical company. The Company is focused on the discovery, development and commercialization of medicines for indications for which there are no existing or only inadequate therapies. The Company is conducting clinical programs focused on the genetic disease Duchenne muscular dystrophy (DMD) and the infectious disease Clostridium difficile infection (CDI).
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