Summit Therapeutics (NASDAQ:SMMT) Now Covered by Analysts at The Goldman Sachs Group

The Goldman Sachs Group assumed coverage on shares of Summit Therapeutics (NASDAQ:SMMT) in a research report released on Friday morning, MarketBeat Ratings reports. The firm issued a buy rating and a $42.00 target price on the stock.

A number of other equities research analysts also recently weighed in on SMMT. HC Wainwright reaffirmed a “buy” rating and issued a $44.00 target price on shares of Summit Therapeutics in a report on Tuesday. Wells Fargo & Company assumed coverage on Summit Therapeutics in a report on Wednesday, December 11th. They issued an “overweight” rating and a $30.00 target price on the stock. Jefferies Financial Group assumed coverage on Summit Therapeutics in a report on Friday, December 6th. They issued a “buy” rating and a $31.00 target price on the stock. JMP Securities initiated coverage on Summit Therapeutics in a report on Monday, November 4th. They issued a “market outperform” rating and a $32.00 target price on the stock. Finally, Truist Financial initiated coverage on Summit Therapeutics in a report on Wednesday, January 8th. They set a “buy” rating and a $35.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Summit Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $34.63.

Summit Therapeutics Price Performance

Summit Therapeutics stock opened at $20.69 on Friday. The stock’s fifty day moving average price is $19.99 and its two-hundred day moving average price is $19.25. Summit Therapeutics has a one year low of $2.10 and a one year high of $33.89. The firm has a market cap of $15.26 billion, a PE ratio of -73.89 and a beta of -0.88.

Summit Therapeutics (NASDAQ:SMMT) last issued its earnings results on Monday, February 24th. The company reported ($0.08) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.08). The business had revenue of $0.20 million during the quarter. Sell-side analysts expect that Summit Therapeutics will post -0.3 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Darwin Wealth Management LLC bought a new position in Summit Therapeutics during the 3rd quarter worth $25,000. Covestor Ltd raised its position in Summit Therapeutics by 2,767.4% during the 3rd quarter. Covestor Ltd now owns 1,233 shares of the company’s stock worth $27,000 after purchasing an additional 1,190 shares during the last quarter. Brooklyn Investment Group bought a new position in Summit Therapeutics during the 4th quarter worth $29,000. National Bank of Canada FI bought a new position in Summit Therapeutics during the 4th quarter worth $30,000. Finally, Steward Partners Investment Advisory LLC raised its position in Summit Therapeutics by 56.1% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,503 shares of the company’s stock worth $45,000 after purchasing an additional 900 shares during the last quarter. 4.61% of the stock is owned by institutional investors.

About Summit Therapeutics

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.