SUMMIT THERAPEU/S (NASDAQ:SMMT) Stock Price Up 6.2%

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Shares of SUMMIT THERAPEU/S (NASDAQ:SMMT) rose 6.2% on Friday . The stock traded as high as $1.55 and last traded at $1.54, approximately 148,055 shares changed hands during trading. An increase of 240% from the average daily volume of 43,571 shares. The stock had previously closed at $1.45.

A number of research analysts have issued reports on the company. ValuEngine raised SUMMIT THERAPEU/S from a “strong sell” rating to a “sell” rating in a report on Tuesday, December 3rd. Zacks Investment Research cut shares of SUMMIT THERAPEU/S from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. HC Wainwright set a $2.00 price objective on shares of SUMMIT THERAPEU/S and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Finally, TheStreet lowered shares of SUMMIT THERAPEU/S from a “c-” rating to a “d-” rating in a report on Friday, October 11th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $1.88.

The company has a debt-to-equity ratio of 0.01, a current ratio of 3.47 and a quick ratio of 3.47. The business’s fifty day simple moving average is $1.61 and its two-hundred day simple moving average is $1.47.

SUMMIT THERAPEU/S (NASDAQ:SMMT) last issued its quarterly earnings data on Friday, October 11th. The company reported ($0.20) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.08. SUMMIT THERAPEU/S had a negative net margin of 1,432.73% and a negative return on equity of 61.73%. The business had revenue of $0.15 million during the quarter, compared to the consensus estimate of $0.43 million. As a group, equities research analysts expect that SUMMIT THERAPEU/S will post -0.83 EPS for the current fiscal year.

A hedge fund recently raised its stake in SUMMIT THERAPEU/S stock. Bank of New York Mellon Corp increased its holdings in SUMMIT THERAPEU/S (NASDAQ:SMMT) by 120.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm 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 reporting period. Institutional investors own 8.28% of the company’s stock.

SUMMIT THERAPEU/S Company Profile (NASDAQ:SMMT)

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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