Summit Therapeutics PLC (NASDAQ:SMMT) Earns Buy Rating from Oppenheimer Holdings, Inc.

Summit Therapeutics PLC (NASDAQ:SMMT)‘s stock had its “buy” rating reaffirmed by investment analysts at Oppenheimer Holdings, Inc. in a report issued on Monday, September 11th. They currently have a $24.00 target price on the stock. Oppenheimer Holdings, Inc.’s price target suggests a potential upside of 89.13% from the company’s current price. Oppenheimer Holdings also issued estimates for Summit Therapeutics PLC’s Q3 2018 earnings at ($0.73) EPS, Q4 2018 earnings at ($0.86) EPS, FY2018 earnings at ($1.19) EPS, FY2019 earnings at ($3.37) EPS, FY2020 earnings at ($6.07) EPS and FY2021 earnings at ($1.06) EPS.

Several other research firms have also commented on SMMT. Zacks Investment Research upgraded shares of Summit Therapeutics PLC from a “hold” rating to a “buy” rating and set a $13.00 price target on the stock in a report on Tuesday, July 4th. Canaccord Genuity reiterated a “buy” rating and set a $28.00 price objective on shares of Summit Therapeutics PLC in a research note on Friday, June 16th. Finally, ValuEngine upgraded shares of Summit Therapeutics PLC from a “sell” rating to a “hold” rating in a research note on Tuesday, June 6th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $24.80.

Summit Therapeutics PLC (NASDAQ SMMT) opened at 12.63 on Monday. The company has a 50-day moving average of $13.70 and a 200 day moving average of $13.70. Summit Therapeutics PLC has a one year low of $6.90 and a one year high of $19.75. The company’s market cap is $156.42 million.

Summit Therapeutics PLC (NASDAQ:SMMT) last released its earnings results on Thursday, August 31st. The company reported $1.10 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.38 by ($0.28). Summit Therapeutics PLC had a negative return on equity of 29,334.40% and a negative net margin of 12.44%. The company had revenue of $25.01 million during the quarter, compared to analyst estimates of $31.37 million. Analysts anticipate that Summit Therapeutics PLC will post ($0.11) earnings per share for the current year.

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An institutional investor recently bought a new position in Summit Therapeutics PLC stock. Acadian Asset Management LLC purchased a new stake in shares of Summit Therapeutics PLC (NASDAQ:SMMT) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 12,850 shares of the company’s stock, valued at approximately $171,000. Acadian Asset Management LLC owned 0.10% of Summit Therapeutics PLC as of its most recent filing with the Securities and Exchange Commission (SEC). 21.77% of the stock is owned by institutional investors and hedge funds.

Summit Therapeutics PLC Company Profile

Summit Therapeutics plc is a biopharmaceutical company, which is engaged in drug development. The Company is focused on the discovery, development and commercialization of medicines for indications for which there are no existing or only inadequate therapies. It 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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