Summit Therapeutics (NASDAQ:SMMT) had its target price decreased by Needham & Company LLC from $30.00 to $27.00 in a research note issued to investors on Thursday, Marketbeat.com reports. Needham & Company LLC currently has a buy rating on the stock.
Other analysts have also issued reports about the company. HC Wainwright reaffirmed a buy rating and set a $16.00 target price on shares of Summit Therapeutics in a report on Thursday, January 25th. SunTrust Banks initiated coverage on Summit Therapeutics in a report on Thursday, January 4th. They set a buy rating and a $24.00 target price on the stock. BTIG Research initiated coverage on Summit Therapeutics in a report on Tuesday, February 13th. They set a buy rating and a $33.00 target price on the stock. Zacks Investment Research lowered Summit Therapeutics from a buy rating to a hold rating in a report on Thursday, March 8th. Finally, ValuEngine raised Summit Therapeutics from a sell rating to a hold rating in a report on Friday, March 2nd. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $24.57.
Summit Therapeutics stock traded up $0.07 during midday trading on Thursday, hitting $13.81. 13,116 shares of the company were exchanged, compared to its average volume of 79,023. Summit Therapeutics has a fifty-two week low of $8.80 and a fifty-two week high of $16.86.
A number of institutional investors and hedge funds have recently modified their holdings of SMMT. Susquehanna International Group LLP acquired a new stake in Summit Therapeutics in the third quarter valued at approximately $1,828,000. Acadian Asset Management LLC grew its holdings in Summit Therapeutics by 192.8% in the fourth quarter. Acadian Asset Management LLC now owns 144,083 shares of the company’s stock valued at $1,595,000 after purchasing an additional 94,876 shares during the period. Highbridge Capital Management LLC acquired a new stake in Summit Therapeutics in the third quarter valued at approximately $1,004,000. Alyeska Investment Group L.P. acquired a new stake in Summit Therapeutics in the third quarter valued at approximately $628,000. Finally, Millennium Management LLC grew its holdings in Summit Therapeutics by 29.5% in the fourth quarter. Millennium Management LLC now owns 99,873 shares of the company’s stock valued at $1,107,000 after purchasing an additional 22,759 shares during the period. 29.03% of the stock is currently owned by institutional investors.
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About Summit Therapeutics
Summit Therapeutics plc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of novel medicines to treat genetic 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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