SUMMIT THERAPEU/S (NASDAQ:SMMT) Upgraded to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of SUMMIT THERAPEU/S (NASDAQ:SMMT) from a hold rating to a buy rating in a report issued on Tuesday morning, Zacks.com reports. The firm currently has $1.75 price objective on the stock.

According to Zacks, “Summit Therapeutics PLC is engaged in the discovery and development of drug to treat the fatal muscle wasting disease Duchenne Muscular Dystrophy and infections caused by the bacteria C. difficile. Summit Therapeutics PLC is headquartered in Abingdon, the United Kingdom. “

SMMT has been the topic of several other research reports. TheStreet lowered SUMMIT THERAPEU/S from a c- rating to a d- rating in a report on Friday, October 11th. ValuEngine upgraded SUMMIT THERAPEU/S from a sell rating to a hold rating in a report on Thursday, August 1st. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company has an average rating of Hold and an average target price of $1.88.

NASDAQ:SMMT traded up $0.10 on Tuesday, hitting $1.72. The stock had a trading volume of 300 shares, compared to its average volume of 60,279. The business’s fifty day moving average is $1.50 and its 200 day moving average is $1.53. The company has a market cap of $51.36 million, a PE ratio of 1.98 and a beta of 1.25. The company has a quick ratio of 3.93, a current ratio of 3.47 and a debt-to-equity ratio of 0.01. SUMMIT THERAPEU/S has a 52 week low of $1.10 and a 52 week high of $2.46.

A hedge fund recently raised its stake in SUMMIT THERAPEU/S stock. Bank of New York Mellon Corp boosted its position in SUMMIT THERAPEU/S (NASDAQ:SMMT) by 120.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 216,897 shares of the company’s stock after acquiring an additional 118,501 shares during the period. Bank of New York Mellon Corp owned 1.57% of SUMMIT THERAPEU/S worth $274,000 as of its most recent SEC filing. 8.30% of the stock is currently owned by hedge funds and other institutional investors.

About SUMMIT THERAPEU/S

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).

Read More: Why is the price-sales ratio important?

Get a free copy of the Zacks research report on SUMMIT THERAPEU/S (SMMT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for SUMMIT THERAPEU/S Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SUMMIT THERAPEU/S and related companies with MarketBeat.com's FREE daily email newsletter.