Stifel Nicolaus Keeps Their Buy Rating on Summit Therapeutics (SMMT)

In a report released today, Bradley Canino from Stifel Nicolaus maintained a Buy rating on Summit Therapeutics (SMMT – Research Report), with a price target of $40.00. The company’s shares closed yesterday at $18.61.

Canino covers the Healthcare sector, focusing on stocks such as Blueprint Medicines, Summit Therapeutics, and Syndax Pharmaceuticals. According to TipRanks, Canino has an average return of 6.6% and a 38.89% success rate on recommended stocks.

In addition to Stifel Nicolaus, Summit Therapeutics also received a Buy from H.C. Wainwright’s Mitchell Kapoor in a report issued today. However, on September 27, Citi downgraded Summit Therapeutics (NASDAQ: SMMT) to a Hold.

Based on Summit Therapeutics’ latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $60.39 million. In comparison, last year the company had a GAAP net loss of $14.72 million

Based on the recent corporate insider activity of 12 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of SMMT in relation to earlier this year. Earlier this month, Maky Zanganeh, the Co- CEO of SMMT bought 315,681.00 shares for a total of $498,775.98.

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Summit Therapeutics (SMMT) Company Description:

Summit Therapeutics Plc operates as a holding company, which engages in the discovery, development, and commercialization of antibiotic medicines. The company operates through the Drug Development segment, which covers its research and development activities carried out by the Group. Summit Therapeutics was founded by Stephen Graham Davies and Kay Dame Davies in January 2003 and is headquartered in Abingdon, the United Kingdom.