Fintel reports that on May 22, 2026, Bernstein initiated coverage of Summit Therapeutics (NasdaqGM:SMMT) with a Underperform recommendation.
Analyst Price Forecast Suggests 72.66% Upside
As of May 14, 2026, the average one-year price target for Summit Therapeutics is $30.16/share. The forecasts range from a low of $12.12 to a high of $47.25. The average price target represents an increase of 72.66% from its latest reported closing price of $17.47 / share.
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The projected annual revenue for Summit Therapeutics is 10MM, an increase of ∞%. The projected annual non-GAAP EPS is -0.42.
What is the Fund Sentiment?
There are 237 funds or institutions reporting positions in Summit Therapeutics. This is an decrease of 114 owner(s) or 32.48% in the last quarter. Average portfolio weight of all funds dedicated to SMMT is 0.18%, an increase of 14.17%. Total shares owned by institutions increased in the last three months by 6.34% to 130,917K shares. 
The put/call ratio of SMMT is 0.47, indicating a bullish outlook.
What are Other Shareholders Doing?
Baker Bros. Advisors holds 36,391K shares representing 4.69% ownership of the company. No change in the last quarter.
Price T Rowe Associates holds 8,278K shares representing 1.07% ownership of the company. In its prior filing, the firm reported owning 9,371K shares , representing a decrease of 13.21%. The firm decreased its portfolio allocation in SMMT by 7.23% over the last quarter.
Vanguard Capital Management holds 5,712K shares representing 0.74% ownership of the company.
Vanguard Portfolio Management holds 5,233K shares representing 0.67% ownership of the company.
UBS Group holds 3,680K shares representing 0.47% ownership of the company. In its prior filing, the firm reported owning 871K shares , representing an increase of 76.34%. The firm decreased its portfolio allocation in SMMT by 20.84% over the last quarter.
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This story originally appeared on Fintel.
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