SMMT

Citigroup Initiates Coverage of Summit Therapeutics (SMMT) with Buy Recommendation

Fintel reports that on May 7, 2024, Citigroup initiated coverage of Summit Therapeutics (NasdaqGM:SMMT) with a Buy recommendation.

Analyst Price Forecast Suggests 53.67% Upside

As of May 2, 2024, the average one-year price target for Summit Therapeutics is 8.16. The forecasts range from a low of 8.08 to a high of $8.40. The average price target represents an increase of 53.67% from its latest reported closing price of 5.31.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Summit Therapeutics is 0MM, a decrease of NaN%. The projected annual non-GAAP EPS is -0.24.

What is the Fund Sentiment?

There are 207 funds or institutions reporting positions in Summit Therapeutics. This is an increase of 205 owner(s) or 10,250.00% in the last quarter. Average portfolio weight of all funds dedicated to SMMT is 0.04%, an increase of 639.83%. Total shares owned by institutions increased in the last three months by 299,914.92% to 34,451K shares. SMMT / Summit Therapeutics Inc. Put/Call Ratios The put/call ratio of SMMT is 0.35, indicating a bullish outlook.

What are Other Shareholders Doing?

SMMT / Summit Therapeutics Inc. Shares Held by Institutions

FBIOX - Biotechnology Portfolio holds 4,354K shares representing 0.62% ownership of the company.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 3,662K shares representing 0.52% ownership of the company. No change in the last quarter.

IWM - iShares Russell 2000 ETF holds 3,092K shares representing 0.44% ownership of the company. In its prior filing, the firm reported owning 2,716K shares , representing an increase of 12.15%. The firm increased its portfolio allocation in SMMT by 22.85% over the last quarter.

Geode Capital Management holds 3,086K shares representing 0.44% ownership of the company. In its prior filing, the firm reported owning 2,957K shares , representing an increase of 4.17%. The firm increased its portfolio allocation in SMMT by 27.92% over the last quarter.

VEXMX - Vanguard Extended Market Index Fund Investor Shares holds 1,833K shares representing 0.26% ownership of the company. No change in the last quarter.

Summit Therapeutics Background Information
(This description is provided by the company.)

Summit Therapeutics, empowered by its Discuva Platform, the Company's innovative antibiotic discovery engine, led by Dr. Ventzislav Stefanov and supported by BARDA and Carb-X funding, intends to be the leader in patient and physician friendly paradigm shifting antibiotic innovation. Its new mechanism antibiotics are designed to become the patient-friendly, new era standard-of-care, by working in harmony with the human microbiome to treat prospective patients suffering from infectious disease, initially focussing on Clostridioides difficile infections ("CDI") which is estimated to impact over 3 million patients worldwide annually. Commercialization of ridinilazole for the treatment of CDI is subject to regulatory approvals. The overriding objective of Summit Therapeutics is to create value for patients, hospital infectious disease care givers, community based infectious disease healthcare providers, as well as healthcare payors around the world. Currently, Summit's lead product candidate ridinilazole is engaged in two global phase III trials, Ri-CoDIFy 1 & 2, each enrolling 680 patients vs standard of care (Vancomycin) for the treatment of C. difficile infections.

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This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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