Jefferies Upgrades Summit Therapeutics to Buy from Hold
Fintel reports that on September 9, 2026, Jefferies upgraded their outlook for Summit Therapeutics (NASDAQGM:SMMT) from Hold to Buy. This upgrade follows a prior action by Jefferies on March 16, 2026, when the firm downgraded the company from Buy to Hold.
Summit Therapeutics Inc. is a biopharmaceutical company focused on the discovery, development, and commercialization of patient, physician, caregiver, and societal-friendly medicinal therapies intended to improve quality of life, increase potential duration of life, and resolve serious unmet medical needs. The Company’s pipeline of product candidates is designed with the goal to become the patient-friendly, new-era standard-of-care medicines, in the therapeutic area of oncology.
On September 8, 2026, the day before the rating action, the stock closed at $17.28. On September 9, 2026, the latest close was recorded at $17.54. Looking at recent performance, the stock experienced a price change of +20.14% over one week, compared to a baseline close of $14.60 on September 2, 2026. Over a one-month period, the price change was +25.64% from a baseline close of $13.96 on August 7, 2026.
Summit Therapeutics reported its latest earnings on July 23, 2026. The company reported an actual earnings per share (EPS) of -0.28, compared to an estimated EPS of -0.2849. Both actual and estimated revenues for the period were $0.00.
Separately from the Jefferies rating, the current consensus target mean for the stock was $28.47 as of August 28, 2026, representing an implied change of +62.34% from previous levels. The current consensus target median was $31.62 as of the same date. This compares to a prior consensus target mean of $30.11 on August 4, 2026, reflecting a consensus target revision of -5.45%.
As of the current recommendation period on September 1, 2026, the aggregate analyst recommendations consisted of 5 strong buy, 11 buy, 8 hold, 0 sell, and 0 strong sell ratings, totaling 24 recommendations. This represents 66.7% positive, 33.3% hold, and 0.0% negative recommendations. In the prior recommendation period on August 1, 2026, the total of 24 recommendations included 5 strong buy, 11 buy, 6 hold, 1 sell, and 1 strong sell ratings, which represented 66.7% positive, 25.0% hold, and 8.3% negative recommendations.
Other recent analyst actions include HC Wainwright & Co. reiterating a Neutral rating on August 26, 2026, and Bernstein upgrading the stock from Underperform to Market Perform on August 25, 2026. Prior to that, HC Wainwright & Co. reiterated a Neutral rating on August 18, 2026, and Leerink Partners upgraded the stock from Underperform to Market Perform on August 12, 2026.
According to regulatory filings, Summit Therapeutics filed a Form 8-K on September 3, 2026, with an earliest event date of September 2, 2026. The company also filed a Form 8-K on August 5, 2026, with an earliest event date of August 5, 2026. Both filings list the company's principal executive offices at 601 Brickell Key Drive, Suite 1000, Miami, FL 33131.
Recent analyst actions
| Date | Analyst | Prior | Latest recommendation | Action |
|---|---|---|---|---|
| September 9, 2026 | Jefferies | Hold | Buy | upgrade |
| August 26, 2026 | HC Wainwright & Co. | Neutral | Neutral | reiterated |
| August 25, 2026 | Bernstein | Underperform | Market Perform | upgrade |
| August 18, 2026 | HC Wainwright & Co. | Neutral | Neutral | reiterated |
| August 12, 2026 | Leerink Partners | Underperform | Market Perform | upgrade |
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This story originally appeared on Fintel.