Janney lifts Summit Therapeutics Inc. [SMMT] price estimate. Who else is bullish?

Summit Therapeutics Inc. [NASDAQ: SMMT] traded at a low on 01/19/23, posting a -4.94 loss after which it closed the day’ session at $4.23. The company report on January 5, 2023 that Summit Therapeutics to Present at the 41st Annual J.P. Morgan Healthcare Conference.

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Summit Therapeutics Inc. (NASDAQ: SMMT) (“Summit,” “we,” or the “Company”) today announced that it will participate in and present at the 41st Annual J.P. Morgan Healthcare Conference on Monday, January 09, 2023, at 3:45 PM PST. Robert W. Duggan, Chairman and Chief Executive Officer, and Dr. Maky Zanganeh, Co-Chief Executive Officer and President, will provide details regarding our Company following the announcement of our agreement to in-license the breakthrough innovative bispecific antibody, ivonescimab (SMT112).

In addition to live attendance at the conference, the audio presentation will be available live from our website: www.summittxinc.com.

The results of the trading session contributed to over 3348746 shares changing hands. Over the past one week, the price volatility of Summit Therapeutics Inc. stands at 18.56% while the volatility over the past one month is 23.91%.

The market cap for SMMT stock reached $713.18 million, with 148.58 million shares outstanding and 34.00 million shares in the current float. Compared to the average trading volume of 9.33M shares, SMMT reached a trading volume of 3348746 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Summit Therapeutics Inc. [SMMT]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for SMMT shares is $5.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on SMMT stock is a recommendation set at 1.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Janney have made an estimate for Summit Therapeutics Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on June 28, 2018. While these analysts kept the previous recommendation, Janney raised their target price to Buy. The new note on the price target was released on May 02, 2018, representing the official price target for Summit Therapeutics Inc. stock. Previously, the target price had yet another drop from $30 to $27, while Needham kept a Buy rating on SMMT stock.

The Average True Range (ATR) for Summit Therapeutics Inc. is set at 0.82, with the Price to Sales ratio for SMMT stock in the period of the last 12 months amounting to 713.18. The Price to Book ratio for the last quarter was 4.70, with the Price to Cash per share for the same quarter was set at 0.72.

How has SMMT stock performed recently?

Summit Therapeutics Inc. [SMMT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 10.44. With this latest performance, SMMT shares gained by 17.17% in over the last four-week period, additionally plugging by 261.54% over the last 6 months – not to mention a rise of 88.00% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SMMT stock in for the last two-week period is set at 52.88, with the RSI for the last a single of trading hit 49.98, and the three-weeks RSI is set at 54.66 for Summit Therapeutics Inc. [SMMT]. The present Moving Average for the last 50 days of trading for this stock 2.81, while it was recorded at 4.42 for the last single week of trading, and 1.63 for the last 200 days.

Summit Therapeutics Inc. [SMMT]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Summit Therapeutics Inc. [SMMT] shares currently have an operating margin of -8330.93. Summit Therapeutics Inc.’s Net Margin is presently recorded at -6127.56.

Return on Total Capital for SMMT is now -89.97, given the latest momentum, and Return on Invested Capital for the company is -66.53. Return on Equity for this stock declined to -66.74, with Return on Assets sitting at -52.86. When it comes to the capital structure of this company, Summit Therapeutics Inc. [SMMT] has a Total Debt to Total Equity ratio set at 0.59. Additionally, SMMT Total Debt to Total Capital is recorded at 0.58, with Total Debt to Total Assets ending up at 0.45. Long-Term Debt to Equity for the company is recorded at 0.09, with the Long-Term Debt to Total Capital now at 0.09.

Reflecting on the efficiency of the workforce at the company, Summit Therapeutics Inc. [SMMT] managed to generate an average of -$650,580 per employee. Receivables Turnover for the company is 0.10 with a Total Asset Turnover recorded at a value of 0.01.Summit Therapeutics Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 8.20 and a Current Ratio set at 8.20.

Insider trade positions for Summit Therapeutics Inc. [SMMT]

There are presently around $14 million, or 1.70% of SMMT stock, in the hands of institutional investors. The top three institutional holders of SMMT stocks are: VANGUARD GROUP INC with ownership of 775,922, which is approximately 0% of the company’s market cap and around 90.80% of the total institutional ownership; MILLENNIUM MANAGEMENT LLC, holding 431,560 shares of the stock with an approximate value of $1.82 million in SMMT stocks shares; and BLACKROCK INC., currently with $1.78 million in SMMT stock with ownership of nearly 39.336% of the company’s market capitalization.

Positions in Summit Therapeutics Inc. stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 27 institutional holders increased their position in Summit Therapeutics Inc. [NASDAQ:SMMT] by around 972,465 shares. Additionally, 15 investors decreased positions by around 6,230,569 shares, while 15 investors held positions by with 3,994,449 shares. The mentioned changes placed institutional holdings at 3,208,585 shares, according to the latest SEC report filing. SMMT stock had 13 new institutional investments in for a total of 309,462 shares, while 10 institutional investors sold positions of 6,187,879 shares during the same period.


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