Summit Therapeutics (SMMT) Receives a Buy from H.C. Wainwright

By Austin Angelo

H.C. Wainwright analyst Ed Arce maintained a Buy rating on Summit Therapeutics (SMMTResearch Report) today and set a price target of $4.00. The company’s shares closed last Thursday at $3.75.

According to TipRanks.com, Arce is a 5-star analyst with an average return of 14.2% and a 41.9% success rate. Arce covers the Healthcare sector, focusing on stocks such as Entasis Therapeutics Holdings, Madrigal Pharmaceuticals, and Collegium Pharmaceutical.

Summit Therapeutics has an analyst consensus of Moderate Buy, with a price target consensus of $4.00.

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Based on Summit Therapeutics’ latest earnings release for the quarter ending October 31, the company reported a quarterly revenue of $124K and GAAP net loss of $7.03 million. In comparison, last year the company earned revenue of $675K and had a GAAP net loss of $8.13 million.

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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.