Canaccord Genuity Sticks to Their Buy Rating for Summit Therapeutics


Canaccord Genuity analyst Arlinda Lee maintained a Buy rating on Summit Therapeutics (NASDAQ: SMMT) on June 10 and set a price target of $28. The company’s shares opened today at $12.90.

According to TipRanks.com, Lee is a 4-star analyst with an average return of 6.4% and a 45.5% success rate. Lee covers the Healthcare sector, focusing on stocks such as Karyopharm Therapeutics, Aquinox Pharmaceuticals, and Zynerba Pharmaceuticals.

Currently, the analyst consensus on Summit Therapeutics is Strong Buy and the average price target is $28, representing an 117.1% upside.

In a report issued on June 6, H.C. Wainwright also maintained a Buy rating on the stock with a $20 price target.

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Based on Summit Therapeutics’ latest earnings release for the quarter ending April 30, the company reported a quarterly GAAP net loss of $8.17 million. In comparison, last year the company had a GAAP net loss of $5.94 million.

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Summit Therapeutics Plc is a holding company, which engages in the discovery, development, and commercialization of novel medicines. It focuses on the genetic disease duchenne muscular dystrophy, and the infectious disease clostridium difficile infection.

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