In a report released today, Arlinda Lee from Canaccord Genuity maintained a Buy rating on Summit Therapeutics (NASDAQ: SMMT), with a price target of $3. The company’s shares opened today at $2.48, close to its 52-week low of $1.94.
Lee observed:
“We continue to view ridinilazole as potentially best in class and maintain our BUY rating.”
According to TipRanks.com, Lee is a 2-star analyst with an average return of 0.2% and a 42.6% success rate. Lee covers the Healthcare sector, focusing on stocks such as Deciphera Pharmaceuticals Inc, Eloxx Pharmaceuticals Inc, and Karyopharm Therapeutics.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Summit Therapeutics with a $3.33 average 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 net profit of $14.1 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.
