Oppenheimer Maintains Their Hold Rating on Summit Therapeutics (SMMT)
In a report released yesterday, Hartaj Singh from Oppenheimer maintained a Hold rating on Summit Therapeutics (SMMT). The company’s shares closed yesterday at $1.30, close to its 52-week low of $1.10.
“We recently spent some time with Summit (SMMT) management on the road meeting with investors. We were pleasantly surprised at the upbeat tone with a short-/mid-term financing overhang removed due to an investment by a savvy biotech investor. With SMMT management eagerly looking forward to core asset ridinilazole’s two phase 3 clinical trials patient enrollment accelerating (first patient dosed today), we spent some time on the emerging Discuva platform and its potential advantages in infectious disease drug development. While we stay neutral, we look for continuing management execution to evolve our views.”
According to TipRanks.com, Singh is a 2-star analyst with an average return of 0.0% and a 43.2% success rate. Singh covers the Healthcare sector, focusing on stocks such as SELLAS Life Sciences Group Inc, Catabasis Pharmaceuticals, and Actinium Pharmaceuticals.
The the analyst consensus on Summit Therapeutics is currently a Hold rating.
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Based on Summit Therapeutics’ latest earnings release for the quarter ending October 31, the company reported a quarterly GAAP net loss of $10.55 million. In comparison, last year the company had a GAAP net loss of $15.53 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.