Oppenheimer analyst Hartaj Singh maintained a Hold rating on Summit Therapeutics (SMMT) today. The company’s shares closed yesterday at $1.82, close to its 52-week low of $1.10.
Singh commented:
“Summit Therapeutics (SMMT) reported full-year 2018 results and provided a business update to investors yesterday. While the unmet need in novel antibiotic therapies remains large and fairly well understood, the road ahead for SMMT will require significant execution and education on its Discova platform and ability to address this need. In addition to early programs (SMT-571) making their way to the clinic, we anticipate awareness to increase as we approach the pivotal readout of the Phase 3 studies with ridinilazole in C. difficile recently initiated in last month. We stay neutral, but believe the comprehensive plan forward could enable the company to establish Summit’s innovative approach to novel (and differentiated) antibiotic development.”
According to TipRanks.com, Singh is a 3-star analyst with an average return of 2.1% and a 43.9% success rate. Singh covers the Healthcare sector, focusing on stocks such as Strongbridge Biopharma Plc, Catabasis Pharmaceuticals, and Actinium Pharmaceuticals.
Currently, the analyst consensus on Summit Therapeutics is a Moderate Buy with an average price target of $2.
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The company has a one-year high of $14.29 and a one-year low of $1.10. Currently, Summit Therapeutics has an average volume of 71.72K.
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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.
