The stock of Summit Therapeutics PLC (ADR) (NASDAQ:SMMT) hit a new 52-week high and has $24.43 target or 48.00% above today’s $16.51 share price. The 7 months bullish chart indicates low risk for the $106.37 million company. The 1-year high was reported on Oct, 4 by Barchart.com. If the $24.43 price target is reached, the company will be worth $51.06M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 2.24 million shares traded hands or 5425.27% up from the average. Summit Therapeutics PLC (ADR) (NASDAQ:SMMT) has risen 31.06% since March 1, 2016 and is uptrending. It has outperformed by 21.82% the S&P500.
Summit Therapeutics PLC (ADR) (NASDAQ:SMMT) Ratings Coverage
Out of 3 analysts covering Summit Therapeutic (NASDAQ:SMMT), 2 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 67% are positive. $28 is the highest target while $26 is the lowest. The $27 average target is 63.54% above today’s ($16.51) stock price. Summit Therapeutic has been the topic of 4 analyst reports since August 19, 2015 according to StockzIntelligence Inc. Zacks downgraded the stock to “Hold” rating in Tuesday, September 1 report. The firm has “Buy” rating given on Wednesday, August 19 by Oppenheimer. H.C. Wainwright initiated Summit Therapeutics PLC (ADR) (NASDAQ:SMMT) rating on Friday, September 16. H.C. Wainwright has “Buy” rating and $26 price target. The stock of Summit Therapeutics PLC (ADR) (NASDAQ:SMMT) has “Buy” rating given on Tuesday, June 21 by Janney Capital.
According to Zacks Investment Research, “Summit Therapeutics PLC is engaged in the discovery and development of drug to treat the fatal muscle wasting disease Duchenne Muscular Dystrophy and infections caused by the bacteria C. difficile. Summit Therapeutics PLC is headquartered in Abingdon, the United Kingdom.”
More notable recent Summit Therapeutics PLC (ADR) (NASDAQ:SMMT) news were published by: Marketwatch.com which released: “Summit Therapeutics PLC ADR” on April 22, 2011, also Schaeffersresearch.com with their article: “Biotech Buzz: Axovant Sciences Ltd, Summit Therapeutics PLC (ADR), and Mylan NV” published on September 26, 2016, Quotes.Wsj.com published: “DOW JONES, A NEWS CORP COMPANY” on February 13, 2011. More interesting news about Summit Therapeutics PLC (ADR) (NASDAQ:SMMT) were released by: Businessfinancenews.com and their article: “Summit Therapeutics Receives Phase 2 Trial Approval for DMD Patients” published on January 21, 2016 as well as Benzinga.com‘s news article titled: “15 Stocks Moving In Tuesday’s Pre-Market Session” with publication date: October 04, 2016.
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