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SMMT

Summit Therapeutics

$13.37

-0.01 (-0.07%)

08:27
04/12/18
04/12
08:27
04/12/18
08:27

Summit Therapeutics price target lowered to $27 at Needham on equity dilution

Needham analyst Chad Messer lowered his price target on Summit Therapeutics to $27 from $30, citing the impact of the recently announced GBP15M equity raise. The analyst keeps his Buy rating on stock, noting he remains positive on Summit Therapeutics after its Phase 2 readout of the PhaseOut DMD study of ezutromid as the 24-week data "demonstrated a clear sign of drug efficacy" while de-risking the program "meaningfully".

SMMT Summit Therapeutics
$13.37

-0.01 (-0.07%)

01/25/18
HCWC
01/25/18
NO CHANGE
Target $75
HCWC
Buy
H.C. Wainwright sees potential competitive advantages for Sarepta
H.C. Wainwright analyst Debjit Chattopadhyay says the "steady percolation of not so good news" that delayed the initial public offering of Solid Biosciences translates into potential competitive advantages for Sarepta Therapeutics (SRPT). In addition, the analyst believes Sarepta partner Summit Therapeutics' (SMMT) preliminary analysis this morning from its ongoing Duchenne muscular dystrophy Phase 2 study provided "mixed signals." Chattopadhyay keeps a Buy rating on Sarepta with a $75 price target. The stock in afternoon trading is up 3%, or $2.17, to $67.95.
02/13/18
BTIG
02/13/18
INITIATION
Target $33
BTIG
Buy
Summit Therapeutics initiated with a Buy at BTIG
BTIG analyst Timothy Chiang started Summit Therapeutics with a Buy rating and $33 price target. The company is positioned for upside with its two pipeline products, ezutromid and ridinilazole, Chiang tells investors in a research note.
02/13/18
BTIG
02/13/18
INITIATION
Target $33
BTIG
Buy
Summit Therapeutics initiated with a Buy at BTIG
BTIG analyst Timothy Chiang initiated Summit Therapeutics with a Buy rating and a price target of $33. Chiang says the company has positioned itself for upside with two pipeline products: ezutromid for the treatment of Duchenne Muscular Dystrophy, in Phase 2 with recently announced positive interim data, and ridinilazole antibiotic for the treatment of Clostridium infections, entering Phase 3 trials. Given that the former recently showed positive proof of concept data, the analyst contends that it provides additional support for the company's utrophin modulator - a potential new treatment for all 50K patients WW who suffer from DMD. Chiang sees the next potential catalyst for the stock as the release of additional results from its phaseout Phase 2 trial in about 40 patients in Q3 of this year.
03/28/18
JMPS
03/28/18
NO CHANGE
Target $42
JMPS
Outperform
FDA guidance to Sarepta could speed Summit's DMD path, says JMP Securities
JMP Securities analyst Liisa Bayko noted that the FDA recently communicated to Sarepta Therapeutics (SRPT) that it would allow a statistically significant increase in de novo truncated dystrophin to serve as the basis for accelerated approval for golodirsen. She thinks this could also open the door for Summit Therapeutics (SMMT) to utilize utrophin as a potential biomarker for accelerated approval of ezutromid, its own Duchenne muscular dystrophy candidate, adding that she sees an accelerated path as upside to her valuation. Bayko keeps an Outperform rating and $42 price target on Summit shares.

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