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The latest update is out from Summit Therapeutics ( (SMMT) ).
Summit Therapeutics announced significant progress in its ivonescimab development program, including the initiation of a new Phase III study, HARMONi-GI3, for colorectal cancer and plans for a Biologics License Application submission in late 2025. The company also reported positive results from the HARMONi-6 trial, showing a 40% reduction in disease progression risk in lung cancer patients, and outlined future expansions of its clinical trials, highlighting its strategic positioning in the oncology market.
The most recent analyst rating on (SMMT) stock is a Buy with a $30.00 price target. To see the full list of analyst forecasts on Summit Therapeutics stock, see the SMMT Stock Forecast page.
Spark’s Take on SMMT Stock
According to Spark, TipRanks’ AI Analyst, SMMT is a Neutral.
Summit Therapeutics’ stock score reflects significant financial challenges, including lack of revenue and ongoing losses, balanced by a strong equity position. Technical indicators show positive momentum, supporting short-term interest. Valuation remains weak due to negative earnings and no dividend. Positive clinical developments from the earnings call bolster the score, highlighting potential for future growth.
To see Spark’s full report on SMMT stock, click here.
More about Summit Therapeutics
Summit Therapeutics Inc. is a biopharmaceutical company focused on developing innovative therapies for serious diseases. The company specializes in the development and commercialization of ivonescimab, a potentially first-in-class bispecific antibody, targeting non-small cell lung cancer (NSCLC) and colorectal cancer (CRC) through its global Phase III clinical trials.
Average Trading Volume: 3,794,421
Technical Sentiment Signal: Buy
Current Market Cap: $15.59B
For detailed information about SMMT stock, go to TipRanks’ Stock Analysis page.