UBS analyst David Dai has maintained their bullish stance on SMMT stock, giving a Buy rating on September 25.
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David Dai has given his Buy rating due to a combination of factors, primarily centered around the anticipated positive outcomes from the HARMONi-6 trial data to be presented at ESMO. The trial data is expected to show a statistically significant and clinically meaningful progression-free survival (PFS) hazard ratio for the combination of ivonescimab and chemotherapy compared to the control group. This positive expectation is based on a comprehensive statistical analysis that suggests a PFS hazard ratio between 0.62 and 0.69, which is below the clinically meaningful benchmark.
Moreover, there is a strong correlation between PFS and overall survival (OS) in immuno-oncology and chemotherapy trials, indicating that the expected PFS benefits could translate into significant OS improvements. The upcoming ESMO update is seen as a crucial catalyst for Summit Therapeutics, with the potential to drive substantial upside for the stock. These factors collectively underpin David Dai’s confidence in recommending a Buy rating for Summit Therapeutics.
According to TipRanks, Dai is an analyst with an average return of -9.6% and a 43.90% success rate. Dai covers the Healthcare sector, focusing on stocks such as Telix Pharmaceuticals, Summit Therapeutics, and Perspective Therapeutics.