Jefferies analyst Kelly Shi has maintained their bullish stance on SMMT stock, giving a Buy rating today.
Kelly Shi has given his Buy rating due to a combination of factors related to Summit Therapeutics’ promising developments in their clinical trials and financial stability. The company’s drug, Ivonescimab (Ivo), has recently gained two approvals in China for treating non-small cell lung cancer (NSCLC), showcasing its potential in the PD-1xVEGF space. The success in these trials, particularly the HARMONi-2 trial, which demonstrated a hazard ratio of 0.777 at 39% data maturity, indicates a strong likelihood of positive outcomes in ongoing global Phase 3 trials.
Additionally, Summit Therapeutics has a robust pipeline with multiple ongoing and planned trials, including collaborations with prominent research centers and pharmaceutical companies like Pfizer. The company’s financial health is reinforced by a substantial cash reserve of $361.3 million at the end of the first quarter of 2025, providing a solid foundation for continued research and development efforts. These factors collectively underpin Kelly Shi’s optimistic outlook and Buy rating for Summit Therapeutics’ stock.
In another report released today, H.C. Wainwright also reiterated a Buy rating on the stock with a $44.00 price target.
SMMT’s price has also changed moderately for the past six months – from $18.990 to $24.670, which is a 29.91% increase.