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Summit Therapeutics ( (SMMT) ) has shared an update.
Summit Therapeutics Inc. has entered into a sub-sublease agreement with Ascendis Pharma, Inc. for office space in Palo Alto, California. Effective June 16, 2025, the agreement covers 36,406 square feet and will commence on January 1, 2026, running until October 28, 2033, with annual lease payments averaging $2.8 million.
The most recent analyst rating on (SMMT) stock is a Buy with a $31.00 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
Average Trading Volume: 4,803,691
Technical Sentiment Signal: Buy
Current Market Cap: $14.97B
For an in-depth examination of SMMT stock, go to TipRanks’ Overview page.