UBS analyst David Dai has maintained their bullish stance on SMMT stock, giving a Buy rating yesterday.
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David Dai’s rating is based on the promising data from Summit Therapeutics’ HARMONi trials, which showed significant progression-free survival (PFS) benefits. The early separation of PFS curves suggests an effective anti-VEGF response, which is a positive indicator for the company’s therapeutic approach. Although the overall survival (OS) benefits were not statistically significant in the primary analysis, longer-term follow-up data showed a nominal improvement, providing a potential basis for regulatory submissions.
Furthermore, David Dai believes that the differences observed between Western and Asian populations in the trials do not negatively impact the global HARMONi-3/-7 trials’ outlook. The expectation of positive outcomes in these trials, particularly in the EGFR wild-type population, supports the Buy rating. Additionally, the anticipated positive OS data from the HARMONi-2 trial in the near term is expected to drive significant upside for the stock.
According to TipRanks, Dai is an analyst with an average return of -16.7% and a 34.21% success rate. Dai covers the Healthcare sector, focusing on stocks such as Telix Pharmaceuticals, Summit Therapeutics, and Nurix Therapeutics.
In another report released yesterday, Citi also maintained a Buy rating on the stock with a $35.00 price target.