Summit Therapeutics (SMMT) has received a new Buy rating, initiated by TD Cowen analyst, Tyler Van Buren.
Tyler Van Buren has given his Buy rating due to a combination of factors that highlight the potential of Summit Therapeutics’ ivonescimab. This bispecific antibody, which targets both PD-1 and VEGF pathways, has shown unprecedented efficacy in clinical trials, outperforming both chemotherapy and existing immune checkpoint inhibitors in treating non-small cell lung cancer (NSCLC). The drug’s unique tetravalent design enhances its binding affinity, offering a significant advantage over single-agent therapies.
Furthermore, the promising results from the HARMONi trials, including superior progression-free survival and overall survival rates, suggest that ivonescimab could capture a substantial portion of the growing checkpoint inhibitor market, estimated at around $50 billion. With the upcoming Phase III HARMONi data expected to further validate these findings, Van Buren sees a de-risked opportunity for Summit Therapeutics to expand its market presence, particularly in the lucrative first-line NSCLC segment.
Van Buren covers the Healthcare sector, focusing on stocks such as BridgeBio Pharma, Regeneron, and Moderna. According to TipRanks, Van Buren has an average return of -2.8% and a 41.29% success rate on recommended stocks.