Citi views the going concern language in Summit Therapeutics (SMMT)’ quarterly filing as a “non-issue.” The company can use equity, shareholders or partnerships to raise capital and auditors only count current cash on hand, the analyst tells investors in a research note. Citi keeps a Buy rating on Summit shares with a $35 price target post the Q2 report. The stock in afternoon trading is down 12%, or $3.48, to $24.78.
Claim 30% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SMMT:
- Summit Therapeutics notes ‘doubt’ about ability to continue as ‘going concern’
- Summit Therapeutics falls -12.5%
- Summit Therapeutics price target raised to $33 from $30 at Clear Street
- Ivonescimab’s Promising Potential to Outperform KEYTRUDA: A Strong Buy Recommendation
- Summit Therapeutics Reports Q2 2025 Progress and Financials