Clear Street analyst Bill Maughan last night initiated coverage of Summit Therapeutics (SMMT) with a Buy rating and $33 price target Summit is a biotechnology company developing a single asset, ivonescimab, which is “the most exciting pipeline molecule in oncology today,” the analyst tells investors in a research note. The firm says ivonescimab has already shown in multiple Phase 3 clinical studies that it can outperform standard-of-care immunotherapy, including the “best-selling global medicine” Keytruda in non-small cell lung cancer.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SMMT:
- Summit Therapeutics initiated with a Buy at Clear Street
- Summit Therapeutics initiated with a Buy at TD Cowen
- Summit Therapeutics’ Ivonescimab: A Potential Game-Changer in NSCLC Treatment with Promising HARMONi Trial Results
- BioNTech price target lowered to $132 from $140 at Morgan Stanley
- Summit Therapeutics’ Earnings Call: Ivonescimab’s Promising Progress
Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.
Report an Issue