Summit Therapeutics price target lowered to $30 from $40 at H.C. Wainwright

H.C. Wainwright lowered the firm’s price target on Summit Therapeutics (SMMT) to $30 from $40 and keeps a Buy rating on the shares. The firm says that while the HARMONi-3 timelines remain intact, the absence of updated HARMONi-2 and HARMONi-6 overall survival analyses, which many investors expected by the end of 2025 or early 2026, “introduces near-term uncertainty that we cannot ignore.”