H.C. Wainwright lowered the firm’s price target on Summit Therapeutics (SMMT) to $40 from $50 and keeps a Buy rating on the shares. The firm cites “conservative” second-line EGFRmut approval odds and higher spending for the target cut. However, it recommends buying Summit shares ahead of HARMONi-2’s next survival analysis.
Claim 70% Off TipRanks Premium
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SMMT:
- Summit Therapeutics price target raised to $16 from $13 at Barclays
- Summit Therapeutics Advances Ivonescimab Development Amid Financial Growth
- Summit Therapeutics Launches New Phase III Study
- Summit Therapeutics price target lowered to $32 from $33 at Clear Street
- Morning Movers: Cleveland-Cliffs surges following earnings report