H.C. Wainwright reaffirms Buy rating for Summit Therapeutics with $44 price target.

From Yahoo Finance: 2025-06-25 18:30:00

H.C. Wainwright reaffirms Buy rating for Summit Therapeutics with $44 price target, double current share price. Analysts see strong Buy consensus, focusing on Ivonescimab drug’s potential to set new standard in tumor treatment based on HARMONi trial results. Market cap at $13.5 billion, catching street’s attention.

Ivonescimab shows promising progression-free survival ratio of 0.52 when combined with chemo, outperforming Merck’s KEYTRUDA. Despite recent stock drop, Wainwright argues market overlooks potential as no competing drug hits statistical significance. Summit’s beta at -0.95 suggests it moves opposite market, a consideration for investors.

Lab technician in protective suit developing innovative therapeutics for immune-related diseases.

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Read more: H.C. Wainwright Sticks With Bullish Call on Summit Therapeutics, $44 Target