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Investing.com - Citizens has reiterated its Market Outperform rating and $40.00 price target on Summit Therapeutics plc (NASDAQ:SMMT), a $15.6 billion market cap biotech company, following positive data for its cancer drug ivonescimab. The stock has declined 8.5% over the past week, with analyst targets ranging from $12 to $49.
The firm highlighted ivonescimab’s "broad dominance" in a head-to-head trial against tislelizumab (tisle), suggesting strong potential performance against pembrolizumab in the non-small cell lung cancer (NSCLC) market.
Citizens noted that ivonescimab demonstrated efficacy across all patient subgroups regardless of PD-L1 Tumor Proportion Score (TPS), indicating versatility in first-line NSCLC treatment settings.
The research firm emphasized that ivonescimab’s superiority over tislelizumab could potentially be extrapolated to other checkpoint inhibitor approved indications, expanding its market potential.
Get deeper insights into Summit’s financial health and growth prospects with InvestingPro, which offers exclusive analysis and 10+ additional ProTips for SMMT. Summit Therapeutics is scheduled to host a conference call Monday at 8 a.m. ET to discuss both the ESMO presentation details and its third-quarter 2025 earnings results.
In other recent news, Summit Therapeutics has garnered attention with several analyst ratings reflecting varying perspectives on the company’s potential. UBS reaffirmed a Buy rating with a $30.00 price target, maintaining a positive outlook as Summit prepares to present detailed data from its HARMONi-6 trial at the European Society for Medical Oncology conference in October. Meanwhile, Barclays initiated coverage with an Underweight rating and a $13.00 price target, citing concerns over the competitive landscape in the lung cancer market and regulatory challenges for Summit’s ivonescimab. H.C. Wainwright reiterated its Buy rating and set a $50.00 price target, highlighting the significant clinical milestones achieved by ivonescimab, particularly in extending median progression-free survival in trials. JMP Securities also maintained a Market Outperform rating with a $40.00 price target following the presentation of longer-term data from the global Phase 3 HARMONi trial. These developments indicate a range of analyst opinions, providing investors with diverse insights into Summit Therapeutics’ current and future prospects.
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