H.C. Wainwright Reiterates Neutral Rating on Summit Therapeutics plc (SMMT)

H.C. Wainwright analyst Mitchell S. Kapoor reiterated a Neutral rating and {REMOVEPT} price target on Summit Therapeutics plc (NASDAQ: SMMT).

The analyst commented: 'Sac-TMT ESMO data could strengthen pembro's position, limiting ivo’s upside even after a positive HARMONi-3 result. On October 13, Merck & Co. (MRK; not rated) confirmed presentations of Phase 3 OptiTROP-Lung06 in 1L PD-L1-negative nonsquamous NSCLC, final OS from OptiTROP-Lung04 in post-EGFR-TKI NSCLC, and global TroFuse-005 results in previously treated endometrial cancer. We believe Lung06 is the most consequential read-through, as sac-TMT + pembro could establish an improved pembro-containing regimen against which ivo’s eventual commercial position would need to be assessed. TroFuse-005 adds global randomized evidence for the same ADC, with Merck having already reported improvements in both OS and PFS. The latest release provides no new numerical efficacy results, and we make no changes to our estimates, valuation, or probability of approval. The ESMO presentations precede HARMONi-3’s expected 2H26 squamous cohort final PFS and interim OS analyses. We reiterate our Neutral rating without a 12-month price target."

For an analyst ratings summary and ratings history on Summit Therapeutics plc click here. For more ratings news on Summit Therapeutics plc click here.

Shares of Summit Therapeutics plc closed at $15.13 yesterday.

You May Also Be Interested In

• Dream Finders Holdings (DFH) Mentioned Cautiously at Bear Cave
• Active options: AAPL CRWV NVDA TSLA AMD BAC SPCX META AMZN GOOGL GME
• EU Begins Assessing Additional Sectors For China Trade Quotas - Bloomberg