10 Stocks Under $20 to Buy According to Analysts

2. Summit Therapeutics Inc. (NASDAQ:SMMT)

Share Price: $19.23

Average Price Target Upside Potential According to Analysts: 79.41%

Number of Hedge Fund Holders: 30

Summit Therapeutics Inc. (NASDAQ:SMMT) is one of the top stocks under $20 to buy according to analysts. On October 20, Jefferies reduced its price target for Summit Therapeutics Inc. (NASDAQ:SMMT) from $44 to $42 and kept a Buy rating.

This decision came after Summit Therapeutics Inc. (NASDAQ:SMMT) experienced some volatility because investors had mixed reactions to recent updates from the company.

Summit Therapeutics Inc. (NASDAQ:SMMT) amended the protocol for the HARMONi-3 study, which Jefferies sees as positive. The firm believes that the protocol change can minimize risk and improve the chances that the trial could succeed.

Additionally, Jefferies pointed out that Summit Therapeutics Inc. (NASDAQ:SMMT) is on track to submit its Biologics License Application (BLA) in Q4 to get approval for ivonescimab plus chemotherapy.

However, the research firm noted that some investors might have hoped for more business development activities or other news that could have helped the company’s balance sheet for funding planned studies.

Summit Therapeutics Inc. (NASDAQ:SMMT) is a biopharmaceutical company focused on discovering, developing, and commercializing medicinal therapies for serious unmet medical needs, mainly in oncology.