Summit Therapeutics (SMMT) Rated Buy on Ivonescimab’s Cancer-Fighting Potential

Summit Therapeutics Inc. (NASDAQ:SMMT) ranks among the 30 stocks expected to beat the market by 20 percentage points this year. Analysts at H.C. Wainwright reaffirmed their Buy rating on Summit Therapeutics Inc. (NASDAQ:SMMT) on June 2, citing a $44 price target. The analysts emphasized how Summit Therapeutics’ medication ivonescimab holds the potential to emerge as an elite checkpoint inhibitor for the treatment of solid cancers.

Summit Therapeutics (SMMT) Rated Buy on Ivonescimab’s Cancer-Fighting Potential

In spite of the overall survival hazard ratio’s lack of statistical significance, the analysts were generally positive about the HARMONi findings. They highlighted how ivonescimab may perform better than Merck’s KEYTRUDA in several circumstances.

In the KEYNOTE-789 study, Ivonescimab, in combination with chemotherapy, showed a progression-free survival hazard ratio of 0.52, which was higher than KEYTRUDA’s 0.8. The analysts concluded that this comparison points to ivonescimab’s potential superiority in treating EGFRmut non-small cell lung cancer (NSCLC), which is resistant to TKIs.

Summit Therapeutics Inc. (NASDAQ:SMMT) is a biopharmaceutical company that specializes in creating novel medications for infectious and cancerous diseases.

While we acknowledge the potential of SMMT as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

Read More: 10 Best Magic Formula Stocks for 2025 and 10 Best Retirement Stocks to Buy According to Hedge Funds

Disclosure: None.