Summit Therapeutics PLC (SMMT) shares are soaring 5.15% in intraday trading on Thursday, following TD Cowen's initiation of coverage on the stock with a Buy rating. This positive analyst action has sparked investor interest in the biopharmaceutical company.
TD Cowen's bullish stance on Summit Therapeutics comes with a significant price target of $37.38, suggesting substantial upside potential from current levels. This new coverage adds to the overall positive sentiment surrounding the company, as FactSet reports that Summit Therapeutics now has an average rating of Buy from analysts.
Summit Therapeutics, a biopharmaceutical company focused on developing innovative therapies, has been gaining attention in the market. The strong analyst endorsement and optimistic price target indicate confidence in the company's pipeline and growth prospects. Investors will likely be watching closely for further developments from Summit Therapeutics as it continues to advance its drug candidates and potentially capitalize on new opportunities in the healthcare sector.
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