H.C. Wainwright has released a research report raising Summit Therapeutics Inc. (SMMT.US) target price from $44 to $50 while maintaining a "Buy" rating. The firm indicated to investors that AKESO's ivonescimab Phase III HARMONi-A study data has validated Chinese clinical results, demonstrating superior efficacy compared to Keytruda. The report also emphasized that now presents an opportune time to position in Summit, given its unique advantages as AKESO's collaboration partner in the US market.
Summit is a biopharmaceutical company dedicated to developing and commercializing innovative therapies addressing severe unmet medical needs. The company's products focus on delivering benefits to patients, families, physicians, and society, aiming to extend life and improve quality of life. Summit's current clinical development programs are primarily concentrated in the Clostridioides difficile infection (CDI) therapeutic area.