BUZZ-Summit Therapeutics rises after Truist starts coverage with 'buy' rating

Reuters

Jan 08, 2025

** Shares of drug developer Summit Therapeutics rise ~4% to $18.88

** Brokerage Truist Securities starts coverage on SMMT with "buy" rating; PT $35

** PT represents a 92.7% upside to the stock's last close

** Last year, SMMT's ivonescimab showed better survival rates among lung cancer patients compared with Merck's Keytruda, world's biggest selling drug, in a late-stage study in China

** Brokerage estimates the drug could generate $7 bln in peak sales, primarily from lung cancer

** SMMT could also be a potential acquisition target - Truist Securities

** SMMT jumped ~580% in 2024

(Reporting by Kamal Choudhury in Bengaluru)

((Kamal.Choudhury@thomsonreuters.com;))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

{"basename":"","ssrTDKData":{"titleTemplate":"%s - Tiger Brokers","title":"Tiger Brokers | Global Stocks, Options & Futures Trading App","description":"Tiger Brokers, one-stop investment in US stocks, SGX stocks, HK stocks, A-shares & other global assets. One of the best stock trading platforms in Singapore.","keywords":"tiger brokers,tiger trade,tiger brokers singapore,broker online,stock trading in singapore,share trading singapore,brokerage firm singapore,trading app,stock broker singapore,stock trading platforms,trading account","social":{"ogDescription":"Tiger Brokers, one-stop investment in US stocks, SGX stocks, HK stocks, A-shares & other global assets. One of the best stock trading platforms in Singapore.","ogImage":"https://c1.itigergrowtha.com/portal5/static/media/og-logo.be62fbe1.png","ogUrl":"https://www.itiger.com/news/2501771581"},"companyName":"Tiger Brokers"},"pageData":{"isMobile":false,"isTiger":false,"isTTM":true,"region":"SGP","license":"TBSG","edition":"fundamental"},"isCrawlerRequest":true,"__swrFallback__":{"@#url:\"https://stock-news.skytigris.cn/v3/news\",params:#id:\"2501771581\",edition:\"fundamental\",auth_exemption:1,,,undefined,":{"share":"https://ttm.financial/m/news/2501771581?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2025-01-08 23:40","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2501771581","market":"us","top_or_hot":-1,"title":"BUZZ-Summit Therapeutics rises after Truist starts coverage with 'buy' rating","media":"Reuters","content":"<html><body><p>** Shares of drug developer Summit <a href=\"https://laohu8.com/S/LENZ\">Therapeutics</a>    rise ~4% to $18.88</p><p>   ** Brokerage Truist Securities starts coverage on SMMT with \"buy\" rating; PT $35</p><p>   ** PT represents a 92.7% upside to the stock's last close</p><p>   ** Last year, SMMT's ivonescimab showed better survival rates among lung cancer patients compared with Merck's    Keytruda, world's biggest selling drug, in a late-stage study in China</p><p>   ** Brokerage estimates the drug could generate $7 bln in peak sales, primarily from lung cancer</p><p>   ** SMMT could also be a potential acquisition target - Truist Securities</p><p>   ** SMMT jumped ~580% in 2024</p><p> (Reporting by Kamal Choudhury in Bengaluru)</p><p>((Kamal.Choudhury@thomsonreuters.com;))</p></body></html>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>BUZZ-Summit Therapeutics rises after Truist starts coverage with 'buy' rating</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBUZZ-Summit Therapeutics rises after Truist starts coverage with 'buy' rating\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2025-01-08 23:40</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><body><p>** Shares of drug developer Summit <a href=\"https://laohu8.com/S/LENZ\">Therapeutics</a>    rise ~4% to $18.88</p><p>   ** Brokerage Truist Securities starts coverage on SMMT with \"buy\" rating; PT $35</p><p>   ** PT represents a 92.7% upside to the stock's last close</p><p>   ** Last year, SMMT's ivonescimab showed better survival rates among lung cancer patients compared with Merck's    Keytruda, world's biggest selling drug, in a late-stage study in China</p><p>   ** Brokerage estimates the drug could generate $7 bln in peak sales, primarily from lung cancer</p><p>   ** SMMT could also be a potential acquisition target - Truist Securities</p><p>   ** SMMT jumped ~580% in 2024</p><p> (Reporting by Kamal Choudhury in Bengaluru)</p><p>((Kamal.Choudhury@thomsonreuters.com;))</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LENZ","symbol_name":"Therapeutics","start_time":0,"source_url":"https://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1","article_id":"2501771581","we_media_id":"1036604489","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2501771581","pubTimestamp":1736350855,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"summary":"** Shares of drug developer Summit Therapeutics    rise ~4% to $18.88   ** Brokerage Truist Securities starts coverage on SMMT with \"buy\" rating; PT $35   ** PT represents a 92.7% upside to the stock's last close   ** Last year, SMMT's ivonescimab showed better survival rates among lung cancer patients compared with Merck's    Keytruda, world's biggest selling drug, in a late-stage study in China   ** Brokerage estimates the drug could generate $7 bln in peak sales, primarily from lung cancer   ** SMMT could also be a potential acquisition target - Truist Securities   ** SMMT jumped ~580% in 2024 ","collect":0,"end_time":0,"defaultTopTitle":"","property":["rate"],"viewcount":null,"language":"en","relate_stocks":{"LENZ":"Therapeutics","SMMF":"Summit Financial Group","SMMT":"Summit Therapeutics PLC"},"translate_title":"Truist开始给予“买入”评级后，BUZZ-Summit Therapeutics股价上涨","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"SMMT":0.9,"LENZ":1,"SMMF":1},"content_text":"** Shares of drug developer Summit Therapeutics    rise ~4% to $18.88   ** Brokerage Truist Securities starts coverage on SMMT with \"buy\" rating; PT $35   ** PT represents a 92.7% upside to the stock's last close   ** Last year, SMMT's ivonescimab showed better survival rates among lung cancer patients compared with Merck's    Keytruda, world's biggest selling drug, in a late-stage study in China   ** Brokerage estimates the drug could generate $7 bln in peak sales, primarily from lung cancer   ** SMMT could also be a potential acquisition target - Truist Securities   ** SMMT jumped ~580% in 2024 (Reporting by Kamal Choudhury in Bengaluru)((Kamal.Choudhury@thomsonreuters.com;))","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1,"need_auth":false,"code":"91000000","status":"200"}}}