Assessing Summit Therapeutics (SMMT) Valuation After FDA Acceptance Of Ivonescimab BLA

Simply Wall St.

Feb 05

Summit Therapeutics (SMMT) recently reported that the FDA accepted its Biologics License Application for ivonescimab in EGFR mutated non small cell lung cancer and set a PDUFA action date of November ...

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Recent 30 and 90 day share price returns of...","collect":0,"end_time":0,"defaultTopTitle":"simplywall.st","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4139":"生物科技","SMMT":"Summit Therapeutics PLC","DCF":"Dreyfus Alcentra Global Credit Income 2024 Target Term Fund, Inc","LU2488822045.USD":"ALLIANZ CHINA HEALTHY LIVING \"AT\" (USD) ACC"},"translate_title":"FDA接受Ivonescimab BLA后评估Summit Therapeutics(SMMT)的估值","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"SMMT":1.5,"DCF":1},"content_text":"Summit Therapeutics (SMMT) recently reported that the FDA accepted its Biologics License Application for ivonescimab in EGFR mutated non small cell lung cancer and set a PDUFA action date of November 14, 2026. See our latest analysis for Summit Therapeutics. Summit Therapeutics’ latest FDA milestone comes after a mixed stretch for investors, with a 1 year total shareholder return decline of 29.24% but a very large 3 year total shareholder return. Recent 30 and 90 day share price returns of 16.72% and 19.26% declines suggest momentum has cooled despite the long term track record. If this oncology update has your attention, it could be a good moment to scan other opportunities across healthcare stocks that might fit a similar high impact, research driven profile. With shares at US$14.59, a value score of 2, and a very large 3 year return already on the board, the key question now is whether Summit is still mispriced or if the market is already accounting for potential future growth. AdvertisementPreferred Price to Book Multiple of 58.5x: Is it justified? Summit Therapeutics is trading at a P/B of 58.5x, which is far above both the US Biotechs industry average of 2.7x and the peer average of 10.5x. The P/B ratio compares the company’s market value to its book value, which is essentially the net assets on the balance sheet. For early stage biopharma names with limited current revenue and ongoing losses, a high P/B often signals that investors are heavily focused on future potential rather than present financials. In Summit’s case, the SWS DCF model indicates the shares are trading at a very large discount to an estimated future cash flow value of $213.88 per share. This is occurring even though traditional balance sheet based metrics flag the stock as expensive compared with both industry and peer P/B benchmarks. That tension between a rich P/B multiple and a very large DCF implied discount has become a key part of the Summit valuation debate. Compared with the US Biotechs industry average P/B of 2.7x and a peer group at 10.5x, Summit’s 58.5x multiple stands out as materially higher and suggests the market is pricing in a very optimistic outcome relative to most comparables. See what the numbers say about this price — find out in our valuation breakdown. Result: Price to book ratio of 58.5x (OVERVALUED) However, there are clear pressure points, including a recent 1 year total shareholder return decline of 29.24% and an annual net income loss of US$921.617 million, that could unsettle confidence. Find out about the key risks to this Summit Therapeutics narrative. Another View on Summit’s Valuation Those rich P/B comparisons sit alongside a very different signal from the SWS DCF model. On that view, Summit at $14.59 screens as significantly undervalued versus an estimated future cash flow value of $213.88 per share, which indicates a large potential gap between price and the modeled fundamentals. Look into how the SWS DCF model arrives at its fair value. SMMT Discounted Cash Flow as at Feb 2026Simply Wall St performs a discounted cash flow (DCF) on every stock in the world every day (check out Summit Therapeutics for example). We show the entire calculation in full. You can track the result in your watchlist or portfolio and be alerted when this changes, or use our stock screener to discover 866 undervalued stocks based on their cash flows. If you save a screener we even alert you when new companies match - so you never miss a potential opportunity.  Build Your Own Summit Therapeutics Narrative If you see the numbers differently or want to test your own assumptions, you can pull up the same data and build a custom view in just a few minutes with Do it your way. A great starting point for your Summit Therapeutics research is our analysis highlighting 2 key rewards and 2 important warning signs that could impact your investment decision. Ready for more investment ideas beyond Summit? If you are weighing what to do next after looking at Summit, this is a smart moment to widen your watchlist with a few structured screeners.  Target potential value opportunities by scanning these 866 undervalued stocks based on cash flows built around cash flow based pricing checks that can help surface companies the market might be overlooking. Spot emerging themes by reviewing these 26 AI penny stocks focused on smaller AI names that still pair growth potential with more grounded financial profiles. Strengthen your income ideas with these 13 dividend stocks with yields > 3% that highlight companies offering yields above 3% for investors who want returns tied to cash distributions.   This article by Simply Wall St is general in nature. We provide commentary based on historical data\n    and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your\n    financial situation. We aim to bring you long-term focused analysis driven by fundamental data.\n    Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.\n    Simply Wall St has no position in any stocks mentioned.New: Manage All Your Stock Portfolios in One PlaceWe've created the ultimate portfolio companion for stock investors, and it's free.• Connect an unlimited number of Portfolios and see your total in one currency• Be alerted to new Warning Signs or Risks via email or mobile• Track the Fair Value of your stocksTry a Demo Portfolio for FreeHave feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.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":"productRelease","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"}}}