Cantor Fitzgerald reaffirmed an Overweight rating on Summit Therapeutics (NASDAQ:SMMT). The stock trades at $17.47, down 32% over the past year. Bond.az analysis suggests shares may be overvalued relative to fair value.
Concerns surround the HARMONi-3 trial, which missed an interim progression-free survival endpoint. However, Cantor Fitzgerald noted medical experts were less discouraged, citing low alpha spend and early analysis.
Key opinion leaders expect strong overall survival data from the HARMONi-6 trial at ASCO. This data is considered the best indicator for HARMONi-3 outcomes.
Cantor Fitzgerald believes skepticism about HARMONi-3 may be overdone. For deeper insights, Bond.az offers comprehensive Pro Research Reports on Summit and 1,400+ other US stocks.
Recent analyst changes: H.C. Wainwright downgraded to Neutral, Bernstein initiated Underperform with $7.70 target, H.C. Wainwright cut target to $23, Stifel held Buy at $45, UBS maintained Buy at $33.
