Citizens reiterates Summit Therapeutics stock rating on trial data

Citizens maintains an Outperform rating and sets $40.00 price target for Summit Therapeutics stock (NASDAQ: SMMT). Analysts project price targets spanning from $10.74 to $40.71. The firm's rating hinges on discounted earnings per share and revenue multiples. Summit Therapeutics disclosed encouraging median overall survival results from HARMONi and HARMONi-2 trials at the World Conference on Lung Cancer, surpassing standard of care control arms.

Over 70,000 patients have received treatments in China, and 4,000 globally in clinical trials. Multiple Phase 3 programs are underway, with pivotal results anticipated in 2026 and 2027. The company maintains a pro forma cash reserve of $759.1 million. An InvestingPro tip indicates strong liquidity, with current assets outpacing obligations at a ratio of 6.96.

Analysts view SMMT shares as undervalued, trading near fair value with a market cap of $13.07 billion. Investors can explore SMMT’s Pro Research Report among 1,400+ detailed reports. Summit Therapeutics has attracted attention from analysts like Jefferies, which upgraded the stock to Buy, raising its price target to $25 based on H3 progression-free survival data expected in late 2026.

UBS also affirmed a Buy rating with a $33 target, emphasizing the upcoming HARMONi-3 trial results as a key catalyst. Cantor Fitzgerald maintained an Overweight rating, highlighting promising trial results from Summit's partner Akeso, where ivonescimab met its primary overall survival endpoint in first-line biliary tract cancer. These developments indicate increasing analyst confidence in Summit Therapeutics' future outlook.