Key Takeaways:
- Summit Therapeutics Inc. (SMMT, Financial) stock surged by 21.5% after a successful phase 3 trial.
- Wall Street sees potential downside in stock value despite recent gains.
- Current analyst consensus rates Summit Therapeutics as "Outperform."
Summit Therapeutics Inc. (SMMT) witnessed a significant surge in its stock price, appreciating by 21.5% to close at $33.23. This uptick followed promising results from a phase 3 trial of its novel chemotherapy combination treatment for lung cancer. The trial demonstrated noteworthy advancements in patient progression-free survival, with no notable safety concerns.
Analyst Price Targets and Recommendations
Examining the one-year price targets from nine analysts, the average target price for Summit Therapeutics Inc (SMMT, Financial) stands at $31.00. The projections range from a high of $44.00 to a low of $5.00. This average target price suggests a potential downside of 6.71% from the current trading price of $33.23. For further detailed estimates, visit the Summit Therapeutics Inc (SMMT) Forecast page.
Per the consensus recommendation derived from 10 brokerage firms, Summit Therapeutics Inc's (SMMT, Financial) average brokerage recommendation is at 1.7, which translates to an "Outperform" rating. This rating scale runs from 1 to 5, where 1 signals a Strong Buy and 5 means Sell.
Valuation Insights from GuruFocus
According to GuruFocus estimates, the projected GF Value for Summit Therapeutics Inc (SMMT, Financial) in a year is pegged at $0.39. This points to a substantial potential downside of 98.83% from the current stock price of $33.23. The GF Value is GuruFocus' calculated fair value at which the stock is expected to trade. It is based on historical trading multiples, past business growth, and future performance estimates. For more comprehensive data, please check the Summit Therapeutics Inc (SMMT) Summary page.
