Stock Price & Analysis

Based on the provided data and recent market activity, here's a concise analysis of SMMT stock:

Technical Analysis

The stock is showing significant volatility with a sharp decline today, down 14.47% to $18.92 during regular market hours. The stock has formed a bearish pattern with RSI at 55.62, indicating neutral momentum but trending downward.

Recent Developments

• Summit Therapeutics reported Q4 Non-GAAP EPS of -$0.07, beating expectations by $0.01
• Cash position remains strong at $412.3 million as of December 31, 2024
• FDA granted fast-track designation for ivonescimab in the HARMONi Phase III trial
• New collaboration with Pfizer announced to evaluate ivonescimab with Pfizer's ADCs across multiple solid tumor settings

Market Sentiment

• The stock has gained approximately 118% over the past 6 months
• Average analyst price target stands at $35.40, suggesting a 49% upside potential
• 21 hedge funds held positions in SMMT as of Q3 2024

Recommendation SELL - The current technical indicators and price action suggest a bearish trend in the near term. Despite positive fundamental developments, the stock appears overbought after its recent rally and today's sharp decline could signal the start of a correction phase.

Based on the provided data and recent market developments, here is the price prediction for SMMT stock in 2025:

SMMT is expected to reach $35.40 by end of 2025, representing a 87% upside from current price of $18.92. This target is supported by three key factors:

1. Strong pipeline progress: FDA fast-track designation for ivonescimab and completed enrollment for HARMONi Phase III trial are driving positive sentiment.

2. Solid financial position: Company maintains healthy cash reserves of approximately $410 million to fund ongoing clinical trials and operations.

3. Positive analyst outlook: H.C. Wainwright maintains a "Buy" rating with $44 price target, citing ivonescimab's favorable efficacy and safety profile compared to existing NSCLC treatments.

The S1 support level for SMMT Stock is $18.35 ,The R1 resistant level for SMMT Stock is $23.3.

As of the end of day on 2025-02-26, the price of SMMT Stock was $18.485.

The target price for SMMT Stock according to analyst rating is 34.25, with the highest price target at 44.00 and the lowest at 30.00. Analysts have a Strong Buy rating on SMMT Stock overall.

The market cap of SMMT is $13.5B.

Based on the provided data and recent market activity, I'll analyze if SMMT is overvalued.

Technical Analysis

The stock has shown significant volatility, rising from around $3 in early January 2025 to over $20 currently. Today's trading shows a sharp decline of -14.47% to $18.92, indicating potential profit-taking and valuation concerns.

Fundamental Analysis Summit Therapeutics is a pre-revenue biopharmaceutical company focusing on oncology treatments, particularly its lead candidate ivonescimab for non-small cell lung cancer. The company has:

• Cash reserves of approximately $410 million
• Net loss of $56.3 million in recent reporting
• Market capitalization of $17.3 billion

Valuation Assessment

The stock appears significantly overvalued based on:

1. Pre-revenue status with substantial market cap
2. Recent price surge of 118% over past 6 months
3. Current trading at 42x book value considering cash position
4. Negative earnings with continued cash burn
5. Speculative valuation primarily based on potential of single drug candidate

Conclusion SMMT is currently overvalued based on fundamentals, technical indicators showing overbought conditions, and speculative premium built into price.

Summit Therapeutics Inc. is a biopharmaceutical company focused on the discovery, development, and commercialization of patient, physician and caregiver medicinal therapies. The Company's development candidate is ivonescimab, a potential first-in-class bispecific antibody intending to combine the effects of immunotherapy via a blockade of PD-1 with the anti-angiogenesis effects of an anti-VEGF compound into a single molecule. It develops ivonescimab in non-small cell lung cancer (NSCLC), specifically launching Phase III clinical trials in the indications such as ivonescimab combined with chemotherapy in patients with epidermal growth factor receptor (EGFR)-mutated, locally advanced or metastatic non-squamous NSCLC who have progressed after treatment with a third-generation EGFR tyrosine kinase inhibitor (HARMONi), and ivonescimab combined with chemotherapy in first-line metastatic squamous NSCLC patients (HARMONi-3). Its ivonescimab is engineered with Akeso's Tetrabody technology.

Based on the provided data and market research, here is the 2030 price prediction for SMMT stock:

Summit Therapeutics (SMMT) is projected to reach $35-40 by 2030, driven by the successful commercialization of ivonescimab in lung cancer treatment following positive Phase III HARMONi trial results. The company's strong cash position of $412.3 million and strategic partnerships with major pharmaceutical companies like Pfizer support this growth trajectory.

The stock's significant upside potential is further supported by analysts' bullish outlook, with H.C. Wainwright setting a near-term price target of $44, suggesting the company's innovative bispecific antibody platform could capture substantial market share in the growing oncology space.

SMMT has a total of 105 employees.