Cantor Fitzgerald Maintains Overweight Rating on Summit Therapeutics (SMMT) Amid Mixed Clinical Developments Summit Therapeutics Inc. (NASDAQ:SMMT) ranks among the best short squeeze stocks to invest in.
On May 22, Cantor Fitzgerald restated its Overweight rating for Summit Therapeutics Inc. (NASDAQ:SMMT)
The firm addressed concerns about the HARMONi-3 trial, which is evaluating ivonescimab in first-line squamous non-small cell lung cancer. The trial failed to meet an interim progression-free survival threshold, increasing investor doubts regarding its efficacy in comparison to data from HARMONi-6, a China-exclusive trial. Cantor Fitzgerald reported that medical professionals were less deterred by the interim progression-free survival shortfall.
The expert opinion was influenced by the firm’s low alpha spend and the fact that the analysis was performed very early. Meanwhile, H.C. Wainwright downgraded Summit Therapeutics Inc. (NASDAQ:SMMT) to Neutral from Buy, noting competition from Merck’s sacituzumab tirumotecan results.