Analyst Initiates Coverage On 'Undervalued' Summit Therapeutics
1. Cantor Fitzgerald initiated coverage on SMMT, citing shares as 67% undervalued. 2. Ivonescimab shows potential as a first-in-class bispecific antibody. 3. The drug could secure a 50% share in the $100 billion VEGF x PD-(L)1s market. 4. Promising trial results may enhance investor confidence in multiple Phase 3 trials. 5. Stock price increased 3.44% after the coverage initiation.