Summit Therapeutics (SMMT, Financial) is set to release its highly anticipated survival data from the HARMONi-2 study, attracting significant attention from the biotech investment community. According to a research note from Truist, after consulting with a biostatistics expert, the firm has gained confidence that the study could exceed expectations and possibly achieve statistical significance.
This potential outcome is seen as a "home-run scenario" by market analysts, which could lead to a considerable increase in the value of Summit's shares. Truist has maintained a Buy rating on Summit Therapeutics, setting a price target of $35. Investors are closely monitoring these developments, as the results from this study could significantly impact Summit's market performance.