Why Summit Therapeutics Stock Was Winning This Week
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Summit Therapeutics' stock saw a nearly 8% increase this week, driven by bullish coverage from Evercore ISI analyst Cory Kasimov, who initiated an outperform rating with a $30 price target, indicating over 56% upside potential. Investors are optimistic about the company's leading cancer treatment, ivonescimab, which has shown strong clinical trial results compared to Merck's Keytruda. Kasimov believes ivonescimab could be more effective than anticipated, making Summit a compelling investment in the biotech sector's oncology market.
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