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Summit Therapeutics (NASDAQ:SMMT) is one of the best stocks to buy in a rising market, according to Wall Street analysts. On April 21, analysts at Stifel reiterated a Buy rating on Summit Therapeutics (NASDAQ:SMMT) and a $45 price target.

The positive stance comes on the heels of Akeso announcing plans to disclose HARMONi-6 interim Overall Survival readout at ASCO 2026. The disclosure is to optimize the setup better than when HARMONi-2 interim OS was disclosed last year as a result of an NMPA approval.

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Unlike Harmoni 2, Harmoni-6 features 33% larger sample size and all-squamous histology. The study provides a first look at an emerging OS from an ivonescimab Phase 3 trial randomized against anti-PD-1 tislelizumab. Last year, HARMONi-2 analyzed ivonescimab against monotherapy pembrolizumab in patients with locally advanced or metastatic non-small cell lung cancer (NSCLC).

Akeso is seeking label expansion for Ivonescimab in China, following an interim analysis requested by Chinese health authorities that showed a clinically meaningful positive trend favoring Ivonescimab over Pembrolizumab in PD-L1.

Summit Therapeutics (NASDAQ:SMMT) is a clinical-stage biopharmaceutical company focused on developing novel oncology therapies to treat serious, unmet medical needs. Their primary focus is the development and commercialization of ivonescimab, a potential first-in-class bispecific antibody targeting PD-1 and VEGF for the treatment of non-small cell lung cancer (NSCLC).

While we acknowledge the potential of SMMT as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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