10 Hot Growth Stocks to Invest in According to Analysts

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1. Summit Therapeutics Inc. (NASDAQ:SMMT)

% Gain Over 6-Month Period: ~54.7%

Average Upside Potential: ~84.3%

Number of Hedge Fund Holders: 25

Summit Therapeutics Inc. (NASDAQ:SMMT) is a biopharmaceutical company, which is focused on the discovery, development, and commercialization of patient, physician, caregiver, and societal friendly medicinal therapies. Goldman Sachs analyst Salveen Richter initiated coverage of the company’s stock with a “Buy” rating and a price objective of $42. As per the analyst, Summit Therapeutics Inc. (NASDAQ:SMMT)’s lead bispecific antibody asset ivonescimab, in-licensed from Chinese biotech Akeso, demonstrated strong efficacy in recent Phase 3 head-to-head data in comparison to standard-of-care Keytruda in first-line advanced non-small cell lung cancer in China.

Also, Akeso, Inc. announced that its partner on ivonescimab, Summit Therapeutics Inc. (NASDAQ:SMMT) entered into a clinical trial collaboration with Pfizer Inc. in a bid to evaluate ivonescimab, which is a novel, investigational PD-1 / VEGF bispecific antibody, in combination with several of Pfizer’s antibody drug conjugates (ADCs) throughout multiple solid tumor settings. With Summit Therapeutics Inc. (NASDAQ:SMMT) seeking to ramp up the development of its potentially transformative ivonescimab throughout non-small cell lung cancer and other solid tumor settings, the collaboration is expected to enable Summit Therapeutics Inc. (NASDAQ:SMMT) to quickly advance beyond its promising late-stage development plan to evaluate ivonescimab in combination with some of the most innovative ADCs from Pfizer.

While we acknowledge the potential of SMMT as an investment, our conviction lies in the belief that some deeply undervalued AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. If you are looking for a deeply undervalued AI stock that is more promising than SMMT but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

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