Biotech Stocks Dominate Monday’s Top 10 Gainers

3. Summit Therapeutics Inc. (NASDAQ:SMMT)

Summit Therapeutics extended its winning streak for the fourth consecutive day on Monday, adding 12.44 percent to end at $26.13 each as the company continued to ride the wave in medical stocks on optimism of lesser risks from the ongoing global trade tensions.

In recent news, Cantor Fitzgerald maintained its Overweight rating on SMMT following a move by the company’s co-CEO and chairman Bob Duggan to exercise warrants to acquire 4 million SMMT shares.

The transaction was executed nearly four years before the warrants expired at a strike price of $1.58 apiece.

Meanwhile, Truist Securities also gave the company a Buy rating and a price target of $35, representing a 50.6-percent upside from SMMT’s latest closing price.

SMMT is a biopharmaceutical oncology company focused on the discovery, development, and commercialization of medicinal therapies.