Trading Near Its 52-Week Low, Is Summit Therapeutics a Good Stock to Buy Right Now?

Did you know that Summit Therapeutics (NASDAQ: SMMT) is one of the few publicly traded companies that has a market cap of more than $10 billion, but no revenue? With that kind of a valuation and nothing to fall back on, it grabs your attention. After all, there surely must be something extraordinary about the business for investors to be willing to pay such a significant premium for it.In fact, Summit's stock has been falling of late, which means that its valuation was even higher earlier this year. At one point, its market cap was north of $27 billion.The healthcare company does have a promising asset in its portfolio, ivonescimab, but it isn't approved yet. Investors are clearly bullish on the company's potential to be a big player in healthcare down the road. And if they're right, the stock could potentially double or triple in value.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool