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2 Soaring Stocks Wth More Upside Potential
Although fundamental investing wisdom tells us to "buy low," it may still be worthwhile to purchase shares of top companies following significant runs. Any point can be considered low -- even after massive gains -- provided there is plenty of upside left. That brings us to Summit Therapeutics (NASDAQ: SMMT) and Axsome Therapeutics (NASDAQ: AXSM), two biotechs that have been on fire over the past few years. Still, it's not too late to invest in these drugmakers. Here's the rundown.Summit Therapeutics' shares are up more than 1,000% over the past three years. The company owes that performance to its progress with ivonescimab, an investigational cancer medicine it is developing. Summit Therapeutics licensed ivonescimab from Akeso Biopharma. The medicine has produced positive results in several phase 2 and phase 3 studies in China, where it is already approved. That's why Summit Therapeutics, which owns the rights to ivonescimab in most regions outside of China, has a market cap of $13.6 billion despite not generating any revenue.Image source: Getty Images.Continue reading
Although fundamental investing wisdom tells us to "buy low," it may still be worthwhile to purchase shares of top companies following significant runs. Any point can be considered low -- even after massive gains -- provided there is plenty of upside left. That brings us to Summit Therapeutics (NASDAQ: SMMT) and Axsome Therapeutics (NASDAQ: AXSM), two biotechs that have been on fire over the past few years. Still, it's not too late to invest in these drugmakers. Here's the rundown.
Summit Therapeutics' shares are up more than 1,000% over the past three years. The company owes that performance to its progress with ivonescimab, an investigational cancer medicine it is developing. Summit Therapeutics licensed ivonescimab from Akeso Biopharma. The medicine has produced positive results in several phase 2 and phase 3 studies in China, where it is already approved. That's why Summit Therapeutics, which owns the rights to ivonescimab in most regions outside of China, has a market cap of $13.6 billion despite not generating any revenue.
Image source: Getty Images.
