Is Shockwave Medical a Buy?
Last year saw a number of initial public offerings (IPO) catch the public's attention, although many of them have underperformed since going public. While major tech unicorns were catching most of the media spotlight, there were a few biotech stocks making big waves as well. One of them was Shockwave Medical (NASDAQ: SWAV), a medical device maker for doctors treating patients with artery disease.
While shares of the company have more than doubled over a two-month period after going public in March, the stock has since given back most of its gains. While Shockwave's revenue growth has been impressive, some investors wonder whether the company's $1.3 billion valuation is a bit excessive. Let's take a look at this promising biotech stock and whether it's worth a spot in your portfolio.
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Source Fool.com
