When a stock gets red hot, its share price can sometimes soar to unsustainable levels as euphoria ends up taking over. One of the hottest stocks to own this year has undoubtedly been Summit Therapeutics (NASDAQ: SMMT), and it could very well fall into that category.

Even though the promising biotech doesn't have an approved product in its portfolio and is generating no revenue, the excitement around one of its oncology treatments has investors incredibly bullish.

With the stock recently retreating significantly from its high, is that a sign that it might have finally peaked, or could this make for a good buying opportunity?

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Source Fool.com