A low share price does not necessarily mean that a stock is attractively valued. For example, you wouldn’t invest in a company that markets oceanfront property in Arizona, no matter how low its stock price was. However, prices per share it can matter to investors who don’t have a lot of money to put to work.

If you’re in that group, you’re in luck. Three Fool.com contributors have identified what they consider magnificent stocks trading below $100 to buy in November. Here’s why they chose AstraZeneca (AZN 0.38%), Exelixis (EXEL 2.77%)and Summit Therapeutics (SMMT 2.15%).

A beast of growth at a low valuation

David Jagielski (AstraZeneca): One of the most magnificent stocks health investors long-term buy is UK-based AstraZeneca, which is trading at around $76 right now. The company has a solid business that generates revenue from many different therapeutic areas, and the business is always innovating and finding ways to grow.

In the first half of the year, the company reported sales of $25.6 billion, up 18% year-over-year (at constant exchange rates), while earnings per share increased by 23% when currency is taken into account. The company experienced double-digit growth in several areas of its business, including oncology, cardiovascular, rare disease and respiratory segments.

AstraZeneca estimates that by the end of the decade it will generate about $80 billion in annual revenue. That’s a big jump from the $45.8 billion it brought in last year. And it plans to achieve that growth while maintaining strong core operating margins of around 30%.

AstraZeneca shares look quite cheap given the stock’s ambitious growth opportunities. Currently, investors can buy the shares with it the price-earnings-growth ratio being below 1, indicating that it is a good value investment when considering analyst growth expectations for the business over the next five years.

A David among Goliaths

Prosper Junior Bakiny (Exelixis): If you have $100 to invest, Exelixis is one of the best biotech stocks to put your money into — and that amount can almost get you three shares of the company.

It’s not the biggest or most famous drug maker around. With a market cap of $9.25 billion, Exelixis is not yet in large-cap territory. However, it has managed to carve out a niche for itself in the highly competitive oncology market, which is largely dominated by the world’s largest pharmaceutical companies.

Exelixis’ Cabometyx is a medicine that treats a certain form of liver and kidney cancer. The drug continues to develop new indications — currently awaiting one in advanced pancreatic neuroendocrine tumor — while remaining the most prescribed treatment of its kind in renal cell carcinoma (a type of kidney cancer).

Cabometyx continues to generate higher revenue for Exelixis. In the third quarter, the company’s sales rose 14.3% year over year, a strong performance for a biotech company.

Furthermore, Exelixis recently rejected a legal challenge from private drugmaker MSN Laboratories, whose generic version of Cabometyx will not be allowed to be sold in the US until early 2030. The market was rightly concerned that if the decision take the other one. In some ways, a generic version of Cabometyx would have substantially hurt Exelixis’ revenue. This win did a lot for Exelixis more attractive stock.

Exelixis is also developing newer drugs, including zanzalintinib, a potential cancer drug being tested in several Phase 3 trials. Zanzalintinib could win approval in the next two years.

Meanwhile, Cabometyx should continue to be a star performer for Exelixis. So with strong financials, an exciting pipeline and potential catalysts on the way, Exelixis looks like a solid stock to buy this month, with a single share trading hands at less than $34.

An excellent choice for aggressive investors

Keith Speights (Summit Therapeutics): Unlike AstraZeneca and Exelixis, Summit Therapeutics has no products on the market yet. Clinical stage biotech stocks are not suitable for some investors, especially if you are risk averse or looking for income. However, I think Summit is an excellent choice right now for aggressive investors.

At first glance, you might be skeptical about this stock. Summit market capitalization it amounts to almost 13.5 billion dollars. That’s steep for a company that didn’t generate any revenue in 2024. But the story could change for Summit in the not-too-distant future.

Summit expects to report top results in mid-2025 from a late-stage clinical trial evaluating ivonescimab as a second-line treatment of advanced non-small cell lung cancer (NSCLC). It is also conducting a Phase 3 trial of the drug as a first-line treatment of NSCLC, with plans to advance it to another Phase 3 trial early next year.

While there is no guarantee that these clinical trials will be successful, investors have good reason to be optimistic. Earlier this year, a late-stage trial in China evaluating ivonescimab as a first-line treatment for NSCLC found that it reduced the risk of disease progression or death by 49%. That beat MerckKeytruda’s cancer immunotherapy. To put that into context, Keytruda generated $25 billion in sales last year, making it the world’s best-selling drug.

With Summit Therapeutics shares trading at around $18, you can get five shares for $100. Wall Street believes the stock could rise more than 50% over the next 12 months. If Summit reports positive results for ivonescimab next year, I suspect this sizeable gain is achievable.

Again, Summit Therapeutics is not for every investor. But for some, it could really be a magnificent stock to buy.