Newbie doubt

I was looking at Piramal Pharma recently and the company has a PE of 650 which is far more than its peers. Apart from this the company seems decent fundamentally and their growth is good over the last year. So should I avoid this stock just because of its PE. Also a high PE means that the stock is overvalued. Why would a share be valued 600x of its earnings tho? Won't the share price correct it over the course of time? Pls bare with my doubts if they seems silly as I'm only a beginner and I'm not even trying to trade or invest, just learning.