Viking Therapeutics, Down 40%, Just Reached a New Milestone. Is the Stock a Buy Now?
Viking Therapeutics (NASDAQ: VKTX) is operating in one of the highest-growth pharma areas around. I'm talking about the weight loss drug market -- one that Morgan Stanley analysts say may multiply by 15 to surpass $100 billion later this decade.Viking doesn't sell weight loss drugs yet, but it could be on the way. The biotech is studying injectable and oral formulations of VK2735 in clinical trials, and results so far have been impressive.As for stock performance, Viking won there too in the early part of last year. The stock surged 121% in one trading session about a year ago, right after Viking announced positive results from a VK2735 trial. In recent times, though, the stock has given up gains -- and this year, Viking has shed about 40%.Continue reading
Viking Therapeutics (NASDAQ: VKTX) is operating in one of the highest-growth pharma areas around. I'm talking about the weight loss drug market -- one that Morgan Stanley analysts say may multiply by 15 to surpass $100 billion later this decade.
Viking doesn't sell weight loss drugs yet, but it could be on the way. The biotech is studying injectable and oral formulations of VK2735 in clinical trials, and results so far have been impressive.
As for stock performance, Viking won there too in the early part of last year. The stock surged 121% in one trading session about a year ago, right after Viking announced positive results from a VK2735 trial. In recent times, though, the stock has given up gains -- and this year, Viking has shed about 40%.
