Is Viking Therapeutics Stock a No-Brainer Buy Below $35?
The drugmaker is looking to challenge the leaders in the weight loss market.
Is Viking Therapeutics Stock a No-Brainer Buy Below $35?
Overview
Shares of Viking Therapeutics (NASDAQ: VKTX), a clinical-stage biotech, have moved in exactly the wrong direction this year, down 8% to date. However, the drugmaker has important catalysts on the horizon that could make the stock a bargain at its current price of $32 per share. Should investors initiate positions today?
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Viking Therapeutics is developing medicines for chronic weight management. The company's leading candidate, subcutaneous VK2735, is currently in phase 3 studies. We should see data from these trials next year. On the one hand, subcutaneous VK2735 posted strong phase 2 results, and if it can repeat that performance in its ongoing clinical trials, Viking Therapeutics' shares will soar.
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Originally published at www.fool.com.
