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Markets · Investing · Business
Finance
Should You Buy Viking Therapeutics Stock While It Trades Below Its $35 Offering Price?
The weight loss drug company continues to make progress, but its share price is bouncing around with events.
Viking Therapeutics(NASDAQ: VKTX) stock soared after the release of excellent top-line results from a maintenance study of its weight-loss drug VK2735, and the company promptly moved to ultimately raise $575 million via a supplementary public offering of common stock ($316.2 million worth at $35) and $258.8 million in convertible senior notes. However, the stock now trades below the $35 price of this latest common equity offering. Is it worth buying?
On balance, the answer is: If you were bullish on the stock before the top-line results came out, it makes sense to buy it now, too.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.
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