This GLP-1 Stock Could Double by 2030. Here's Why
Investors need to ask tough questions before initiating a position in this biotech company.
Overview
Over the past five years, Viking Therapeutics' (NASDAQ: VKTX) shares have climbed more than 500% as the company has made significant progress with its leading pipeline candidates. The clinical-stage biotech is looking to establish itself in the fast-growing GLP-1 drug market. If it can make headway toward that goal through the end of the decade, Viking Therapeutics might once again deliver market-beating returns. Here is why the stock could double by 2030.
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Demand for GLP-1 products is soaring. Thanks to breakthroughs in the field and a large addressable opportunity in niches such as diabetes and weight management, the market for GLP-1 drugs could reach $190 billion by 2035, according to some estimates. For context, it was worth about $79 billion last year. While Eli Lilly (NYSE: LLY) and Novo Nordisk (NYSE: NVO) currently dominate this area, a first-mover advantage isn't everything. There is room for more differentiated GLP-1 medicines.
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Originally published at www.fool.com.