Is Viking Therapeutics a Buy Right Now?
Viking Therapeutics (NASDAQ: VKTX) soared into the spotlight about a year ago when it delivered promising data on a drug candidate that aims to compete in an area of very high demand: weight loss. The stock surged more than 120% in one trading session after Viking spoke about VK2735, a candidate that works in the same way as big pharma Eli Lilly's blockbuster drugs Mounjaro and Zepbound.
Since, Viking's clinical data remain strong, and the company aims to launch a phase 3 trial for the injectable version of VK2735 in the second quarter. It's also advanced an oral version, starting a phase 2 trial late last year. In spite of the progress, the stock has given up a great deal of its gains -- falling 65% from its 2024 peak.
Last week, though, Viking shares popped in one trading session, climbing as much as 15%, on reports that Pfizer is considering the company for a potential takeover. Though the reports are unconfirmed, investors have in the past noted that Viking could make an attractive target for a bigger player aiming to get in on the high-growth weight loss drug market. Considering this and Viking's clinical trial advancements, is the stock a buy right now?
Source Fool.com
