Viking Therapeutics Just Soared 120% on Optimism About Its Weight Loss Candidate. Too Late to Buy?
The weight loss drug market is growing in leaps and bounds -- and today the biggest winners are Eli Lilly and Novo Nordisk. These big pharma companies are bringing in billions thanks to their drugs that are helping those suffering from obesity shed pounds fast. But soon a new kid may be on the block. I'm talking about Viking Therapeutics (NASDAQ: VKTX), a biotech company that just released positive data from a phase 2 trial of its weight loss candidate.
Viking's shares soared a mind-boggling 120% in one trading session on the news, surging past even analysts' highest 12-month share price forecasts. This is as investors bet on this company eventually entering the market with a highly efficacious product -- or attracting a buyer. But after such a rapid gain, is it now too late to get in on this stock? Let's find out.
Image source: Getty Images.
Source Fool.com
