Should You Buy Viking Therapeutics Stock After It Skyrocketed Over 60%?
What goes up can come down -- and then go back up. That's the story for Viking Therapeutics' (NASDAQ: VKTX) share price so far this year. The stock jumped nearly 26% year to date by early March. It subsequently gave up all of those gains and then some over the next few weeks.
But Viking announced results on Tuesday from a phase 1 clinical study evaluating its experimental weight-loss drug VK2735. The biotech stock skyrocketed over 60% on Tuesday on the positive news. Should you buy Viking Therapeutics stock after its huge rebound?
Viking reported that patients in the phase 1 study who received VK2735 lost as much as 7.8% of their body weight after 28 days. The placebo-adjusted mean weight loss for patients taking the drug was as high as 6%.
Source Fool.com
