Buying a soaring growth stock can be both exciting and risky territory for investors. In the biotech world, all it often takes is news of an approval from the Food and Drug Administration (FDA) or even just promising results from a clinical study that can send a stock skyrocketing.

One of the hottest biotech stocks over the past 12 months has been Viking Therapeutics (NASDAQ: VKTX). It's up a staggering 885% during that stretch. Can its shares still go higher?

Viking Therapeutics doesn't have any approved products that generate revenue for the business today. But that hasn't been stopping investors from jumping on the bandwagon, behind a couple of potential blockbuster drugs that could generate billions of dollars for the company in the long run.

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Source Fool.com