On Wednesday, Viking Therapeutics made a significant impact on the stock market, with its shares surging by over 11%. Interestingly, this rise wasn’t due to any internal announcement from the biotech firm but was spurred by the initiation of coverage by an analyst. This impressive performance significantly outpaced the S&P 500 index, which saw a modest increase of just over 1% that day.
Contents
- 1 Analyst Foresees 32% Upside Potential
- 2 A Promising Market Ahead
- 3 Seize This Opportunity for Potential Gains
- 4 – Nvidia: A $1,000 investment when we doubled down in 2009 would now be worth $280,262!*
- 5 – Apple: A $1,000 investment when we doubled down in 2008 would now be worth $41,639!*
- 6 – Netflix: A $1,000 investment when we doubled down in 2004 would now be worth $363,277!*
Analyst Foresees 32% Upside Potential
Before the market opened, Hardik Parikh from J.P. Morgan began his coverage of Viking Therapeutics. Demonstrating a strong confidence in the company’s prospects, Parikh rated the stock as overweight (essentially, a buy recommendation) with a price target set at $80 per share. Despite the stock’s rally on Wednesday, this target indicates a potential upside of nearly 32% from its current value.
Parikh, like many investors and analysts, anticipates a significant advantage for Viking Therapeutics if it successfully launches its investigational GLP-1 obesity treatment, VK2735. In the U.S., obesity treatments are in high demand due to the prevalent issue of overweight populations. VK2735 offers a notable benefit over other FDA-approved obesity medications, as it can be taken orally, unlike Novo Nordisk’s Wegovy and Eli Lilly’s Zepbound, which require injection.
A Promising Market Ahead
In his report, Parikh expressed optimism about the future of the weight loss drug market. He stated, “We continue to believe the market for GLP-1s will be substantial, with U.S. market sales projected to reach around $120 billion by 2030, and oral medications will increasingly play a pivotal role.”
Seize This Opportunity for Potential Gains
Have you ever felt like you missed out on the opportunity to invest in thriving stocks? Here’s your chance to change that.
Occasionally, our seasoned team of analysts issues a “Double Down” stock recommendation for companies they believe are on the brink of a breakthrough. If you’re concerned that the opportunity has passed, now is the perfect moment to invest before it’s too late. Just consider these past successes:
– Nvidia: A $1,000 investment when we doubled down in 2009 would now be worth $280,262!*
– Apple: A $1,000 investment when we doubled down in 2008 would now be worth $41,639!*
– Netflix: A $1,000 investment when we doubled down in 2004 would now be worth $363,277!*
Currently, we are issuing “Double Down” alerts for three exceptional companies, and opportunities like this may not come around often.
*Stock Advisor returns as of 09/11/2024
