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We recently published a list of 10 Stocks Stand Strong Amid Cautious Market Environment. In this article, we are going to take a look at where Viking Therapeutics, Inc. (NASDAQ:VKTX) stands against stocks that stand strong amid cautious market environment.
The stock market showed resilience on Wednesday, with all major indices ending in the green territory anew, as investors weighed news of President Donald Trump’s imposition of a new round of tariffs while digesting minutes of the Federal Reserve.
The Dow Jones rose by 0.16 percent, the S&P 500 increased by 0.24 percent, while the tech-heavy Nasdaq eked out a 0.07 percent gain.
Despite the news, ten companies managed to stand out, posting modest gains during the trading session.
To come up with Wednesday’s top performers, we considered only the stocks with more than $1.9 billion in market capitalization and $5 million in daily trading volume.
Note that some stocks we have covered in-depth over the past few days have been excluded from this list.
A microbiologist in protective gear studying samples in a laboratory.
Viking Therapeutics, Inc. (NASDAQ:VKTX)
Viking Therapeutics, Inc. (NASDAQ:VKTX) surged by 10.36 percent on Wednesday to finish at $32.29 apiece despite the lack of clear catalysts to spark buying appetite.
The company, which released its 2024 earnings performance earlier this month registered a 44-percent higher net loss in the fourth quarter at $35.4 million, versus the $24.6 million in the same period a year earlier, primarily due to the increase in research and development expenses and general and administrative expenses, partially offset by an increase in interest income.
Net loss for full-year 2024 also widened by 28 percent to $109.96 million from $85.895 million in 2023.
Last week, VKTX earned lower price targets from two investment firms, with Maxim cutting its price target by 42 percent to $70 from $120, citing the company’s wider-than-expected loss per share in the fourth quarter of 2024.
Meanwhile, B. Riley also lowered its price target for VKTX to $96 from $109, representing an 11-percent cut, while keeping the “buy” rating on the shares.
Despite a disappointing earnings performance, B. Riley noted that it was especially impressed by the strong results from its potential weight loss asset VK2735, which could become a groundbreaking development in the field.
Overall, VKTX ranks 5th on our list of stocks that stand strong amid cautious market environment. While we acknowledge the potential of VKTX as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than VKTX but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.