#7 - Viking Therapeutics (NASDAQ:VKTX)
No list of healthcare stocks to buy would be complete without including at least one company that is part of the growing GLP-1 movement. However, if you’re looking for good value, you may not find it with the two leading companies. Investors are paying a premium to buy shares of Eli Lilly & Co. (NYSE: LLY) and Novo Nordisk A/S (NYSE: NVO).
That’s why you may want to consider Viking Therapeutics Inc. (NASDAQ: VKTX). The pre-revenue company’s stock is up more than 243% in 2024 as investors anticipate clinical approval of its VK2735 obesity drug. The company is developing an injectable and oral version of VK2735, both of which are in Phase 2 trials.
However, while VK2735 may garner the most headlines, it’s only one part of the company’s deep pipeline that includes potential treatments for non-alcoholic steatohepatitis (NASH), hip fracture recovery, and type-2 diabetes (T2D).
That's why, despite the strong growth in VKTX stock in 2024, analysts still give the stock a consensus price target of $108.60, which suggests there could be a 73% upside for risk-tolerant investors.
About Viking Therapeutics
Viking Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on the development of novel therapies for metabolic and endocrine disorders. The company's lead drug candidate is VK2809, an orally available tissue and receptor-subtype selective agonist of the thyroid hormone receptor beta (TRß), which is in Phase IIb clinical trials to treat patients with biopsy-confirmed non-alcoholic steatohepatitis, as well as NAFLD.
Read More - Current Price
- $62.85
- Consensus Rating
- Buy
- Ratings Breakdown
- 11 Buy Ratings, 0 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $108.60 (72.8% Upside)
As this presentation shows, you won't lack for choices if you're looking to invest in healthcare stocks. From research and development to medical procedures, to health insurance and rehabilitation services, there are quality names for you to consider.
But what if none of these companies is attractive to you? MarketBeat keeps an updated list of the top 50 Medical Stocks by market capitalization. This means you're looking at rock-solid, blue-chip stocks, many of which pay attractive dividends. Investing in these stocks keeps you away from small-cap or mid-cap stocks that offer more reward but also provide more risk.
However, if you're looking for more speculative healthcare stocks, the MarketBeat stock screener can help you find what you're looking for. You can sort medical stocks by market cap, projected earnings growth, dividend yield, current and forward P/E ratios, and so much more. And when you find a stock you like, you can add it to your watchlist on My MarketBeat so you'll never miss an update.
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