Down 34%, Should You Buy the Dip on Viking Therapeutics?

Viking Therapeutics (NASDAQ: VKTX) has intrigued investors over the past year and a half because it's involved in a potential David and Goliath story. Today, pharma giants Eli Lilly and Novo Nordisk dominate the weight loss drug market, and other big pharmas such as Pfizer are working to get in on this valuable space. Facing these market powerhouses, Viking, a biotech worth about $3 billion, has set its sights on becoming a player of importance.Early last year, Viking announced results from a phase 2 trial of its injectable weight loss drug candidate and saw its stock surge more than 120% in one trading session. Results were strong, and investors even speculated that a pharma powerhouse, such as Pfizer. may want to acquire or partner with this young company. So far that hasn't happened, but Viking has continued to advance its candidate in injectable and oral formats.Though Viking's weight loss program has progressed, the stock price hasn't maintained its positive momentum. In fact, the shares have dropped 34% since the company's latest data report -- in August -- disappointed investors. After that move, is Viking Therapeutics a buy on the dip?Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool