Viking Therapeutics (VKTX) Rises on Expected Developments

We recently published a list of Investors Are Gobbling Up Shares of These 10 Firms. In this article, we are going to take a look at where Viking Therapeutics, Inc. (NASDAQ:VKTX) stands against other top-performing companies on Tuesday.

Viking Therapeutics grew its share prices by 5.69 percent on Tuesday to finish at $29.14 apiece as investors loaded up positions while waiting for fresh catalysts from the series of global conferences that it is participating in this month.

At present, investors are expecting updates and developments from the three-day 46th Annual Goldman Sachs Global Healthcare Conference in Florida on June 9 to 11.

It is also set to participate in a one-on-one meeting at the Scotiabank Third Annual Healthcare Canadian Investor Day on June 17.

In April this year, Viking Therapeutics, Inc. (NASDAQ:VKTX) soared following news that its competitor, Pfizer Inc., discontinued the development of its oral obesity medication, danuglipron, amid safety concerns.

According to PFE, the decision came after a patient experienced a potential liver injury linked to the drug.

Viking Therapeutics (VKTX) Rises on Expected Developments

A microbiologist in protective gear studying samples in a laboratory.

The scrapped plans, however, spelled good news for Viking Therapeutics, Inc. (NASDAQ:VKTX), which is similarly underway with the development of an oral weight loss candidate called VK2735, with Pfizer Inc. now out of the competition.

Overall, VKTX ranks 8th on our list of top-performing companies on Tuesday. While we acknowledge the potential of VKTX as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

Disclosure: None. This article is originally published at Insider Monkey.