Viking Therapeutics: Riding the Weight-Loss Drug Wave
Valued at a hefty $7.5 billion, Viking Therapeutics (VKTX) has been on a rocket ride, soaring nearly 700% in the last year. Fueling this explosive growth is the anticipation surrounding the company’s experimental weight-loss drug, currently in clinical trials.
This high-stakes gamble is characterized by the fact that Viking Therapeutics, a company yet to record revenue, is banking on the success of this pivotal drug. Early indications from the Phase 2 trial of VK2735 show remarkable results, with patients shedding approximately 15% of their body weight over a 13-week treatment period.
Despite Viking Therapeutics’ remarkable ascent, VKTX stock trades at a considerable discount compared to analysts’ target prices. An outstanding nine out of ten analysts advocate for a “strong buy,” suggesting potential returns of over 52% from the current price.
Cipher Mining: Bitcoin Bonanza
For Cipher Mining (CIFR), a player in the bitcoin mining sector, the past year has delivered a windfall with its stock doubling in value on the back of surging BTC prices. Inextricably linked to the fortunes of the leading cryptocurrency, Cipher Mining mirrors the trajectory of Bitcoin (BTCUSD).
With an impressive market capitalization of $1.37 billion, Cipher Mining notched up adjusted earnings of $27.8 million and revenues of $126.8 million in 2023. Bolstered by a hash rate increase to 7.4 EH/s in Q1 2024, the company is on pace to close the year at 9.3 EH/s.
This success story has garnered rave reviews from analysts, with five out of seven advocating a “strong buy” recommendation. The stock, currently priced above the average target of $5, has room to grow further, potentially climbing 13.4% to reach the Street’s peak target of $6.00.
Zscaler: Seizing the Cybersecurity Cusp
Don’t miss Zscaler (ZS), a stalwart in cloud-based cybersecurity valued at an impressive $29 billion. While several tech equities scale new summits, Zscaler’s stock has declined more than 48%, presenting a compelling buying opportunity.
In its fiscal Q2 of 2024, Zscaler showcased robust growth, boasting a customer base of 7,700, which includes 40% of America’s Fortune 500 companies. Notably, the company witnessed a 21% surge in customers spending a minimum of $100,000 annually on its platform, with a 31% uptick in customers shelling out over $1 million.
The financials are equally compelling, with revenue in fiscal Q2 hitting $525 million, marking a 35% annual increase, while trimming net losses by a healthy 50% to $28.5 million.
Zscaler finds favor with Wall Street analysts, with a whopping 27 out of 36 advocating a “strong buy” recommendation. Positioned at an average target price of $255.06, the stock indicates a potential surge of around 31.5% from current levels.
As of the date of publication, Aditya Raghunath has no positions related to the securities discussed. The content serves purely informative purposes. Refer to the Barchart Disclosure Policy for detailed information.
The expressed views are of the author and may not align with those of Nasdaq, Inc.
