Is Vktx good stock to buy

Viking Therapeutics (VKTX) is not currently a good stock to buy. Here's why:

1. Financial Performance: Viking Therapeutics reported a net loss of $24.9 million for the third quarter, which is wider than the loss of $22.5 million in the same period last year. This indicates that the company is not yet profitable and is losing money at a higher rate.
2. Revenue and Growth: The company did not generate any revenue during the reporting period. This is a significant concern as revenue is necessary for the sustainability of any business. The revenue growth rate is negative at -10.68%, which suggests that the company is not only not growing but is also experiencing a decline in sales.

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VKTX Net Income YoY, Net Income

3. Technical Indicators: The stock's technical indicators are mixed. The RSI is high at 73.18, which could suggest that the stock is overbought. However, the MACD is positive at 1.83, and the stock is currently trading above its 5-Day, 10-Day, and 20-Day moving averages, which could indicate short-term upward momentum.

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VKTX Trend

4. Analyst Ratings: There are 13 Buy ratings on the stock, which is a significant number. However, the consensus rating is "Moderate Buy" with a price target of $108.60, which is below the current trading price. This suggests that while there is some positive sentiment, it may not be strong enough to justify a high purchase price.

VKTX Average Price Target

5. Recent News and Events: Viking Therapeutics' stock price surged by 21.3% on October 24, 2024, following the release of third-quarter results that exceeded analyst expectations and an update on its cash position. However, these gains may already be priced in, and the company's continued profitability and revenue generation remain uncertain.
6. Strategic Position: Viking Therapeutics is positioning itself for a transformative period with a bolstered balance sheet and strategic focus on advancing key assets. However, the company is still in a clinical-stage and has not yet achieved regulatory approval for any products, which adds to the uncertainty.

In conclusion, while there are some positive indicators for Viking Therapeutics, such as the recent surge in stock price and the company's strategic positioning, the lack of revenue, negative net income, and uncertain growth prospects make it a risky investment at this time. Investors should exercise caution and consider the potential for significant losses due to the company's current financial and market position.