10 Best Healthcare Stocks to Buy Under $50

2. Viking Therapeutics, Inc. (NASDAQ:VKTX)

Number of Hedge Fund Holders: 52

Share Price: $47.80

Next up is Viking Therapeutics, Inc. (NASDAQ:VKTX), a biopharmaceutical company that develops therapeutics for patients with endocrine and metabolic disorders. The company’s share price has risen 146% over the last 52 months, but remains under $50, making it one of the best healthcare stocks to buy under $50. The share price has spiked especially since February this year after the company announced positive results from its Phase 2 clinical trial of VK2735, a weight-loss medication.

Wasatch Micro Cap Growth—U.S. Strategy highlighted Viking Therapeutics, Inc. (NASDAQ:VKTX), in the first quarter 2024 investor letter in the following words:

Viking Therapeutics, Inc. (NASDAQ:VKTX) also contributed during the quarter. A clinical-stage biopharmaceutical company, Viking develops therapies for metabolic and endocrine disorders. Shares of the company soared in February after its injectable weight-loss drug demonstrated best-in-class efficacy in a mid-stage clinical trial. A separate, early-stage trial testing the safety and tolerability of an orally administered version of the drug also yielded positive data. A successful oral treatment would be a game changer in a multibillion-dollar industry. We believe these results make Viking a potentially attractive target for acquisition by a larger organization.

During the first quarter of 2024, the company reported a net loss of $27.4 million, which equated to a loss per share of $0.26, which marginally beat analysts’ expectations of a loss of $0.27 per share. According to Viking Therapeutics, Inc. (NASDAQ:VKTX), the negative returns occurred primarily because of an increase in the research and development costs during the quarter.