10 Oversold Biotech Stocks to Buy Now

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

Relative Strength Index (RSI): 39.45

Viking Therapeutics, Inc. (NASDAQ:VKTX) is a biotechnology company that is committed to the development of treatments for patients suffering from metabolic and endocrine disorders.

Viking Therapeutics, Inc. (NASDAQ:VKTX) is an oversold biotech stock with strong financials and promising clinical advancements which makes it an appealing investment opportunity.

Viking Therapeutics, Inc. (NASDAQ:VKTX) reported strong progress in its Q4 and full-year 2024 financial results, highlighting a solid financial position and advancements in its clinical pipeline. The company ended 2024 with $903 million in cash, a significant increase from $362 million in 2023. Despite higher expenses, including a net loss of $35.4 million in Q4 and a full-year loss of $110.0 million, the corporation is investing heavily in its clinical programs, particularly for VK2735, an obesity treatment.

Viking Therapeutics, Inc. (NASDAQ:VKTX)’s clinical pipeline has shown strong results: VK2735, a dual agonist for obesity, demonstrated up to 14.7% weight loss in Phase 2 trials, and the company plans to begin Phase 3 studies in 2025. Additionally, VK2809 for NASH and VK0214 for X-ALD showed positive Phase 2 results. Viking also completed a successful End-of-Phase 2 FDA meeting for VK2735, further advancing its programs.