10 Stocks Stand Strong Amid Cautious Market Environment

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

Viking Therapeutics, Inc. (NASDAQ:VKTX) surged by 10.36 percent on Wednesday to finish at $32.29 apiece despite the lack of clear catalysts to spark buying appetite.

The company, which released its 2024 earnings performance earlier this month registered a 44-percent higher net loss in the fourth quarter at $35.4 million, versus the $24.6 million in the same period a year earlier, primarily due to the increase in research and development expenses and general and administrative expenses, partially offset by an increase in interest income.

Net loss for full-year 2024 also widened by 28 percent to $109.96 million from $85.895 million in 2023.

Last week, VKTX earned lower price targets from two investment firms, with Maxim cutting its price target by 42 percent to $70 from $120, citing the company’s wider-than-expected loss per share in the fourth quarter of 2024.

Meanwhile, B. Riley also lowered its price target for VKTX to $96 from $109, representing an 11-percent cut, while keeping the “buy” rating on the shares.

Despite a disappointing earnings performance, B. Riley noted that it was especially impressed by the strong results from its potential weight loss asset VK2735, which could become a groundbreaking development in the field.