Five Chinese Firms Dominate Friday’s Top 10 Gainers

4. Viking Therapeutics Inc. (NASDAQ:VKTX)

Viking Therapeutics rose by 7.71 percent on Friday, ending the trading session at $34.07 apiece, as investor sentiment was fueled by renewed takeover speculations.

According to reports, pharmaceutical giant Pfizer Inc. (NYSE:PFE) is setting its sights on VKTX for a potential takeover, and Morgan Stanley has been tapped as its advisor for the acquisition.

The rumors came days after the company released its earnings performance in the fourth quarter of the year, widening its net loss by 44 percent to $35.4 million from 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.

VKTX also 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.