These 10 Companies Led Monday’s Downturn

4. Viking Therapeutics Inc. (NASDAQ:VKTX)

Viking Therapeutics dropped its share prices by 7.34 percent on Monday to end at $30.17 apiece as investors reacted negatively to two investment firms’ significant dropping of their price targets for the company.

On Friday, Maxim lowered its price target for VKTX by 42 percent to $70 from $120 previously, 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 potentially become a groundbreaking development in the field.

VKTX initiated the phase 2 clinical trial of the oral tablet formulation of VK2735 in January this year, testing 280 enrolled obese adults for 13 weeks.