Jim Cramer Discusses Viking Therapeutics and Market Insights

Author: Logan Wright Updated: 09-20-2024 08:58 AM

Jim Cramer Highlights Viking Therapeutics

During a recent segment on CNBC's ‘Mad Money Lightning Round’, Jim Cramer emphasized the potential of Viking Therapeutics, trading under the ticker VKTX. He expressed strong confidence in the company, remarking, “This is a really fine company, and it will do well for multiple years because they have many ships coming in.” This phrase alludes to the numerous positive developments expected for the firm, signaling exciting times ahead for investors.

Analyst Insights on Viking Therapeutics

Analyst Hardik Parikh from JPMorgan is also optimistic about Viking Therapeutics, having initiated coverage with an Overweight rating. He set a price target of $80 for December 2025, which represents an impressive predicted upside of 45% from its latest price of $54.65. This endorsement from a reputable analyst adds credibility to Cramer’s bullish outlook.

Gentex Corporation: Caution Advised

In contrast to his positive comments on Viking Therapeutics, Cramer shared some caution regarding Gentex Corporation, ticker GNTX. He suggested that its strong ties to the automotive sector might hinder growth, especially given the current challenges faced by the auto industry. “I don’t see a quick turn. We're going to need several Fed rate cuts before they turn,” Cramer stated, suggesting investors remain vigilant.

Cadre Holdings Shows Promise

On a more positive note, Cramer labeled Cadre Holdings, Inc., represented by the ticker CDRE, as a “good simple story.” Cadre recently reported earnings of 31 cents per share, which surpassed analysts' expectations of 27 cents per share. The company’s sales for the quarter also outperformed predictions, coming in at $144.31 million against expectations of $142.05 million, showcasing its solid operational performance.

Celsius Holdings Under Scrutiny

Cramer also raised concerns about Celsius Holdings, Inc., trading under the ticker CELH. Noting that “Something's the matter with Celsius,” he expressed a desire to uncover the underlying issues facing the company. Recently, Celsius appointed Hans Melotte to its Board of Directors, a move that could signal strategic changes ahead.

Price Movements in Key Stocks

On a day of mixed results for the stocks discussed, Viking Therapeutics shares surged by 5.8%, closing at $68.16. Meanwhile, Gentex Corporation’s shares saw a slight increase of 1.8%, settling at $29.82. Cadre Holdings also enjoyed a gain, with its shares rising by 2.4% to $37.36. In contrast, Celsius Holdings experienced a downturn, with its shares falling by 0.6% to finish at $34.07.

Market Overview: What’s Next?

The insights presented by Jim Cramer reflect the ongoing shifts in the market and the varied potential of different stocks. Investors are advised to weigh these considerations carefully and stay tuned for further developments in the stocks of interest.

Frequently Asked Questions

What did Jim Cramer say about Viking Therapeutics?

Cramer indicated that Viking Therapeutics is a promising company with many opportunities ahead, making it a solid investment choice.

What price target did JPMorgan set for Viking Therapeutics?

JPMorgan analyst Hardik Parikh set a price target of $80 for Viking Therapeutics by December 2025, suggesting significant upside potential.

What is Cramer's view on Gentex Corporation?

Cramer expressed caution about Gentex, stating that its close ties to the struggling auto sector might hinder its recovery.

How did Cadre Holdings perform recently?

Cadre Holdings reported earnings of 31 cents per share, exceeding expectations while also showing strong sales performance.

What was Cramer’s assessment of Celsius Holdings?

Cramer indicated that there are issues with Celsius Holdings and is interested in understanding the company's challenges better.

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