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The latest trading day saw Viking Therapeutics, Inc. (VKTX) settling at $63.13, representing a +1.94% change from its previous close.
An analyst reiterated his optimistic stance on the biotech. Like many others, he feels its leading investigational drug has great potential.
Viking Therapeutics' weight-loss drug VK2735 shows strong efficacy, likely leading to an acquisition by a large pharmaceutical firm, in my opinion. But the firm faces significant risks and competition. The timeline for a takeover bid may be longer than expected, and the acquisition price could be lower than bullish estimates. Marketing VK2735 independently or finding a strategic partner will be challenging, yet the stock is a buy for patient, risk-tolerant, long-term investors.
Viking Therapeutics, Inc. stock has surged nearly 1,500% since 2023, driven by the promising GLP-1/GIP receptor agonist VK-2735 for obesity. VK-2735's Phase 2 data showed weight loss comparable to Novo Nordisk's Wegovy and Eli Lilly's Zepbound, pitching it to one day compete in a >$150bn market. Viking's strong financial position, upcoming Phase 3 trials, and potential oral formulation of VK-2735 justify upgrading the stock to a “Buy.”.
Viking Therapeutics Inc. NASDAQ: VKTX, a clinical-stage biotechnology company with a market cap approaching $7 billion, is turning heads in 2024. Year to date, the stock has surged an impressive 238%, and its rise over the past 12 months has been even more dramatic, with shares climbing 326%.
Viking Therapeutics, Inc. (VKTX) closed at $67.10 in the latest trading session, marking a +0.55% move from the prior day.
Many investors and prognosticators think one investigational drug in particular has vast potential. If ultimately approved, VK2735 would surely be competitive in a highly popular segment.
Karl-Hendrik Tittel / Getty Images There's also Altimmune (NASDAQ:ALT), whose pemvidutide treatment led to weight loss while preserving lean mass.
The recommendations of Wall Street analysts are often relied on by investors when deciding whether to buy, sell, or hold a stock. Media reports about these brokerage-firm-employed (or sell-side) analysts changing their ratings often affect a stock's price.
An analyst initiated coverage of the biotech. He's optimistic about its future, to put it mildly.