H.C. Wainwright analyst Joseph Pantginis has reiterated their bullish stance on VKTX stock, giving a Buy rating today.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Joseph Pantginis has given his Buy rating due to a combination of factors surrounding Viking Therapeutics’ recent trial results and market positioning. The Phase 2 VENTURE-Oral Dosing Trial of VK2735 for weight loss showed promising results, with the drug achieving a 12.2% average weight loss from baseline in just 13 weeks. This outcome is competitive when compared to other trials, such as Eli Lilly’s ATTAIN-1 and Novo Nordisk’s OASIS 1, despite differences in trial design and duration.
Moreover, Pantginis sees potential in optimizing the tolerability profile of VK2735. The adverse events, primarily gastrointestinal symptoms, were most prominent early in the treatment but decreased significantly after the initial weeks. He suggests that a slower titration approach in future studies could further improve the drug’s safety profile. These factors, combined with the evolving landscape of GLP-1 studies and the potential for VK2735 to stand out in the market, contribute to Pantginis’s positive outlook and Buy rating for Viking Therapeutics.
Based on the recent corporate insider activity of 33 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of VKTX in relation to earlier this year.