William Blair analyst Andy Hsieh has maintained their bullish stance on VKTX stock, giving a Buy rating today.
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Andy Hsieh’s rating is based on several promising developments at Viking Therapeutics. The company is preparing to initiate a Phase III trial for VK2735 targeting obesity and obesity with type 2 diabetes, which is a significant step forward in their clinical pipeline. Additionally, the upcoming Phase II VENTURE-Oral trial results for VK2735 in its oral tablet formulation are expected in the second half of the year, adding further potential to their product offerings.
Moreover, Viking Therapeutics is set to begin a Phase I trial for a new amylin and calcitonin dual agonist program, indicating a robust pipeline with multiple avenues for growth. The company’s strong financial position, with $852 million in cash at the end of the first quarter, provides a solid foundation to support these initiatives for over three years. This financial stability, combined with the strategic advancements in their clinical trials, underpins Andy Hsieh’s Buy rating for Viking Therapeutics.
Hsieh covers the Healthcare sector, focusing on stocks such as Skye Bioscience, Altimmune, and Viking Therapeutics. According to TipRanks, Hsieh has an average return of 4.5% and a 39.41% success rate on recommended stocks.
In another report released today, Oppenheimer also maintained a Buy rating on the stock with a $100.00 price target.