Analyst Joseph Pantginis of H.C. Wainwright reiterated a Buy rating on Viking Therapeutics, retaining the price target of $102.00.
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Joseph Pantginis has given his Buy rating due to a combination of factors including the promising performance of Viking Therapeutics’ VK2735 in comparison to Eli Lilly’s orforglipron. The Phase 1 data for VK2735 showed favorable discontinuation rates due to adverse events, which were similar or better than those observed in Eli Lilly’s larger study. This suggests a strong safety profile for VK2735, which is a positive indicator for its ongoing development.
Moreover, the efficacy of VK2735 in terms of weight reduction is noteworthy. In the Phase 1 trial, the highest dose of VK2735 demonstrated a significant mean percent change from baseline, indicating potential for further weight loss with an extended dosing period. Pantginis anticipates that the Phase 2 study will continue to show robust results, potentially exceeding the weight loss outcomes seen in Eli Lilly’s trial. These factors collectively position VK2735 as a strong contender in the oral treatment space, justifying the Buy rating.
According to TipRanks, Pantginis is an analyst with an average return of -14.3% and a 34.96% success rate. Pantginis covers the Healthcare sector, focusing on stocks such as Krystal Biotech, Capricor Therapeutics, and Esperion.