BTIG analyst Jeet Mukherjee has reiterated their bullish stance on VKTX stock, giving a Buy rating yesterday.
Jeet Mukherjee’s rating is based on several promising aspects of Viking Therapeutics’ pipeline and strategic developments. The company has a compelling range of products in development, including their oral and subcutaneous GLP-1/GIP programs, which have shown promising safety profiles and potential for once-a-month dosing. The ongoing Phase 2 study of oral VK2735 has demonstrated competitive weight loss results, which positions it favorably against other treatments in the market.
Additionally, Viking Therapeutics is preparing to initiate Phase 3 trials for their subcutaneous VK2735, which has shown significant weight loss and low levels of gastrointestinal side effects in earlier trials. The company’s recent manufacturing agreement with CordenPharma ensures a robust supply chain for their products, further strengthening their market position. These factors, combined with the company’s current valuation and market potential, underpin Mukherjee’s Buy rating for Viking Therapeutics.
In another report released yesterday, Morgan Stanley also reiterated a Buy rating on the stock with a $105.00 price target.
Based on the recent corporate insider activity of 43 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of VKTX in relation to earlier this year.