H.C. Wainwright analyst Joseph Pantginis reiterated a Buy rating on Viking Therapeutics (VKTX – Research Report) today and set a price target of $102.00.
Joseph Pantginis’s rating is based on the promising potential of Viking Therapeutics’ VK2735, particularly in the treatment of obesity and type 2 diabetes. The recent results from Novo Nordisk’s REDEFINE-2 trial highlight the effectiveness of similar treatments, reinforcing the potential of VK2735 as it moves towards Phase 3 trials. In the Phase 2 VENTURE trial, VK2735 demonstrated significant weight loss in obese patients, suggesting it could outperform existing treatments in both speed and magnitude of weight reduction.
Moreover, the dual GLP-1/GIP mechanism of VK2735 positions it as a competitive option in the metabolic treatment space. Pantginis’s valuation reflects the contributions of Viking’s clinical stage assets, with VK2735 accounting for a significant portion. The Buy rating and price target of $102 are supported by a clinical net present value model, though potential risks include clinical trial outcomes and funding challenges.
In another report released on March 6, B.Riley Financial also reiterated a Buy rating on the stock with a $96.00 price target.
Based on the recent corporate insider activity of 47 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.