William Blair analyst Andy Hsieh has maintained their bullish stance on VKTX stock, giving a Buy rating on November 11.
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Andy Hsieh has given his Buy rating due to a combination of factors that highlight the promising potential of Viking Therapeutics’ VK2735. The rapid completion of enrollment in the Phase III VANQUISH-1 trial underscores the strong interest and potential effectiveness of VK2735 in treating obesity and related conditions. This swift progress from Phase I to Phase III trials within three years demonstrates the company’s efficient development strategy.
Additionally, the market opportunity for VK2735 is significant, and while Viking Therapeutics is advancing the drug independently, the involvement of a large pharmaceutical company could further enhance its value by navigating complex reimbursement landscapes. The ongoing studies, including a Phase I maintenance dosing study and the upcoming DACRA program, indicate a robust pipeline that supports the long-term growth prospects of Viking Therapeutics, justifying the Buy rating.
In another report released on November 11, Canaccord Genuity also maintained a Buy rating on the stock with a $107.00 price target.