H.C. Wainwright analyst Joseph Pantginis has reiterated their bullish stance on VKTX stock, giving a Buy rating on June 16.
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Joseph Pantginis has given his Buy rating due to a combination of factors related to Viking Therapeutics’ ongoing clinical trials and promising drug development pipeline. The initiation of Phase 3 trials for VK2735, named VANQUISH-1 and VANQUISH-2, marks significant progress towards market entry. These trials target obesity and type 2 diabetes, with the primary endpoint focusing on weight reduction, which aligns with the strong efficacy demonstrated by VK2735 in earlier studies.
Additionally, the company’s strategic move to explore monthly maintenance dosing and develop an oral formulation of VK2735 is seen as a positive step towards improving patient adherence and convenience. The oral formulation, in particular, could offer advantages over injectable options, potentially enhancing patient compliance. Pantginis’s valuation considers the contributions from Viking’s clinical stage assets, with VK2735 being a major contributor, and acknowledges the risks of clinical trial outcomes and funding challenges, yet remains optimistic about the company’s potential to achieve its price target.
In another report released on June 16, Piper Sandler also maintained a Buy rating on the stock with a $71.00 price target.