Viking Therapeutics (VKTX – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst yesterday. Analyst Michael Ulz from Morgan Stanley reiterated a Buy rating on the stock and has a $105.00 price target.
Michael Ulz has given his Buy rating due to a combination of factors that highlight Viking Therapeutics’ promising future prospects. The company’s focus on advancing its obesity pipeline, particularly the VK2735 compound, is a significant driver. The management’s confidence in securing a commercial manufacturing contract in the near term is seen as a crucial catalyst for the company’s growth, potentially unlocking a multibillion-dollar market opportunity.
Moreover, the company’s strategic plan to initiate Phase 3 obesity studies by the second quarter of 2025, backed by positive feedback from the FDA, strengthens the outlook. The management’s assurance in their Phase 3 strategy, along with the progress in Phase 2 oral trials, further supports the positive sentiment. These developments, combined with the anticipation of a commercial manufacturing agreement, are expected to drive the stock’s upside potential, justifying the Buy rating.
According to TipRanks, Ulz is an analyst with an average return of -4.8% and a 34.94% success rate. Ulz covers the Healthcare sector, focusing on stocks such as Alnylam Pharma, Sarepta Therapeutics, and Viking Therapeutics.