Morgan Stanley analyst Michael Ulz has reiterated their bullish stance on VKTX stock, giving a Buy rating yesterday.
Michael Ulz has given his Buy rating due to a combination of factors surrounding Viking Therapeutics’ promising developments in their VK2735 trials. The recent completion of enrollment in the Phase 2 VENTURE-Oral dosing trial, which is exploring various doses over a 13-week treatment period, indicates strong interest and efficient execution by the company. The previous Phase 1 study demonstrated significant weight loss results, and management’s anticipation of similar outcomes in the Phase 2 study, particularly at lower doses, suggests potential for a successful maintenance option.
Furthermore, Viking Therapeutics is on track to initiate Phase 3 development of the subcutaneous formulation of VK2735 in the first half of 2025. This progression, along with the expected data release from the Phase 2 oral trial in the second half of 2025, are seen as pivotal catalysts for the company’s growth. These developments, combined with the company’s strategic focus on weight maintenance strategies, underpin Ulz’s confidence in recommending a Buy rating for Viking Therapeutics.
According to TipRanks, Ulz is an analyst with an average return of -5.9% and a 35.56% success rate. Ulz covers the Healthcare sector, focusing on stocks such as Viking Therapeutics, Alnylam Pharma, and Sarepta Therapeutics.