Leerink Partners analyst Thomas Smith reiterated a Buy rating on Viking Therapeutics yesterday and set a price target of $118.00.
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Thomas Smith has given his Buy rating due to a combination of factors surrounding Viking Therapeutics’ promising clinical developments and strategic initiatives. The company has shown significant progress in its metabolism-focused pipeline, particularly with the Phase 2 VENTURE-Oral trial of VK2735, a dual GLP-1/GIP agonist. The trial is on track for a topline data readout in the second half of 2025, with expectations for competitive clinical outcomes in terms of weight loss.
Additionally, the initiation of the Phase 3 VANQUISH program for the subcutaneous version of VK2735 demonstrates Viking Therapeutics’ commitment to advancing their clinical programs. The company is also exploring new formulations and delivery methods, such as transitioning to an auto-injector and evaluating a monthly maintenance regimen. These strategic moves, along with their agreement with CordenPharma to ensure sufficient drug supply, underpin the positive outlook for Viking Therapeutics, justifying the Buy rating.
In another report released yesterday, Cantor Fitzgerald also reiterated a Buy rating on the stock with a $104.00 price target.
Based on the recent corporate insider activity of 45 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.