Analyst Joseph Pantginis of H.C. Wainwright reiterated a Buy rating on Viking Therapeutics (VKTX – Research Report), retaining the price target of $102.00.
Discover the Best Stocks and Maximize Your Portfolio:
- See what stocks are receiving strong buy ratings from top-rated analysts.
- Filter, analyze, and streamline your search for investment opportunities with TipRanks’ Stock Screener.
Joseph Pantginis has given his Buy rating due to a combination of factors related to Viking Therapeutics’ strategic advancements and promising outlook in the obesity treatment market. The company reported substantial financial progress, ending the year with $903 million in cash, which positions it well to support its ongoing research and development activities. Significant achievements in their obesity franchise, particularly with the VK2735 program in both subcutaneous and oral formulations, have shown encouraging clinical results, suggesting strong potential in a competitive field.
Looking ahead to 2025, Pantginis highlights the expected momentum from Viking’s initiatives, including planned Phase 3 trials for the VK2735 subcutaneous formulation, which will target obesity and obesity with type 2 diabetes. The initiation of the 13-week Phase 2a VENTURE-Oral Dosing Trial underscores Viking’s commitment to expanding their pipeline and validating their approach. Additionally, the company is exploring partnering opportunities for VK0214, which showed positive Phase 1b results in X-ALD patients, and plans to advance its DACRA program following promising preclinical data. These strategic steps indicate a solid trajectory for growth and innovation, supporting the Buy recommendation.
Pantginis covers the Healthcare sector, focusing on stocks such as Cytokinetics, Esperion, and Viking Therapeutics. According to TipRanks, Pantginis has an average return of -2.9% and a 31.37% success rate on recommended stocks.
In another report released on January 27, B.Riley Financial also maintained a Buy rating on the stock with a $109.00 price target.