B. Riley views the selloff in shares of Viking Therapeutics (VKTX) following VK2735 oral weight loss data as overdone. The pullback indicates the dataset disappointed investor expectations, particularly as cross-trial comparisons are being made to Eli Lilly’s (LLY) oral GLP1 orforglipron, the analyst tells investors in a research note. Riley’s base case of oral VK2735 remaining important to the maintenance therapy phase is unchanged. It reiterates a Buy rating on Viking with an $85 price target. The stock closed Tuesday down 42% to $24.363.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on VKTX:
- Why Is Viking Therapeutics Stock (VKTX) Down 40% Today?
- Viking Therapeutics weakness ‘overdone,’ says Leerink
- Market ‘overreacting’ to Viking Therapeutics adverse events, says Jefferies
- Viking Therapeutics’ VK2735: Promising Phase 2 Results Highlight Strong Market Potential and Commercial Viability
- Stifel says buy Viking Therapeutics following ‘overreaction’ to Phase 2 outcome