BTIG analyst Justin Zelin raised the firm’s price target on Viking Therapeutics to $125 from $100 and keeps a Buy rating on the shares. The company reported “impressive” first in human data for oral VK2735, demonstrating 3.3% placebo adjusted weight loss in the highest dose cohort at 28-days with an “excellent” tolerability profile, the analyst tells investors in a research note. The firm says the data and stock rally hits the higher range of its preview expectations of 15%-25% strength with 1%-3% weight loss in its base case. BTIG believes VK2735 has potential best-in-class safety profile. Safety and tolerability is the most important factor among the oral market, with efficacy following and Viking’s asset is “leading the competition,” the firm contends.
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