William Blair analyst Andy Hsieh has maintained their bullish stance on VKTX stock, giving a Buy rating yesterday.
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Andy Hsieh has given his Buy rating due to a combination of factors that highlight Viking Therapeutics’ strategic positioning and potential in the pharmaceutical industry. The company is making significant strides in its obesity franchise, which is considered to have unique qualities that could attract interest from major pharmaceutical companies, especially in light of recent business development trends.
Viking’s VK2735 asset, with its promising oral and subcutaneous formulations, is seen as having best-in-class potential. Additionally, the company’s dual amylin and calcitonin receptor agonist program adds further value and optionality. The growing interest in the direct-to-consumer market also provides Viking with multiple opportunities for success, independent of any acquisition scenarios. These factors collectively reinforce the company’s strong outlook and justify the Buy rating.
In another report released yesterday, Canaccord Genuity also initiated coverage with a Buy rating on the stock with a $106.00 price target.
Based on the recent corporate insider activity of 26 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.