BTIG sees positive readthroughs to Viking Therapeutics (VKTX) after Novo Nordisk (NVO) reported 22.7% weight loss with weekly CagriSema from the 68-week Phase 3 REDEFINE 1 trial in overweight/obese adults, which came under 25% weight loss expectations. Viking is trading up as investors look towards agents with higher efficacy, more tolerable safety, and more convenient dosing regimens, says the analyst, who calls strength in Viking shares today “welcome relief to investors following a challenging week” following pronounced weakness on Wednesday after news that Merck (MRK) licensed an oral GLP-1 agent, HS-10535, from China’s Hansoh Pharma. The firm reiterates a Buy rating and $125 price target on Viking shares, which are up $2.36, or 6%, to $43.85 in pre-market trading.
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