Roth sees positive readthrough to Viking Therapeutics from Novo data

Roth MKM analyst Dylan Dupuis keeps a Buy rating on Viking Therapeutics (VKTX) with a $32 price target after Novo Nordisk (NVO) announced positive results from the Phase 3 SELECT trial that showed semaglutide reduced the risk of major adverse cardiovascular events by 20% in obese and overweight adults. The analyst sees positive readthrough from the data to Viking, which has its own GLP1-RA program VK2735 in clinical development. GLP1-receptor agonists are no longer just about the cosmetic benefit in obesity, which reads through positive to Viking’s VK2735, the analyst tells investors in a research note. Viking shares in afternoon trading are up 7% to $13.66.