Stifel reiterates Buy on Viking Therapeutics, raises price target to $25

Stifel raised the firm’s price target on Viking Therapeutics to $25 from $22 and reiterated a Buy rating on the shares following positive Phase 1 MAD/SAD data for VK2735, which demonstrated a promising PK profile, acceptable safety/tolerability, rapid and dose-dependent weight loss, and durability after exposures-suggesting a highly attractive profile in an increasingly competitive field. Most encouragingly, Viking has initiated a 28-day Phase 1 study to test an oral daily formulation, which could further complement the entire program, the firm adds. With these data, Stifel continues to see potential for VK2735 to be "best-in-class."