Viking Therapeutics initiated with an Overweight at Morgan Stanley

Morgan Stanley analyst Michael Ulz initiated coverage of Viking Therapeutics with an Overweight rating and $105 price target. The analyst believes the Phase 2 data for VK2735 and VK2809 suggest a “potential best-in-class profile” in obesity and non-alcoholic steatohepatitis, respectively, supporting two separate blockbuster market opportunities for Viking. The firm expects the company’s near-term updates to drive further share upside. Obesity represents a large and rapidly growing market with opportunity for differentiated agents, Morgan Stanley contends.