Viking Therapeutics price target raised to $100 from $86 at BTIG

BTIG raised the firm’s price target on Viking Therapeutics (VKTX) to $100 from $86 and keeps a Buy rating on the shares. The analyst cites the FDA granting Madrigal’s (MDGL) REZDIFFRA, or Resmetirom, accelerated approval for NASH patients with stage F2/F3 disease, becoming the “first drug approved for NASH”. BTIG adds that the upcoming launch is advantageous for other therapies in the NASH space, such as Viking’s VK2809, as the bulk of the effort in educating patients, clinicians, and payors will fall on Madrigal and allow companies like Viking to be a fast follower in the market.