Maxim raised the firm’s price target on Viking Therapeutics to $120 from $50 and keeps a Buy rating on the shares after the company announced that the Phase 2 VENTURE study of the company’s injectable GLP-1 drug, VK2735, met all the primary and secondary endpoints. Considering the data and market potential of GLP-1s, the firm is reducing its risk-adjustment for VK2735 and discount rating for Viking, the analyst tells investors.
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