Viking Therapeutics price target raised to $138 from $116 at Oppenheimer

Oppenheimer analyst Jay Olson raised the firm’s price target on Viking Therapeutics to $138 from $116 and keeps an Outperform rating on the shares. The firm notes Viking reported positive topline results from the Phase 1 trial of oral VK2735, supporting advancement into Phase 2 and expanding an already impressive opportunity for the company’s obesity program. Based on the promising initial results, Oppenheimer believes Viking has multiple options to explore additional dosing regimens and further optimize the safety/efficacy profile, including the potential for patients to start on oral and progress to subQ.