Oppenheimer raised the firm’s price target on Viking Therapeutics to $30 from $20 and keeps an Outperform rating on the shares. Topline Phase 1 results for VK2735 exceeded the firm’s best-case scenario with 6.0% placebo-adjusted weight loss at 28 days while Viking announced an oral formulation of the same molecule has entered the clinic in a Phase 1 study, the analyst tells investors in a research note. The firm believes VK2735 weight loss is driven by appetite suppression and not side effects, based on GI safety and tolerability.
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Published first on TheFly
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