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.
Published first on TheFly
See the top stocks recommended by analysts >>
Read More on VKTX:
- Stifel reiterates Buy on Viking Therapeutics, raises price target to $25
- Viking’s VK2735 looks like ‘heavyweight contender,’ says H.C. Wainwright
- VKTX Soars on Promising VK2735 Data
- Viking Therapeutics initiates Phase 1 study of novel formulation of VK2735
- Viking Therapeutics announces results from Phase 1 trial of VK2735
