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Viking Therapeutics
(NASDAQ:VKTX)
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Rating:58Neutral
Price Target:
$27.00
▼(-20.98% Downside)
Action:Reiterated
Date:09/29/26
VKTX scores as a mid-risk biotech: strong pipeline/clinical execution signals (earnings call and new maintenance data) and a supportive technical trend are meaningful positives, but they are tempered by weak current financial performance driven by no revenue and rapidly expanding losses/cash burn, with limited valuation support given negative earnings and no dividend.
Positive Factors
Durable Weight-Loss Maintenance Profile
VK2735’s ability to preserve most prior weight loss with less frequent dosing could improve adherence and long-term treatment convenience. The result strengthens the product’s potential differentiation and supports a broader commercial use case beyond initial weight reduction if confirmed in later development.
Negative Factors
Pre-Revenue Business Model
The absence of meaningful revenue means Viking currently depends on capital markets or future licensing and commercialization outcomes to support operations. Until a candidate is approved and monetized, the company has no established product sales base to offset research and corporate expenses.
Read all positive and negative factors
Positive Factors
Negative Factors
Durable Weight-Loss Maintenance Profile
VK2735’s ability to preserve most prior weight loss with less frequent dosing could improve adherence and long-term treatment convenience. The result strengthens the product’s potential differentiation and supports a broader commercial use case beyond initial weight reduction if confirmed in later development.
Read all positive factors
Viking Therapeutics (VKTX) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$3.40B
Dividend YieldN/A
Average Volume (3M)7.58M
Price to Earnings (P/E)―
Beta (1Y)1.04
Revenue GrowthN/A
EPS Growth-203.77%
CountryUS
Employees65
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-4.66
Shares Outstanding127,165,250
10 Day Avg. Volume5,454,327
30 Day Avg. Volume7,579,559
Financial Highlights & Ratios
PEG Ratio-0.05
Price to Book (P/B)6.20
Price to Sales (P/S)0.00
P/FCF Ratio-14.22
Enterprise Value/Market Cap1.19
Enterprise Value/RevenueN/A
Enterprise Value/Gross Profit-19.41K
Enterprise Value/Ebitda-7.56
Forecast
1Y Price Target
$91.71Price Target Upside168.38% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering18
EPS Forecast (FY)-4.6
Revenue Forecast (FY)N/A
Viking Therapeutics Business Overview & Revenue Model
Company Description
Viking Therapeutics, Inc. operates as a clinical-stage biopharmaceutical company, specializing in the creation of novel treatments for metabolic and endocrine conditions. The company's leading investigational drug, VK2809, is an orally administere...
How the Company Makes Money
As a clinical-stage biotechnology company, Viking Therapeutics does not primarily generate revenue from commercial product sales because it does not have widely marketed, approved products. Instead, its business model centers on creating sharehold...
Viking Therapeutics Earnings Call Summary
Earnings Call Date:Jul 29, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Oct 28, 2026
Earnings Call Sentiment Positive
The call highlights substantial clinical progress: fully enrolled large Phase III programs for subcutaneous VK2735, positive Phase II efficacy for both subcutaneous and oral formulations (notably up to 14.7% and 12.2% mean weight loss, respectively), initiation of an early-stage amylin/calcitonin program (VK3019), and organizational hires to support commercialization. These scientific and pipeline milestones are balanced against materially higher R&D spend, widening net losses and a meaningful cash decline (~28.9% year-to-date). Management reiterated cash runway into 2028 and expects cash burn to taper, while noting upcoming maintenance study data and oral Phase III initiation later in the year. Overall, clinical momentum and promising efficacy data are dominant positives, while financial burn and early-stage uncertainties are notable negatives.Positive Updates
Phase III VANQUISH Program Fully Enrolled and On Track
Both VANQUISH-1 (≈4,500 patients) and VANQUISH-2 (≈1,000 patients) are fully enrolled and progressing as planned; randomized arms include 7.5 mg, 12.5 mg, 17.5 mg and placebo with a 78-week primary endpoint assessing percent change in body weight.
Negative Updates
Sharp Increase in Research & Development Spending
R&D expense for Q2 2026 was $115.8 million vs $60.2 million in Q2 2025, an increase of approximately 92.4%; for the six months ended June 30, 2026 R&D was $266.0 million vs $101.5 million in 2025, an increase of ~162.1%, driven largely by clinical study activity and related costs.
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Q2-2026 Updates
Positive
Negative
Phase III VANQUISH Program Fully Enrolled and On Track
Both VANQUISH-1 (≈4,500 patients) and VANQUISH-2 (≈1,000 patients) are fully enrolled and progressing as planned; randomized arms include 7.5 mg, 12.5 mg, 17.5 mg and placebo with a 78-week primary endpoint assessing percent change in body weight.
Read all positive updates
Company Guidance
The company reiterated near‑term development and financial timelines and metrics: Viking ended Q2 2026 with $502M in cash (down from $706M at 12/31/25) and expects runway into 2028; Q2 operating spending included R&D of $115.8M (vs. $60.2M Q2’25) and G&A of $16.9M (vs. $14.4M Q2’25), producing a Q2 net loss of $128.1M ($1.10/share) and a six‑month net loss of $286.3M ($2.47/share) with YTD R&D of $266M (vs. $101.5M YTD’25) and YTD G&A ~$30.8M (vs. $28.5M YTD’25); clinically, the VANQUISH Phase III subcutaneous program (randomized to 7.5, 12.5, 17.5 mg or placebo) remains on track (primary endpoint % change in body weight at 78 weeks) after rapid enrollment (~4,500 in VANQUISH‑1 by Nov 2025, ~1,000 in VANQUISH‑2 completed Q1’26), extensions expected late‑2026/early‑2027; oral VK2735 Phase III (two studies mirroring VANQUISH but ~75% smaller) is planned to start in Q4 2026; the maintenance range‑finding study (21‑week induction then a 12‑week maintenance window with weekly, every‑other‑week and monthly arms) was initiated Q4’25, is nearing completion with topline results expected later this quarter and an oral maintenance portion due H1 2027; Phase II toplines showed up to 14.7% (subQ) and 12.2% (oral) mean weight loss at 13 weeks (oral: up to 80% ≥10% vs 5% placebo), and a Phase I SAD for VK3019 (DACRA) is underway with further MAD/readouts expected into 2027.Viking Therapeutics Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
72
Positive
Cash Flow
24
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -208.00K | -431.00K | 0.00 | 0.00 | 0.00 | 0.00 |
| EBITDA | -534.34M | -359.15M | -109.52M | -85.52M | -68.52M | -54.68M |
| Net Income | -534.80M | -359.64M | -109.96M | -85.89M | -68.87M | -54.99M |
Balance Sheet | ||||||
| Total Assets | 521.90M | 715.73M | 908.32M | 368.49M | 168.53M | 210.66M |
| Cash, Cash Equivalents and Short-Term Investments | 501.66M | 705.74M | 902.61M | 362.08M | 155.49M | 202.10M |
| Total Debt | 4.09M | 137.00K | 1.12M | 1.26M | 1.56M | 29.00K |
| Total Liabilities | 113.58M | 76.67M | 28.04M | 20.07M | 23.21M | 8.78M |
| Stockholders Equity | 408.32M | 639.06M | 880.28M | 348.42M | 145.32M | 201.88M |
Cash Flow | ||||||
| Free Cash Flow | -418.44M | -278.69M | -87.79M | -73.38M | -48.40M | -47.59M |
| Operating Cash Flow | -418.44M | -278.69M | -87.79M | -73.38M | -48.40M | -47.59M |
| Investing Cash Flow | 399.26M | 341.39M | -553.37M | -179.09M | 54.75M | 37.96M |
| Financing Cash Flow | 111.25M | 76.44M | 612.46M | 271.38M | 4.16M | 6.88M |
Viking Therapeutics Technical Analysis
Negative
34.17
Price Trends
31.52
Negative
32.96
Negative
32.60
Negative
Market Momentum
-1.85
Positive
39.42
Neutral
34.92
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For VKTX, the sentiment is Negative. The current price of 34.17 is above the 20-day moving average (MA) of 28.64, above the 50-day MA of 31.52, and above the 200-day MA of 32.60, indicating a bearish trend. The MACD of -1.85 indicates Positive momentum. The RSI at 39.42 is Neutral, neither overbought nor oversold. The STOCH value of 34.92 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for VKTX.
Viking Therapeutics Risk Analysis
Viking Therapeutics disclosed 77 risk factors in its most recent earnings report. Viking Therapeutics reported the most risks in the "Tech & Innovation" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Viking Therapeutics Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
58 Neutral | $3.40B | -5.66 | -94.56% | ― | ― | -203.77% | |
53 Neutral | $2.57B | -9.86 | -38.33% | ― | -88.87% | -35.06% | |
52 Neutral | $1.63B | -7.26 | -16.91% | ― | ― | 1.47% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
50 Neutral | $1.91B | -4.98 | -57.97% | ― | ― | -19.00% | |
38 Underperform | $3.35B | -0.75 | -15.14% | ― | ― | ― |
* Healthcare Sector Average
VKTX
Viking Therapeutics
25.83
-8.09
-23.85%
NAMS
NewAmsterdam Pharma Company
21.58
-14.70
-40.52%
MLYS
Mineralys Therapeutics, Inc.
21.47
-19.34
-47.39%
GPCR
Structure Therapeutics, Inc. Sponsored ADR
21.93
-4.63
-17.43%
KLRA
Kailera Therapeutics, Inc.
13.27
-12.73
-48.96%
PBLS
Parabilis Medicines, Inc.
26.92
-4.68
-14.81%
Viking Therapeutics Corporate Events
Business Operations and StrategyPrivate Placements and Financing
Viking Therapeutics Raises Capital via Equity and Convertibles
Positive
Sep 28, 2026
On September 23, 2026, Viking Therapeutics entered into an equity underwriting agreement to sell 7,857,143 shares of common stock at $35.00 per share, with underwriters exercising a 30‑day option for an additional 1,178,571 shares on Septemb...
Business Operations and StrategyProduct-Related Announcements
Viking Therapeutics Reports Strong Obesity Drug Maintenance Data
Positive
Sep 22, 2026
On September 22, 2026, Viking Therapeutics reported positive top-line data from a maintenance study of its GLP-1/GIP agonist VK2735 in adults with obesity, showing robust weight loss during a 21-week induction phase and strong maintenance under le...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.