Viking Therapeutics

Oppenheimer raises the price target for Viking Therapeutics to $120 and rates the probability of success for the dual GLP-1/GIP agonist VK2735 as high at 90%. VK2735 showed in clinical data up to 97% maintenance of weight loss with reduced dosing intervals. Viking is therefore focusing on the rapidly growing market for obesity therapies. » Más en finanzen.net

Viking Therapeutics' shares jumped 35.7% after phase‑1 data on VK2735 were presented, with investors hoping for opportunities in the growing obesity market. Study results show flexible dosing options, sustained weight loss through week 33 and an unremarkable safety profile. Morgan Stanley reaffirms a buy rating with a fair value of $95, Jefferies and Oppenheimer see price targets of $101 and $120 respectively, and the average target is similar to Morgan Stanley's. After the price surge the market capitalization is just under $4.8 billion; high volatility and risks remain. » Más en deraktionaer.de

Viking Therapeutics reported in a maintenance study that VK2735 preserved up to 97% of prior weight loss with biweekly dosing and up to 90% with monthly dosing, compared with 61% for placebo. Gastrointestinal side effects in the maintenance phase were comparable to placebo, and the company is also investigating oral maintenance doses. The stock rose sharply and analysts see considerable upside, with a median price target of around $90. Risks remain, as Viking still faces important clinical and regulatory milestones and the market is dominated by Eli Lilly and Novo Nordisk. » Más en finanzen.net