Oppenheimer Raises Viking Therapeutics Price Target to $120
Yahoo Finance ·
Oppenheimer analyst Jay Olson has adjusted his price target for Viking Therapeutics to $120 from $100 while keeping an outperform rating on the equity. With the shares trading around $28.50 at the time of the report, reaching this ambitious milestone implies a potential quadrupling in valuation. Wall Street opinion remains mixed regarding the firm and its flagship drug candidate, VK2735, which functions as a GLP-1 and GIP receptor agonist. While firms like Canaccord and Raymond James align closely with Oppenheimer's bullish stance, Goldman Sachs analyst Richard Law maintains a much more conservative target of $38, pointing to the critical upcoming phases of the oral maintenance trials for VK2735.
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Oppenheimer analyst Jay Olson raised Viking Therapeutics (VKTX) price target from $100 to $120 while maintaining an Outperform rating. This implies a potential quadrupling from the trading price of $28.50, highlighting the potential of its core pipeline drug VK2735. Wall Street views range from Goldman Sachs' $38 to Oppenheimer's $120, with clinical trial results acting as a key variable.
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- Biotechnology — Oppenheimer raised Viking Therapeutics' price target to $120 and praised the potential of the GLP-1 and GIP novel drug VK2735, strengthening upward momentum for the biotech firm.
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Oppenheimer's price target hike reflects high confidence in the success potential of VK2735, a dual GLP-1 and GIP receptor agonist for obesity. For the stock to reach $120 from its current $28.50, successful data from subsequent clinical trials is essential.
In a bullish scenario, positive clinical results from the oral maintenance therapy of VK2735 could expand market share and drive a sharp stock rally. Conversely, in a bearish scenario, risks highlighted by Goldman Sachs in long-term maintenance trials could emerge, requiring close monitoring of upcoming clinical data release schedules.
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