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Investing.com - Leerink Partners has reiterated an Outperform rating and $118.00 price target on Viking Therapeutics (NASDAQ:VKTX), currently trading at $26.71 with a market cap of $2.99 billion. The firm’s bullish stance aligns with the broader analyst consensus, as shown by InvestingPro data, with price targets ranging from $30 to $125.
The biopharmaceutical company has initiated the Phase 3 registrational VANQUISH program for its subcutaneous GLP-1/GIP dual agonist VK2735, with timing and program size aligning with previous company guidance. The trial will evaluate a higher 17.5mg weekly dose compared to the Phase 2 VENTURE trial, where the drug showed placebo-adjusted weight loss exceeding 13% at week 13 with the 15mg weekly dose. According to InvestingPro analysis, Viking maintains a "GOOD" financial health score and holds more cash than debt on its balance sheet, providing strong support for its clinical programs.
Data presented at Obesity Week in November 2024 revealed that patients who received VK2735 maintained 94% of their weight loss at 16 weeks and 83% at 19 weeks. The company plans to explore once-monthly dosing of subcutaneous VK2735 as a potential longer-term maintenance option in a separate trial expected to begin later this year.
Viking Therapeutics has secured a manufacturing and supply agreement with CordenPharma to provide production capacity for both subcutaneous and oral VK2735 across autoinjector, vial/syringe, and tablet formulations. This partnership ensures adequate supply for the company’s clinical programs.
Leerink Partners expects investor focus to remain on the upcoming Phase 2 results for oral VK2735, which are anticipated in the third quarter of 2025. The firm continues to see both fundamental and strategic value in Viking’s portfolio of obesity and metabolic disease programs. Discover more detailed insights and 8 additional key metrics with InvestingPro’s comprehensive research report, part of its coverage of over 1,400 US stocks.
In other recent news, Viking Therapeutics announced its first-quarter 2025 financial results, reporting a net loss of $0.41 per share, which was wider than analysts’ expectations of a $0.33 loss. Despite this, the company maintains a strong cash position with $852 million on hand as of March 31, 2025. Analysts at H.C. Wainwright reiterated their Buy rating with a $102 price target, expressing confidence in Viking’s financial stability and the potential of its VK2735 program. Meanwhile, Cantor Fitzgerald initiated coverage on Viking Therapeutics with an Overweight rating and a $104 price target, citing the promising potential of the company’s leading drug candidate, VK2735, in the obesity treatment market.
The focus remains on Viking Therapeutics’ VK2735, which is progressing towards Phase 3 trials for obesity and type 2 diabetes treatments. The company has made significant strides with its VK2735 program, including the initiation of Phase 3 trials for the subcutaneous formulation set to begin in the second quarter of 2025. Additionally, Viking has secured a manufacturing agreement with CordenPharma for the supply of VK2735, positioning the company for potential commercialization. The upcoming Phase 2 data for the oral formulation of VK2735, expected in the second half of 2025, is anticipated as a significant catalyst for the company. Investors are closely watching these developments as Viking Therapeutics continues its journey through the clinical trial process.
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