H.C. Wainwright raised the firm’s price target on Viking Therapeutics (VKTX) to $102 from $90 and keeps a Buy rating on the shares. The VK2735 ongoing trials highlight “significant and sustained weight loss,” the analyst tells investors in a research note. The firm says weekly subcutaneous injections of VK2735 over 13 weeks resulted in weight loss of up to 14.7% from baseline, with no plateau observed. It believes Viking “continues to excel with VK2735, both in its subcutaneous and oral formulations, further solidifying its potential as a best-in-class drug.” The recent oral data suggest that VK2735 positions Viking as a top contender in the oral space, particularly with the impressive weight loss results observed, contends H.C. Wainwright.
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