Wall Street analysts set a $91 price target for VKTX, implying significant upside amid phase 3 trials for its weight-loss drug candidate.
Viking Therapeutics (NASDAQ: VKTX) stock retreated after surging over 19% in June, drawing attention from analysts who see substantial growth potential. The consensus price target stands at nearly $91, suggesting a 150% upside from current levels.
The optimism stems from VKTX’s lead drug, VK2735, a dual-formulation therapy for weight loss. Phase 2 trial data showed promising efficacy, with faster weight-loss results than competitors. Phase 3 trials for the subcutaneous version are underway, while the oral trial is set to begin in Q4 2024.
Despite risks, including tolerability concerns from phase 2 oral data, analysts remain bullish. Results from the subcutaneous phase 3 trial are expected no earlier than late 2027.