Why Viking Therapeutics Stock Popped Today

Viking Therapeutics (NASDAQ: VKTX) stock inched 2.3% higher through 10:20 a.m. ET Monday, and for a most curious reason.

Truist Securities analyst Joon Lee just lowered his price target on the unprofitable biotech stock. Now why would investors think this is good news for Viking?

The theory goes like this: Lee cut his price target on Viking from $95 to $75 a share, warning the company faces "intensifying competition in the obesity space" (as The Fly reports today). Yet even so, Lee says that 2025 will be a "year of execution" for Viking as it begins phase 3 clinical trials on its new GLP-1 obesity drug, VK2735.

Source Fool.com