Why Viking Therapeutics Stock Topped the Market Today
Although Viking Therapeutics (NASDAQ: VKTX) is a busy company, on Monday its stock moved because of external news. A pundit reiterated his bullish take on the clinical-stage biotech, boosting sentiment on its shares and sending them nearly 3% higher in price. That was more than good enough to top the rising S 500 index, which closed the trading session up by 0.4%.
Like many investors, Morgan Stanley analyst Michael Ulz sees vast potential for Viking's VK2735, an investigational weight-loss drug. Due largely to this, in his opinion, the biotech is an overweight (read: buy) at a price target of $105 per share.
VK2735 has performed admirably in early- and mid-stage clinical testing, and should soon advance to a crucial and extensive phase 3 trial. If that goes well and the medication ends up winning Food and Drug Administration (FDA) approval, it would immediately be competitive with the hotly popular GLP-1 drugs Wegovy from Novo Nordisk and Eli Lilly's recently approved Zepbound.
Source Fool.com
Viking Therapeutics Inc Stock
Our community is currently high on Viking Therapeutics Inc with 5 Buy predictions and 0 Sell predictions.
With a target price of 45 € there is a hugely positive potential of 89.23% for Viking Therapeutics Inc compared to the current price of 23.78 €.
