An analyst initiated coverage of the biotech. He's optimistic about its future, to put it mildly.
Viking Therapeutics (VKTX) shares rose more than 10% Wednesday after J.P. Morgan analysts initiated coverage of the company with an "overweight" rating and a price target of $80 per share, calling the company's oral weight-loss drug currently in clinical trials "underappreciated.
JPMorgan analyst Hardik Parikh initiated coverage on Viking Therapeutics Inc VKTX with an Overweight rating and a December 2025 price target of $80, which implies a potential 45% upside from its current price of $54.65.
Viking Therapeutics, Inc. (VKTX) concluded the recent trading session at $54.78, signifying a +1.2% move from its prior day's close.
Viking Therapeutics is developing a weight management treatment candidate that is similar to Eli Lilly's Zepbound. Analysts' estimates for Viking Therapeutics point to huge gains for the stock over the next 12 months.
This stock already beat Nvidia's performance in the first half. This player operates in a market that could reach $100 billion by the end of the decade.
Viking Therapeutics, Inc. (VKTX) reachead $58.10 at the closing of the latest trading day, reflecting a -0.5% change compared to its last close.
VKTX stock continues to generate phenomenal returns, driven by encouraging development of its obesity and NASH drugs, which are nearing late-stage development.
Viking Therapeutics is developing medicines to fight obesity -- a hot area now. Its lead program appears to work better than blockbuster drugs made by others.
VKTX's shares fell after rival Eli Lilly announced that it is launching cheaper versions of Zepbound to strengthen its presence in the obesity market.
A very competitive peer has launched a discount offering in a white-hot corner of the pharmaceutical market. Viking is still in development with its own drug in the category.
The recommendations of Wall Street analysts are often relied on by investors when deciding whether to buy, sell, or hold a stock. Media reports about these brokerage-firm-employed (or sell-side) analysts changing their ratings often affect a stock's price.