Viking Therapeutics Stock Could Soar 45% Ahead Of Key Weight Loss Drug Readout: JPMorgan
Portfolio Pulse from Surbhi Jain
JPMorgan analyst Hardik Parikh has initiated coverage on Viking Therapeutics (NASDAQ:VKTX) with an Overweight rating and a price target of $80, suggesting a 45% upside. The optimism is driven by Viking's obesity drug candidate, oral-2735, which shows promise in the GLP-1 market due to its efficacy and tolerability. The upcoming Phase 1 readout at Obesity Week in November 2024 is seen as a potential catalyst for the stock.
September 11, 2024 | 5:55 pm
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JPMorgan has initiated coverage on Viking Therapeutics with an Overweight rating and a price target of $80, indicating a 45% upside. The focus is on their obesity drug candidate, oral-2735, which could significantly impact the GLP-1 market. The upcoming Phase 1 readout at Obesity Week is a potential catalyst for the stock.
JPMorgan's Overweight rating and significant price target increase are based on the potential of oral-2735 in the obesity market. The upcoming Phase 1 data release is expected to be a major catalyst, potentially driving the stock price up by 30-60%. The analyst's confidence in the drug's efficacy and tolerability supports a positive short-term impact on VKTX's stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100