On Wednesday, Stifel, a financial services firm, raised its price target for Viking Therapeutics (NASDAQ:VKTX) to $35 from the previous target of $30, while maintaining a Buy rating on the stock. The adjustment comes as Viking Therapeutics approaches a significant period of potential growth and development.
The firm's analyst expressed confidence in Viking Therapeutics' portfolio, emphasizing its potential appeal to companies seeking to enter the metabolic disease space. The analyst highlighted the company's promising products for obesity and NASH (non-alcoholic steatohepatitis), noting their competitive edge in terms of efficacy and tolerability.
Key opinion leaders (KOLs) in the field of obesity have stressed the importance of a drug's tolerability profile and dosing flexibility, sometimes valuing these factors over the speed of initial weight loss. In light of this, Stifel's focus will be on Viking's VK2735's overall profile to determine its competitiveness in the market.
Additionally, the heterogeneity of the NASH patient population requires a variety of mechanistic approaches. Stifel is particularly interested in Viking's VK2809 and its relation to the THRβ (thyroid hormone receptor beta) class of treatments. The firm believes that Viking Therapeutics' portfolio, especially considering these aspects, is notably strong.
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