© Reuters.
On Thursday, Viking Therapeutics (NASDAQ:) received a favorable initiation of coverage from Jefferies, with a Buy rating and a price target set at $110.00. The biopharmaceutical company, which focuses on therapies for metabolic and endocrine disorders, has recently reported positive Phase 2 results for its subcutaneous drug VK2735, intended for obesity treatment.
Viking’s VK2735, a GLP-1/GIP agonist, demonstrated up to 13.1% placebo-adjusted weight loss at 13 weeks, outperforming competitors like Eli Lilly (NYSE:)’s tirzepatide. Jefferies anticipates the potential for approximately $12 billion in peak-adjusted sales for VK2735 in the obesity market. This projection is bolstered by significant interest from larger pharmaceutical companies in the metabolic sector.
The company is also progressing with VK2809, a treatment for metabolic-associated steatohepatitis…
