William Blair analyst Andy Hsieh has maintained their bullish stance on VKTX stock, giving a Buy rating on March 12.
Andy Hsieh has given his Buy rating due to a combination of factors including the rapid enrollment in Viking Therapeutics’ Phase II VENTURE-Oral trial for VK2735, which indicates strong interest from both clinicians and patients. The trial, which targets obesity or overweight conditions with comorbidities, has successfully enrolled approximately 280 patients, aligning with the company’s guidance. Results from this trial are expected in the second half of the year, which could provide further insights into the drug’s efficacy.
Additionally, the anticipated initiation of the Phase III trial for the subcutaneous formulation of VK2735 in the upcoming quarter, along with the potential entry of the amylin program into clinical testing later this year, adds to the positive outlook. Hsieh also notes the potential for positive implications from the differentiation of Mounjaro in reducing cardiovascular events, which could validate the benefits of incorporating GIP agonism in treatments. Given the recent decline in Viking’s stock price, Hsieh believes there is a favorable risk/reward profile, suggesting significant upside potential.
Hsieh covers the Healthcare sector, focusing on stocks such as Altimmune, Corbus Pharmaceuticals, and Mersana Therapeutics. According to TipRanks, Hsieh has an average return of 5.5% and a 42.01% success rate on recommended stocks.