After Novo Nordisk (NVO) reported results from its Phase 3b STEP UP trial, which showed that adults with obesity achieved a 20.7% weight loss over 72 weeks with once-weekly 7.2 mg semaglutide and lifestyle intervention, H.C. Wainwright notes that Novo shares dipped on the news, while those of Viking Therapeutics (VKTX) saw “modest gains.” The firm, which believes the data highlights the potential superiority of Viking’s dual GLP-1/GIP receptor agonist VK2735 over semaglutide, keeps a Buy rating and $102 price target on Viking shares, which are up 3% to $33.70 in morning trading.
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