Viking gains ground as Novo Nordisk stumbles, says H.C. Wainwright

Novo Nordisk (NVO) on Friday announced 68-week efficacy and safety data from its REDEFINE 1 study, a Phase 3 trial evaluating once-weekly subcutaneous CagriSema vs. cagrilintide monotherapy, semaglutide monotherapy, and placebo in 3,417 adults with obesity or overweight with one or more comorbidities and without type 2 diabetes, and while the trial met its primary endpoint, demonstrating statistically significant weight loss with CagriSema compared to placebo, CagriSema achieved a weight loss of 22.7%, falling short of the anticipated 25%+ weight loss expected by both Novo and analysts, H.C. Wainwright tells investors in a research note. The news has positive impacted Viking (VKTX) shares, and H.C. Wainwright says Viking’s ability to consistently achieve competitive results against Big Pharma highlights its potential as a significant player in the weight-loss drug development landscape. The company is well-positioned to sustain momentum and further solidify its standing in the rapidly evolving weight-loss market, the firm adds. H.C. Wainwright has a Buy rating and $102 price target on Viking shares.