Viking Therapeutics initiated with a Neutral at Goldman Sachs

Goldman Sachs analyst Richard Law initiated coverage of Viking Therapeutics (VKTX) with a Neutral rating and $30 price target The company’s lead asset, VK2735, is a dual GLP-1/GIP agonist being developed in subcutaneous and oral formulations for obesity, the analyst tells investors in a research note. The firm says that while the Phase 2 results suggest a “highly potent” and safe drug that can rival standards of care and next-generation therapies, its analyses of the commercial landscape reveal a “hyper competitive obesity market with high barriers to entry.”