Viking Therapeutics price target raised to $125 from $122 at Raymond James

Raymond James analyst Steven Seedhouse raised the firm’s price target on Viking Therapeutics (VKTX) to $125 from $122 and keeps a Strong Buy rating on the shares. The firm notes that the two Phase 3 subQ VK2735 studies in obese and obese+T2DM patients are now expected to be initiated in the second quarter of 2025, the Phase 2 oral VK2735 Phase 2a study evaluating six dosing cohorts vs. placebo over 13 weeks is enrolling as planned with topline readout expected 2H25, and Viking added some additional details to a maintenance therapy study that will evaluate the potential for daily oral dosing and monthly subQ dosing after 4 weeks of rapid titration to high-dose subQ treatment, the analyst tells investors in a research note. These programs provide a comprehensive approach to treating a broad range of obesity patients, Raymond James says.