Why Viking Therapeutics Stock Popped Again Today
Cantor Fitzgerald thinks the GLP-1 diet drug VK2735 will be a "multi-blockbuster" for Viking stock.
Shares of Viking Therapeutics (NASDAQ: VKTX) jumped 12.5% through 11:40 a.m. ET on Tuesday on further support from Wall Street analysts.
Viking stock inched higher Monday after Truist Securities analyst Joon Lee lowered his price target, while predicting the company will benefit from phase 3 clinical trial news on its new VK2735 weigh loss drug. Today, the shares are advancing by leaps and bounds on an even more positive endorsement from Cantor Fitzgerald's Steven Seedhouse, who says the stock is a buy, and predicts the $29 price will roughly quadruple to hit $104 within a year.
Seedhouse doesn't beat around the bush: "Our thesis is entirely focused on lead [injectable] drug, VK2735, a GLP-1/GIP dual agonist entering phase 3 development for general obesity."
