Viking Therapeutics: Analysts Reiterate Buy Rating Despite Market Volatility
BTIG reaffirms Buy rating on Viking Therapeutics (NASDAQ: VKTX) with $125 price target, anticipating positive catalysts in the second half of 2024. The upcoming second quarter earnings call and new clinical data at Obesity Week are expected to provide insights into the company's drug development progress.
Key Highlights:
- Viking's DACRA programs show promising early data
- Phase 2b VOYAGE study reports positive results for NASH treatment
- Morgan Stanley initiates Overweight rating with $105 price target
- Viking strengthens financial position with $630 million raised
InvestingPro Insights:
- Viking's financial health and market performance analyzed in real-time
- Challenges in achieving profitability highlighted by negative P/E ratios
- Strong liquidity position noted despite revised earnings expectations
- Coupon code PRONEWS24 offers up to 10% off InvestingPro subscription
In summary, despite market fluctuations, Viking Therapeutics shows promise with its innovative drug development programs and strong financial position. Investors are advised to stay informed with real-time data and analysis to make informed decisions about this potential growth stock.