Why Investors Plowed Into Viking Therapeutics Stock Today
For the second day in a row, a pundit's take on Viking Therapeutics (NASDAQ: VKTX) helped push the biotech's share price higher. It was this rather than inherent news from the company that added more than 3% to said price, a gain that handily beat the S 500 index's 0.8% increase.
The latest analyst to weigh in on Viking's prospects was Morgan Stanley's Michael Ulz, who early Thursday morning published a new research note on the now-prominent biotech. Ulz is unquestionably a Viking bull, as his recommendation on the stock is overweight (read: buy) at a relatively high $105 per-share price target -- 67% above the stock's latest closing price.
These days, investors are eager for news of the company's VK2735 investigational obesity drug. If successful, this treatment should compete quite effectively with similar medications commercialized by Denmark-based Novo Nordisk (NYSE: NVO) and American company Eli Lilly (NYSE: LLY), not least because it is administered orally. That makes it much easier to take than Novo Nordisk's Wegovy and Eli Lilly's Zepbound, since both work by injection.
Source Fool.com
Viking Therapeutics Inc Stock
With 6 Buy predictions and only 1 Sell predictions the community sentiment for the stock is positive.
As a result the target price of 110 € shows a very positive potential of 82.6% compared to the current price of 60.24 € for Viking Therapeutics Inc.
