H.C. Wainwright Reiterates Buy Rating on Viking Therapeutic (VKTX)

H.C. Wainwright analyst Joseph Pantginis reiterated a Buy rating and $90.00 price target on Viking Therapeutic (NASDAQ: VKTX).

The analyst commented: "Viking announced positive data on October 9 from its Phase 1b clinical trial of VK0214 in X-linked adrenoleukodystrophy (X-ALD). Recall, the study was a multi-center, randomized, double-blind, placebo-controlled trial conducted in adult male patients with the adrenomyeloneuropathy (AMN) form of X-ALD. It included three cohorts: placebo, 20 mg VK0214 daily, and 40 mg VK0214 daily. Key findings: 1) Once-daily VK0214 over a 28-day period was found to be safe and well-tolerated. Treatment-emergent adverse events were generally mild to moderate. Gastrointestinal adverse events were more frequent in the placebo group (33%) compared to VK0214-treated patients (11%). Additionally, one patient in the placebo group experienced a wrist fracture, categorized as a severe adverse event; 2) An exploratory assessment of plasma levels of very long-chain fatty acids (VLCFAs), a key biomarker in X-ALD, showed significant reductions at both VK0214 doses compared to placebo. Notably, patients treated with VK0214 exhibited a reduction in mean plasma levels of 26 carbon lysophosphatidyl choline (C26:0-LPC), a diagnostic biomarker for X-ALD; and 3) Further evaluation of other plasma lipids, including low-density lipoprotein cholesterol (LDL-C), apolipoprotein B (ApoB), and lipoprotein (a) [Lp(a)], revealed significant reductions in these lipids after the 28-day treatment course compared to placebo. These data are highly encouraging and provide a solid foundation for Viking to continue advancing its VK0214 program in X-ALD. The positive safety profile, along with significant reductions in both VLCFAs and lipid markers, highlights the potential of VK0214. However, Viking has not yet disclosed timelines for the next steps in the program. We believe these findings further reinforce the thesis that Viking possesses a robust portfolio of clinical assets, positioning the company favorably for potential acquisition, partnership, or licensing opportunities. Reiterate Buy rating and $90 PT."

For an analyst ratings summary and ratings history on Viking Therapeutic click here. For more ratings news on Viking Therapeutic click here.

Shares of Viking Therapeutic closed at $62.64 yesterday.

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