Viking Therapeutic (VKTX) Positive Early Data in X-ALD Adds New Future Catalyst - Raymond James
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Raymond James analyst Steve Seedhouse reiterated an Outperform rating and $12.00 price target on Viking Therapeutic (NASDAQ: VKTX) after the company reported topline data from a Phase 1 study evaluating oral thyroid hormone receptor beta (THR-β) agonist, VK0214.
VK0214 treatment resulted in statistically significant reductions in LDL cholesterol, triglycerides, and Apolipoprotein B (ApoB) after 14-days, beginning at doses as low as 10mg (dosing range: 5-100mg).
"In short, the Phase 1a data suggest the mechanism is potentially active in X-ALD, but X-ALD patient data will be a much more informative and useful indicator of efficacy, thus adding a new and interesting catalyst to Viking's otherwise NASH-focused calendar which is the bigger takeaway," the analyst commented.
Shares of Viking Therapeutic closed at $6.08 yesterday.
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