Viking Therapeutic (VKTX) PT Lowered to $106 at Canaccord

Canaccord analyst Edward Nash lowered the price target on Viking Therapeutic (NASDAQ: VKTX) to $106.00 (from $114.00) while maintaining a Buy rating.

The analyst commented: "This morning, we are publishing a note on evolving pricing dynamics in the obesity space. In that note, we detail an ongoing shift away from high WAC pricing characteristic of the biotech industry towards lower prices dominated by cash pay programs and MFN pricing agreements with the White House. We believe reduced pricing is largely offset by a growing overall market size, leaving room for continued revenue growth. This note serves to provide notice of updates to our model for Viking Therapeutics (VKTX) which incorporate these ideas. We take this opportunity to reiterate our BUY rating and update our 12-month PT from $114 to $106."

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