H.C. Wainwright Starts Viking Therapeutic (VKTX) at Buy

H.C. Wainwright initiated coverage on Viking Therapeutic (NASDAQ: VKTX) with a Buy rating and a price target of $6. The price target is based on 25x $0.88 EPS in 2023 discounted back at 25%.

Analyst Carol Ann Werther said, "Viking Therapeutics is unique in that it has potentially 6 product candidates with validated targets. Each target has multiple preclinical publications both by Ligand and by outside researchers. The key to potential success will be the lack of off target effects. Within the next 12 months we expect results from an animal model proof of concept data with VK0214 in X-ALD, VK2809 Phase 2 results in hypercholesterolemia/NASH, and VK5211 Phase 2 results in hip fracture. We have based our recommendation on two opportunities: VK5211 for hip fractures and VK0214 for X-ALD. We believe that Viking may chose to commercialize these billion dollar markets themselves."

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 $1.43 yesterday.

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