Oppenheimer Starts Viking Therapeutic (VKTX) at Outperform
Get Alerts VKTX Hot Sheet
Rating Summary:
13 Buy, 0 Hold, 0 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 11
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Oppenheimer analyst Jay Olson initiates coverage on Viking Therapeutic (NASDAQ: VKTX) with a Outperform rating and a price target of $12.00.
THe analyst comments "We initiate coverage of Viking Therapeutics, Inc. (VKTX) with an Outperform rating and $12 price target, based on our view that the company has a validated approach to nonalcoholic steatohepatitis (NASH) with an interesting MOA, promising early data, and low market cap relative to peers. VK2809 is the company’s lead asset in development for NASH. VK2809 is an orally-active β-selective thyroid hormone receptor (THR-β) agonist designed to address dysregulation of lipid metabolism. VKTX presented positive Ph2a data in 3Q18, and Ph2b biopsy-confirmed NASH trial is expected to initiate 2H19. We estimate VK2809 total WW peak unadjusted sales of $2.2B and risk-adjusted sales of $780M at a 35% probability of success. VKTX ended 1Q19 with ~$300M in cash and is funded through 2023, according to our estimates."
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 $8.23 yesterday.
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