JPMorgan says this new player in the GLP-1 market could rally 45%

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Viking Therapeutics Inc News

Stock Markets,Investment Strategy,Novo Nordisk A/S

This GLP-1 drug could emerge as the next big treatment and rival key competitors.

JPMorgan thinks Viking Therapeutics could be the next big name in the GLP-1 boom. The firm initiated coverage of the biopharmaceutical company with an overweight rating and a price target of $80 per share. JPMorgan's forecast implies more than 46% upside from Tuesday's $54.65 close. Viking Therapeutics is in the process of advancing its obesity drug VK-2735 , which would join the likes and rival peer GLP-1 drugs from Novo Nordisk and Eli Lilly , through clinical trials.

mountain Viking Therapeutics stock. "Given investor sentiment on obesity assets, we expect shares to move up substantially on the back of this dataset," analyst Hardik Parikh wrote in a note Wednesday. "We think this profile should give VKTX a role in the market despite significant long-term barriers for its oral and even more for the subQ version.

 

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