Quick Summary:
- Goldman Sachs initiates coverage on Viking Therapeutics (VKTX, Financial) with a Neutral rating.
- Challenges in the weight loss drug market might impact VK2735 despite positive trial data.
- Analysts predict significant upside potential, with an average price target much higher than current levels.
Goldman Sachs has initiated coverage of Viking Therapeutics (VKTX) by assigning a Neutral rating and setting a price target of $30 per share. The firm highlights the fierce competition in the weight loss drug market as a potential hurdle for its lead drug, VK2735. Despite encouraging Phase 2 clinical trials, ongoing challenges such as price erosion and payer restrictions continue to loom.
Wall Street Analysts Forecast
Analyst projections suggest significant upside potential for Viking Therapeutics Inc (VKTX, Financial). According to the one-year price targets provided by 14 industry analysts, VKTX's average target price is $95.43, ranging from a high estimate of $164.00 to a low of $30.00. This average target indicates a substantial upside of 350.35% from the current price point of $21.19. Investors can access more in-depth estimates on the Viking Therapeutics Inc (VKTX) Forecast page.
The consensus among 18 brokerage firms further underscores the positive sentiment around VKTX, with an average recommendation of 1.7, suggesting an "Outperform" status. The rating scale runs from 1 to 5, where 1 reflects a Strong Buy and 5 indicates a Sell, positioning VKTX closer to optimistic expectations on this scale.
