In a report released today, Joseph Pantginis from H.C. Wainwright reiterated a Buy rating on Viking Therapeutics (VKTX), with a price target of $31. The company’s shares opened today at $11.
“Valuation and risks to price target achievement. We reiterate our Buy rating and $31 price target. Our peak sales estimates for VK2806 and VK5211 are based on our U.S. projections, and believe overall that peak sales could be conservative because of the size of the addressable markets, the continuing unmet medical need, and no projections for ex-U.S. sales currently. Our price target is based on our clinical net present value (NPV) model, which allows us to flex multiple assumptions affecting a drug’s potential commercial profile.”
According to TipRanks.com, Pantginis is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -9.4% and a 33.2% success rate. Pantginis covers the Healthcare sector, focusing on stocks such as Applied Genetic Technologies, Iovance Biotherapeutics Inc, and Checkpoint Therapeutics Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Viking Therapeutics with a $24 average price target, implying an 118.2% upside from current levels. In a report issued on March 27, Maxim Group also assigned a Buy rating to the stock with a $20 price target.
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The company has a one-year high of $24 and a one-year low of $3.69. Currently, Viking Therapeutics has an average volume of 3.28M.
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Viking Therapeutics, Inc. is a clinical-stage biopharmaceutical company, which engages in the development of novel therapies for patients suffering from metabolic and endocrine disorders. The company’s clinical program VK5211, treats patients recovering from non-elective hip fracture surgery. It also specializes in development of VK2809 and VK0214.