Stifel Nicolaus analyst Derek Archila maintained a Buy rating on Viking Therapeutics (VKTX) today and set a price target of $14. The company’s shares opened today at $8, close to its 52-week low of $6.97.
Archila observed:
“We believe VK2809’s IND will be accepted and investor concerns around its tolerability profile are unwarranted. We see a favorable risk/reward at current levels (+80%/-50%) and after our review of VK2809’s pre-clinical studies, Phase 1/2a data and previous FDA feedback on the tolerability of VKTX’s Hep-Direct platform for its previous owner (Metabasis), we are confident that the FDA will allow VKTX to initiate a Phase 2b in biopsy proven NASH patients. Clearly investors remain skeptical given the ~40% short interest in the stock making the IND update in the 2H19 a major clearing event for the company.”
According to TipRanks.com, Archila is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -8.5% and a 33.6% success rate. Archila covers the Healthcare sector, focusing on stocks such as Madrigal Pharmaceuticals Inc, Rhythm Pharmaceuticals Inc, and Principia Biopharma Inc.
Viking Therapeutics has an analyst consensus of Strong Buy, with a price target consensus of $24.40.
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Based on Viking Therapeutics’ latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $4.92 million. In comparison, last year the company had a GAAP net loss of $3.55 million.
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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.
