Why Viking Therapeutics Stock Popped Today
Viking Therapeutics (NASDAQ: VKTX) stock inched 2.3% higher through 10:20 a.m. ET Monday, and for a most curious reason.
Truist Securities analyst Joon Lee just lowered his price target on the unprofitable biotech stock. Now why would investors think this is good news for Viking?
The theory goes like this: Lee cut his price target on Viking from $95 to $75 a share, warning the company faces "intensifying competition in the obesity space" (as The Fly reports today). Yet even so, Lee says that 2025 will be a "year of execution" for Viking as it begins phase 3 clinical trials on its new GLP-1 obesity drug, VK2735.
Source Fool.com
Viking Therapeutics Inc Stock
€26.21
-0.950%
Currently there is a rather positive sentiment for Viking Therapeutics Inc with 5 Buy predictions and 0 Sell predictions.
As a result the target price of 45 € shows a very positive potential of 71.72% compared to the current price of 26.21 € for Viking Therapeutics Inc.
