Truist assumed coverage of Viking Therapeutics with a Buy rating with a price target of $83, up from $75. The firm is positive on the stock as a differentiated player in a heavily saturated and highly competitive obesity landscape, tackling two key challenges associated with contemporary and newer therapies - time to efficacy in reaching 14.7% in 13 weeks without plateau, and long-term adherence - leveraging both subcutaneous and oral formulations for continuity of care, versatile dosing regimens and flexible titration for greater personalization and to mitigate gastrointestinal side effects, the analyst tells investors in a research note.
