Chart of Day: Viking Therapeutics (VKTX)
Keep an eye on Viking Therapeutics (VKTX).
After pulling back on a competitor’s obesity trial data, it appears the stock is bottoming out. Last trading at $67.10, we’d like to see it make another run to nearly $100.
Not only do analysts believe VKTX could be a buyout, Jefferies’ analysts just initiated a buy rating on the stock. The firm added that VKTX is “enjoying scarcity value in the obesity space as demand for more mature/de-risked assets outstrips supply,” as noted by Seeking Alpha.
“Jefferies has modeled potential peak adjusted sales for the company’s oral obesity drug candidate VK2735 at around $12B. It also noted palpable strategic interest in the metabolic space from big pharma,” they added.
Weakness in VKTX may be an opportunity.
Ian Cooper is an experienced trader who uses a combination of technical, fundamental, and news analysis to help individual investors grow their wealth. Ian’s Premium Options Strategies