Viking Therapeutics Gains Momentum Amid Acquisition Chatter

Viking Therapeutics US92686J1060

Shares of Viking Therapeutics are capturing significant investor attention, currently trading around $33.52. While the biotech firm faces competition from industry titans like Novo Nordisk and Eli Lilly, a combination of fresh clinical data and mounting takeover speculation is fueling positive sentiment. The central question for the market is whether the recent progress with the promising drug candidate VK2735 justifies the substantial upside potential that analysts are projecting.

The company's clinical development pace is a key focal point. Viking recently completed patient enrollment ahead of schedule for its 78-week Phase 3 VANQUISH-1 obesity study, citing strong interest. Furthermore, the company anticipates concluding enrollment for its VANQUISH-2 diabetes trial within the first quarter of 2026. This accelerated timeline suggests that pivotal data could be available to the market sooner than initially expected.

These operational milestones followed a series of significant achievements in January 2026, which bolstered confidence in Viking's pipeline. The publication of Phase 2 data for VK2735 in the journal Obesity provided scientific validation, demonstrating weight loss of up to 14.7% after 13 weeks of treatment.

Strategic Pivot for Oral Therapy

The oral formulation of VK2735 introduced volatility last year when a 20% discontinuation rate in the test group raised tolerability concerns. However, a deeper analysis of the trial data provides important context. The study employed an aggressive dose-escalation protocol, and notably, the placebo group also reported an unusually high discontinuation rate of 13%.

In response, Viking has adapted its strategy. The oral tablet is now being tested as a maintenance therapy, intended for use after initial weight reduction is achieved via injection. This approach may improve patient tolerability while still offering the convenience of an oral dosing regimen.

Commercial Preparations and Analyst Confidence

Viking is laying the groundwork for a future commercial launch. The appointment of Neil Aubuchon as Chief Commercial Officer signals the company's transition from a pure research entity to a potential market contender.

Market experts largely maintain "Buy" ratings on the equity, with price targets averaging between $87 and $93 per share—a significant premium to the current trading level. Canaccord Genuity recently reaffirmed a target of $107. This optimism is partly fueled by sector consolidation, exemplified by Pfizer's acquisition of Metsera, which has intensified takeover speculation. With a market capitalization of approximately $3.8 billion and an estimated net cash position of $587 million, Viking is viewed as an attractive target for larger pharmaceutical companies seeking to expand their metabolic disease portfolios.

The next major catalyst for the stock is expected on February 3, 2026, when Viking Therapeutics reports its quarterly earnings. This update will offer further insight into the company's financial resources available to fund its ongoing large-scale clinical trials.