Analyst Confidence Soars for Viking Therapeutics’ Weight-Loss Drug Pipeline

Viking Therapeutics US92686J1060

Wall Street analysts are expressing significant optimism regarding the future of Viking Therapeutics, with several firms highlighting substantial upside potential for the stock. The bullish sentiment is primarily driven by the company's obesity treatment candidate, VK2735, and recent supportive data from a major competitor in the metabolic health space.

The consensus view on Viking is overwhelmingly positive. As of December 19, all 13 analysts covering the stock maintain a "Buy" or equivalent rating. The average price target stands at $97.27 per share, implying a theoretical upside of over 176% from recent trading levels in the mid-$30 range.

Several firms have issued particularly aggressive targets. On December 18, H.C. Wainwright analyst Joseph Pantginis reaffirmed a Buy rating and set a $102 price target, suggesting nearly 190% appreciation potential. His assessment centers on the VK2735 program, a dual GLP-1/GIP agonist being developed in both injectable and oral formulations.

Other notable analyst positions include:
* BTIG Research: Buy, $125 target
* Cantor Fitzgerald: $105 target
* Morgan Stanley: Overweight, $102 target
* B. Riley: Strong Buy recommendation
* Average Consensus Target: $87.14

Competitive Data Validates Strategic Focus

A key catalyst for the positive outlook emerged from Eli Lilly's Phase 3 ATTAIN-MAINTAIN study data. The results demonstrated that oral GLP-1 therapies can effectively maintain weight loss previously achieved through injections.

This finding directly bolsters Viking's strategy of developing an oral tablet version of VK2735 for chronic weight management. It suggests a viable long-term treatment pathway where patients could transition from injectable to oral medication without losing efficacy. For Viking, this reduces the perceived development risk for its oral obesity program and may heighten interest from institutional investors.

Clinical Development Accelerates

Viking has reported accelerated progress in its clinical programs. In November 2025, the company announced it completed patient recruitment for the Phase 3 VANQUISH-1 trial ahead of schedule. This 78-week study, evaluating subcutaneously administered VK2735 in obese adults, even exceeded its original enrollment target, indicating strong interest from trial sites and participants.

This aggressive development pace comes at a financial cost. For the third quarter of 2025, Viking reported a net loss of $90.8 million, or $0.81 per share. This compares to a loss of $24.9 million, or $0.22 per share, in the same period a year prior. The increase is largely attributable to research and development expenses, which surged from $22.8 million to $90 million, nearly quadrupling year-over-year.

Notable Trading Activity and Ownership Trends

Unusual options trading activity was observed on December 22. A total of 11,630 contracts changed hands, equivalent to approximately 1.2 million underlying shares. This volume represents about 45.6% of the stock's average daily trading volume over the prior four weeks. Particularly notable were purchases of call options with a $120 strike price expiring in January 2027, indicating some traders are positioning for a significantly higher share price in the coming years.

Recent SEC filings reveal mixed activity among institutional holders. Profit Investment Management LLC reduced its position by 34.5% in Q3 2025, selling 40,298 shares. It now holds 76,554 shares valued at roughly $2.01 million, representing 2.5% of its portfolio and ranking as its eleventh-largest holding.

Insider transactions over the past 90 days have involved notable sales:
* CFO Greg Zante sold 6,185 shares at $35.00 each.
* Director Charles A. Rowland Jr. sold 60,000 shares at $35.57 each.
* In total, 111,359 shares worth approximately $3.93 million were sold by insiders.
* The current insider ownership stake is 4.10%.

These transactions are viewed as profit-taking following the stock's advance, without indicating a fundamental shift in management's commitment.

Valuation and Market Profile

Viking shares currently trade in the mid-$30s, giving the company a market capitalization of approximately $3.98 billion. Over the past twelve months, the stock has traded between $18.92 and $45.00. With a beta of 0.65, it exhibits less volatility than the broader market. Institutional investors hold about 76.03% of the outstanding shares.

The overall picture is clear: Viking Therapeutics is in a period of heavy investment and clinical development, yet it enjoys strong analyst support, with VK2735 positioned as the central value driver for the foreseeable future.