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VKTX Stock Rises 34% in Three Months: Here's What You Should Know
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Key Takeaways
VKTX shares rose 34% in three months on momentum around its investigational obesity drug VK2735.
Viking hit fast enrollment milestones for phase III VANQUISH-1 and phase II VENTURE-Oral studies.
Viking is also enrolling the VANQUISH-2 study, targeting completion of recruitment in early 2026.
Shares of Viking Therapeutics (VKTX - Free Report) have surged 34% in the past three months, primarily driven by positive investor expectations around its investigational obesity drug, VK2735.
Last month, Viking announced that it had completed enrolment in the phase III VANQUISH-1 study, which is evaluating the subcutaneous (SC) formulation of VK2735 in obese or overweight adults who have at least one weight-related co-morbid condition. This marks a significant milestone for the company since the study initiation was declared in June. The study recruited about 4,650 patients, surpassing the initial target of 4,500 patients.
This marks the second time this year that Viking has completed a recruitment milestone in record time. During the first quarter, the company completed enrollment in the phase II VENTURE-Oral Dosing study that evaluated an oral formulation of VK2735. This study, which was announced in January, reached full enrollment by March.
Such rapid enrollments suggest strong demand and interest in VK2735. This aligns with the market expansion for weight loss drugs fueled by the success of Eli Lilly’s (LLY - Free Report) Zepbound and Novo Nordisk’s (NVO - Free Report) Wegovy. The quick recruitment also indicates high patient and physician enthusiasm, which could convert into significant commercial potential if the drug proves effective.
Viking Therapeutics is currently enrolling patients in the phase III VANQUISH-2 study, which was initiated alongside the VANQUISH-1 study. This study will enroll nearly 1,100 obese or overweight adults with type II diabetes. VKTX expects to complete recruitment for the VANQUISH-2 study in early 2026.
VKTX stock has also benefited from growing optimism in the obesity drug space, as many investors view the company as a potential M&A target post the Metsera acquisition by Pfizer (PFE - Free Report) . Pfizer recently completed the $10 billion acquisition of obesity drug developer Metsera after a heated bidding war against Novo Nordisk. This transaction brought Pfizer back into the lucrative obesity space by adding the latter’s four novel clinical-stage incretin and amylin programs, which have the potential to generate billions of dollars in peak sales.
Competition Intensifies in the Obesity Space
The obesity market has garnered much interest lately, as both Lilly and Novo Nordisk dominate this space with their respective obesity drugs. According to research conducted by Goldman Sachs, the obesity market in the United States is expected to reach $100 billion by 2030. This is evident from the fact that LLY and NVO have not only optimized their production capacities but are also developing more potent and convenient GLP-1-based candidates in their clinical pipeline.
NVO and LLY are racing to introduce oral weight-loss pills. Novo Nordisk has already submitted a regulatory filing with the FDA seeking approval for an oral version of Wegovy, with a final decision expected before this year’s end. NVO is also developing several next-generation candidates in its obesity pipeline, including CagriSema (a combination of semaglutide and cagrilintide) and an oral pill, amycretin (a dual GLP-1 and amylin receptor agonist).
Lilly is investing broadly in obesity and has several new molecules currently in clinical development, with a range of oral and injectable medications using different mechanisms of action. This includes two late-stage candidates, orforglipron, a once-daily oral GLP-1 small molecule, and retatrutide, a GGG tri-agonist, along with some mid-stage candidates, bimagrumab, eloralintide and mazdutide. LLY plans to file regulatory applications for orforglipron in obesity later this year, setting up the timeline for a potential launch next year.
VKTX’s Price Performance, Valuation and Estimates
Shares of Viking Therapeutics have underperformed the industry year to date, as seen in the chart below.
Image Source: Zacks Investment Research
From a valuation standpoint, VKTX is trading at a premium to the industry. Going by the price-to-book value (P/B) ratio, the company’s shares currently trade at 5.84 times trailing book value, higher than 3.60 for the industry. The stock is also trading above its five-year mean of 3.58.
Image Source: Zacks Investment Research
Estimates for Viking’s loss per share for 2025 and 2026 have remained consistent in the past 30 days.
Image: Bigstock
VKTX Stock Rises 34% in Three Months: Here's What You Should Know
Key Takeaways
Shares of Viking Therapeutics (VKTX - Free Report) have surged 34% in the past three months, primarily driven by positive investor expectations around its investigational obesity drug, VK2735.
Last month, Viking announced that it had completed enrolment in the phase III VANQUISH-1 study, which is evaluating the subcutaneous (SC) formulation of VK2735 in obese or overweight adults who have at least one weight-related co-morbid condition. This marks a significant milestone for the company since the study initiation was declared in June. The study recruited about 4,650 patients, surpassing the initial target of 4,500 patients.
This marks the second time this year that Viking has completed a recruitment milestone in record time. During the first quarter, the company completed enrollment in the phase II VENTURE-Oral Dosing study that evaluated an oral formulation of VK2735. This study, which was announced in January, reached full enrollment by March.
Such rapid enrollments suggest strong demand and interest in VK2735. This aligns with the market expansion for weight loss drugs fueled by the success of Eli Lilly’s (LLY - Free Report) Zepbound and Novo Nordisk’s (NVO - Free Report) Wegovy. The quick recruitment also indicates high patient and physician enthusiasm, which could convert into significant commercial potential if the drug proves effective.
Viking Therapeutics is currently enrolling patients in the phase III VANQUISH-2 study, which was initiated alongside the VANQUISH-1 study. This study will enroll nearly 1,100 obese or overweight adults with type II diabetes. VKTX expects to complete recruitment for the VANQUISH-2 study in early 2026.
VKTX stock has also benefited from growing optimism in the obesity drug space, as many investors view the company as a potential M&A target post the Metsera acquisition by Pfizer (PFE - Free Report) . Pfizer recently completed the $10 billion acquisition of obesity drug developer Metsera after a heated bidding war against Novo Nordisk. This transaction brought Pfizer back into the lucrative obesity space by adding the latter’s four novel clinical-stage incretin and amylin programs, which have the potential to generate billions of dollars in peak sales.
Competition Intensifies in the Obesity Space
The obesity market has garnered much interest lately, as both Lilly and Novo Nordisk dominate this space with their respective obesity drugs. According to research conducted by Goldman Sachs, the obesity market in the United States is expected to reach $100 billion by 2030. This is evident from the fact that LLY and NVO have not only optimized their production capacities but are also developing more potent and convenient GLP-1-based candidates in their clinical pipeline.
NVO and LLY are racing to introduce oral weight-loss pills. Novo Nordisk has already submitted a regulatory filing with the FDA seeking approval for an oral version of Wegovy, with a final decision expected before this year’s end. NVO is also developing several next-generation candidates in its obesity pipeline, including CagriSema (a combination of semaglutide and cagrilintide) and an oral pill, amycretin (a dual GLP-1 and amylin receptor agonist).
Lilly is investing broadly in obesity and has several new molecules currently in clinical development, with a range of oral and injectable medications using different mechanisms of action. This includes two late-stage candidates, orforglipron, a once-daily oral GLP-1 small molecule, and retatrutide, a GGG tri-agonist, along with some mid-stage candidates, bimagrumab, eloralintide and mazdutide. LLY plans to file regulatory applications for orforglipron in obesity later this year, setting up the timeline for a potential launch next year.
VKTX’s Price Performance, Valuation and Estimates
Shares of Viking Therapeutics have underperformed the industry year to date, as seen in the chart below.
Image Source: Zacks Investment Research
From a valuation standpoint, VKTX is trading at a premium to the industry. Going by the price-to-book value (P/B) ratio, the company’s shares currently trade at 5.84 times trailing book value, higher than 3.60 for the industry. The stock is also trading above its five-year mean of 3.58.
Image Source: Zacks Investment Research
Estimates for Viking’s loss per share for 2025 and 2026 have remained consistent in the past 30 days.
Image Source: Zacks Investment Research
Viking Therapeutics currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.