Is Viking Therapeutics Stock Going to $100?
Written by Adria Cimino for The Motley Fool -> Viking is developing candidates in the high-growth weight loss drug market. The company’s lead candidate is involved in late-stage studies. Viking Therapeutics (NASDAQ: VKTX) has seen its stock stumble in recent times -- for examp
Viking is developing candidates in the high-growth weight loss drug market.
The company’s lead candidate is involved in late-stage studies.
Viking Therapeutics (NASDAQ: VKTX) has seen its stock stumble in recent times -- for example, it's slipped over the past year. But over five years, shares of the biotech company have climbed more than 300%. This is amid excitement about the company's potential in a market that's on track to reach nearly $100 billion in just a few years. I'm talking about the weight loss drug market.
Viking hasn't yet commercialized a drug, but it has a promising candidate in late-stage trials, so it may be very close to the finish line in this valuable market. All of this means the biotech, which specializes in developing candidates for metabolic and endocrine disease, might generate revenue -- and at significant levels -- in just a few years.
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Though investors haven't rushed into the stock in recent months, this could soon change. Viking has catalysts just ahead: The company expects to report data from a maintenance dosing study of its weight loss drug candidate in the third quarter, and it aims to launch a phase 3 trial for the oral version of its candidate in the fourth quarter.
Considering this, is Viking stock going to $100? Let's find out.
We'll start with some details about Viking's lead candidate, VK2735. This is an investigational dual GLP-1/GIP receptor agonist , much like the popular drugs sold by market leaders Eli Lilly and Novo Nordisk . These drugs act on hormonal pathways involved in digestion, and as a result, they help control appetite and blood sugar levels. The Lilly and Novo drugs have become blockbusters, and demand has been consistently high for these products -- this is thanks to their efficacy, safety, and ease of use.
