Here is Why H.C. Wainwright Sees Immense Upside for Viking Therapeutics (VKTX)

Viking Therapeutics (NASDAQ:VKTX) is one of the most promising mid-cap healthcare stocks under $50.

On December 18, H.C. Wainwright analyst Joseph Pantginis reaffirmed his Buy rating on Viking Therapeutics (NASDAQ:VKTX). The analyst has forecasted a huge upside potential of almost 190% from the prevailing range, with a price target of $102 a share.

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Pantginis maintains a long-term view based on the company’s differentiated VK2735 oral and injectable formulations. This view comes after some positive outcomes of the Phase 3 ATTAIN-MAINTAIN study, based on the same molecule, conducted by their competitor Eli Lilly. The results indicate that the oral therapies are equally effective in preserving the weight loss, which previously was associated with injections. This would facilitate a highly smooth transition from injections to oral therapies for chronic treatments, without much risk.

These results from Eli Lilly’s study validate the ongoing efforts on Viking’s oral obesity program. Apart from curtailing the commercial risks associated with the program, they will also increase investor interest in the company.

Consensus estimates as of December 19 also indicate more than 176% upside potential for Viking Therapeutics (NASDAQ:VKTX). The forecasted target price for the stock is $97.27, with all 13 analysts assigning Buy ratings.

Viking Therapeutics (NASDAQ:VKTX) specializes in therapies for metabolic and endocrine disorders. As a clinical-stage biopharmaceutical company, they direct their research efforts towards small-molecule drugs to cure obesity, fatty liver, and diabetes.

While we acknowledge the risk and potential of VKTX as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than VKTX and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.