Viking Therapeutics, Inc. maintains a Hold rating at its current valuation of around $5 billion, reflecting balanced risks and rewards in the competitive GLP-1 drug sector. Novo Nordisk’s launch of an oral version of Wegovy has set a new commercial benchmark, boosting the potential value of Viking’s oral GLP-1 program. However, Viking’s injectable VK2735 faces tougher competition following Eli Lilly’s Retatrutide Phase III results, which show higher efficacy above 24%. The analyst awaits results from Viking’s upcoming oral maintenance study to better assess the drug’s tolerability and commercial prospects before considering an upgrade to a Buy rating.
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