William Blair sees ‘market disconnect,’ starts Viking at Outperform. William Blair analyst Andy Hsieh initiated Viking Therapeutics with an Outperform rating saying the company has a differentiated clinical pipeline focusing on modulating hormone receptors in a tissue-specific and receptor-selective fashion. The analyst believes VK2809 is uniquely positioned for treating fatty liver disease or nonalcoholic steatohepatitis. Further, VK5211 is a non-steroidal, tissue-specific selective androgen receptor modulator that has recently demonstrated the ability to boost lean body mass among patients recovering from hip fracture in a positive Phase II study, the analyst adds. Hsieh sees an “appreciable market disconnect” given the company’s “broad” pipeline. He does not believe the potential of VK2809 and VK5211 is fairly reflected in the stock.
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