Viking Therapeutics price target raised to $31 from $28 at H.C. Wainwright

H.C. Wainwright analyst Joseph Pantginis raised his price target for Viking Therapeutics to $31 after the company and investigators presented updated VK5211 data in an oral plenary presentation at the American Society of Bone and Mineral Research. The key takeaways from the VK5211 Phase 2 data in hip fracture patients include: VK5211 produces significant muscle growth in hip fracture patients, VK5211-treated patients experienced overall weight gain, the six-minute walk test demonstrated a trend favoring the treatment arms and the tolerability profile in elderly patients was encouraging with no treatment-emergent adverse events, Pantginis tells investors in a research note. The analyst keeps a Buy rating on Viking Therapeutics.

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