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JPMorgan thinks Viking Therapeutics could possibly be the subsequent huge identify within the GLP-1 increase. The agency initiated protection of the biopharmaceutical firm with an obese score and a worth goal of $80 per share. JPMorgan’s forecast implies greater than 46% upside from Tuesday’s $54.65 shut. Viking Therapeutics is within the technique of advancing its weight problems drug VK-2735 , which might be a part of the likes and rival peer GLP-1 medicine from Novo Nordisk and Eli Lilly , by medical trials. In July, Viking mentioned an injectable model of the drug would enter a section 3 trial, whereas a section 2 examine of an oral model is about to start. Buyers are awaiting extra particulars in regards to the oral model, anticipated in early November, as a attainable catalyst for the inventory. Shares have superior greater than 204% in 2024. VKTX YTD mountain Viking Therapeutics inventory. “Given investor sentiment on weight problems belongings, we count on shares to maneuver up considerably on the again of this dataset,” analyst Hardik Parikh wrote in a word Wednesday. “We predict this profile ought to give VKTX a task out there regardless of important long-term obstacles (mfg necessities, intense competitors) for its oral and much more for the subQ [subcutaneous] model.” Parikh expects Viking’s outcomes to point out that sufferers are capable of tolerate the drug higher than current medicine comparable to Novo’s Wegovy and Eli Lilly’s Zepbound. Some sufferers who take these in style weight problems medicine endure nausea and gastrointensinal results that drive them to cease therapy. The medicine, which mimic incretins, or gut-derived hormones, decelerate digestion and regulate blood sugar ranges, making sufferers really feel full longer. Each are administered through a weekly injection, however many sufferers would favor to take a capsule. Oral medicine additionally are usually cheaper and simpler to fabricate. JPMorgan forecasts the class may attain annual gross sales of roughly $120 billion by 2030, with oral gross sales accounting for about $30 billion by 2035. The analyst mentioned VK-2735’s greater dose of as much as 100 milligrams may present “barely higher efficacy than opponents with nonetheless an excellent tolerability profile.”
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2024-09-11 14:48:00
Source :https://www.cnbc.com/2024/09/11/jpmorgan-says-this-new-player-in-the-glp-1-market-could-rally-45percent.html
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