Key Takeaways
- Cannacord has set a $114 price target for Viking Therapeutics, which implies 316% from today’s price.
- The rest of Wall Street is bullish too: the consensus target is $95, and even the lowest of 19 targets, $38, sits above the stock.
- Viking has no revenue yet and lost $128.0 million in the second quarter, so the call depends on VK2735 passing Phase 3.
- Canaccord’s target looks plausible but stretched. The next things to watch are the oral Phase 3 start this quarter and the third-quarter report.
Viking Therapeutics (VKTX) is trading at about $27.42 intraday today, more than 30% below its 52-week closing high of $42.13 on July 7.
Canaccord Genuity isn’t fazed. Yesterday, it held its Buy rating and $114 price target, which implies 316% upside from today’s prices.
What sank the stock
Shares slipped after Viking’s July 29 second-quarter report. Research and development spending nearly doubled to $115.8 million from $60.2 million a year earlier, and cash fell to $502 million from $706 million at the end of 2025. The next day, Viking filed to raise up to $500 million.
In September, it did. The stock soared 36% on Sept. 22 on VK2735’s maintenance data, which I wrote gives the drug a real compliance edge. Then Viking sold an upsized $500 million of stock and convertible notes at $35 a share, the low end of its range, and the stock was down 14% by midday on Sept. 24.
The slide kept going into October, below the $35 offering price.
Canaccord isn’t budging
Canaccord’s Edward Nash set that target on July 30, up from $107, and has held it through the raise and the slide. Morgan Stanley ($95), Truist ($85) and H.C. Wainwright ($102) kept Buy ratings this week too.
The consensus target sits at $95, and even the lowest of the 19 targets TIKR tracks, $38, is above today’s price…
Over the past year, the consensus edged up from $92 to $95, and Buy ratings rose to 13 from 10.
The catch is that Viking has no revenue yet. Fifteen analysts expect $162 million in fiscal 2028…
And nothing Viking has announced since July gives analysts a reason to cut it.
So is Canaccord right?
Viking lost $128.0 million in the second quarter, and nearly all of its value depends on VK2735 passing Phase 3.
I think Canaccord’s $114 is plausible but…let’s say aggressive. Every Street target is above the stock and Viking has just restocked its bank account, so the market is being too harsh on it. But a 316% gain takes Phase 3 results nobody has seen yet.
The next markers are the oral Phase 3 trials Viking expects to start this quarter and its third-quarter report. If those land cleanly, $114 starts to look a lot more reasonable.
So what is Viking Therapeutics stock actually worth?
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Disclaimer:
Please note that the articles on TIKR are not intended to serve as investment or financial advice from TIKR or our content team, nor are they recommendations to buy or sell any stocks. We create our content based on TIKR Terminal’s investment data and analysts’ estimates. Our analysis might not include recent company news or important updates. TIKR has no position in any of the stocks mentioned. Thank you for reading, and happy investing!
