Viking Therapeutics with positive study data – analysts see upside potential

Viking Therapeutics reported its second quarter 2026 financial results on July 29, 2026, and had $502 million in cash as of June 30, 2026. The US-based San Diego biotech company develops novel therapies for metabolic and endocrine disorders and is focused on its lead candidate VK2735, a dual GLP-1/GIP receptor agonist for treating obesity.

Analysts see significant upside potential

According to the latest update from July 9, 2026, 22 analysts rate the Viking stock as "Buy", one analyst sets "Strong Buy" and only one analyst recommends "Hold". The average price target is $93.60, with a median target of $95. The range of estimates extends from $83 (lowest target) to $101 (highest target).

On August 17, 2026, VKTX stock traded at $28.80 and gained 0.70 percent during the day. The analysts' average price target implies upside potential of more than 200 percent compared to the current price level.

VK2735: Phase 3 studies for obesity therapy

The main value driver for Viking Therapeutics is VK2735, a dual-acting receptor agonist that activates both GLP-1 and GIP receptors – a mechanism of action also used in other successful obesity medications. The company is developing both a subcutaneous and an oral formulation.

The subcutaneous version is in Phase 3 studies for treating obesity. In parallel, a Phase 2b study is underway for non-alcoholic steatohepatitis (NASH), a chronic liver disease often associated with obesity.

The oral form of VK2735 is being investigated in a Phase 2 study for obesity. Oral GLP-1 agonists are considered an attractive alternative to injectable medications because they can improve compliance – patients' willingness to adhere to therapy long-term.

Additional pipeline candidates in development

In addition to VK2735, Viking Therapeutics is developing other agents for metabolic diseases:

• VK2809: An oral, selective thyroid hormone receptor beta agonist for treating NASH and elevated LDL cholesterol. The candidate is in Phase 2 studies.
• VK0214: Another beta agonist for thyroid receptors being developed for rare metabolic disorders – also in Phase 2.
• VK5211: A selective androgen receptor modulator (SARM) for treating sarcopenia, age-related muscle loss. This candidate is also undergoing Phase 2 studies.

Technical indicators show neutral to slightly weak trend

The Relative Strength Index (RSI) was at 43.78 points on August 14, 2026. An RSI below 50 indicates a slightly weaker momentum situation, though the stock is not oversold – values below 30 would be needed for that. In the preceding weeks, the RSI moved between 35.80 (July 31) and 48.76 (August 10).

The 52-week range of the stock extends from $22.96 (low) to $43.15 (high). With a market capitalization of approximately $3.8 billion and average trading volume of 1.7 million shares per day, Viking Therapeutics ranks among mid-sized biotech stocks.

Financial position and capital resources

Viking Therapeutics currently generates no revenue – typical for biotech companies in the clinical development phase. The company reported a loss per share (EPS) of -$4.66 for the fiscal year. The price-to-book ratio is 6.22.

The cash position of $502 million as of June 30, 2026 provides the company with financial flexibility for ongoing Phase 3 studies with VK2735 as well as further development of the remaining pipeline candidates. Biotech investors view cash runway – how long the available capital will fund operations and study costs – as an important factor in risk assessment.

Beta coefficient indicates moderate volatility

With a beta of 0.61, the VKTX stock shows less volatility than the overall market. A beta below 1.0 means that the stock has historically responded less sharply to market movements than the benchmark index. For investors in the biotech sector, known for high volatility, this may be an indication of a somewhat more moderate risk profile.

Regulatory and commercial perspectives

The obesity therapy market is in a dynamic growth phase. The approval of GLP-1-based medications has fundamentally changed the treatment landscape and created a multibillion-dollar market segment. Should VK2735 deliver positive Phase 3 data and obtain approval, Viking Therapeutics could benefit from this trend.

However, the company faces competition from established pharmaceutical companies already marketing approved products. The success of VK2735 will depend on whether the drug can offer compelling differentiation in terms of efficacy, tolerability, ease of use, or price.

Viking Therapeutics went public on April 29, 2015 and has been listed on NASDAQ since then. The company provides further information on its website vikingtherapeutics.com.