Viking Therapeutics (VKTX) Stock Forecast & Price Target

Viking Therapeutics is supported by a differentiated obesity platform in VK2735, where subcutaneous maintenance data showed 17.8% induction weight loss at 17.5mg, up to 21.7% by week 33 with no plateau, and step-down regimens retained as much as 97% of induction loss every-other-week and 90% monthly, all with tolerability that was essentially placebo-like. That profile strengthens the case for chronic-use adoption because the market is increasingly focused on persistence, convenience, and maintaining the 15% to 20% weight-loss range that is associated with broad cardiometabolic benefit, while Viking’s oral and subcutaneous formulations add flexibility that can improve adherence and uptake. Although 1Q26 EPS was ($1.37) versus FactSet consensus of ($0.98) due to about $150M in R&D expense, the company’s $603M cash balance and runway into 2028, along with additional pipeline assets such as VK2809 and VK0214, support a constructive fundamental outlook.

Viking Therapeutics is facing a weakened fundamental outlook as Ligand’s April 24, 2026 termination of the THR-β master license agreement raises material legal, partnership, and execution risk around VK2809 and VK0214, despite earlier progress and strong phase 2 data in 2024. The dispute alleges failure to use commercially reasonable efforts, while the agreement carried up to $75.0M per indication in development/regulatory milestones and up to $150M in sales milestones, so the loss of that framework threatens future economics and commercialization visibility. Combined with stated risks around clinical and regulatory delays, liquidity, manufacturing scale-up, competition, and broader macroeconomic and geopolitical pressures, the stock’s fundamentals appear highly uncertain.