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Is Early VANQUISH-1 Completion And VK2735 Progress Altering The Investment Case For Viking Therapeutics (VKTX)?

Simply Wall St · 2d ago
  • In November 2025, Viking Therapeutics reported that it had finished enrollment ahead of schedule in its Phase 3 VANQUISH-1 obesity trial, while also advancing its obesity candidate VK2735 into Phase 3 after earlier Phase 2 results.
  • At the same time, unusually large options activity and split bullish-bearish positioning by major traders highlighted how closely investors are watching Viking’s obesity program progress.
  • Next, we’ll examine how early completion of VANQUISH-1 enrollment shapes Viking Therapeutics’ investment narrative amid shifting expectations for its obesity franchise.

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What Is Viking Therapeutics' Investment Narrative?

To own Viking Therapeutics today, you really need to believe its obesity franchise can move from promising trial data to a real, approved product despite zero revenue, widening losses of about US$237.39m and ongoing dilution risk. The early completion of VANQUISH‑1 enrollment strengthens the near term catalyst path by firming up timelines and suggesting strong trial execution, while the move of VK2735 into Phase 3 helps frame the stock even more tightly around obesity outcomes. At the same time, the large, mixed options activity underlines how polarized expectations already are, so this news may be more about validating the existing bull and bear cases than transforming them. The biggest swing factors remain Phase 3 efficacy and safety, funding needs, and competition from larger GLP‑1 players.

However, that rapid progress in obesity comes with funding, execution and competitive pressures that investors should really understand. The valuation report we've compiled suggests that Viking Therapeutics' current price could be inflated.

Exploring Other Perspectives

VKTX 1-Year Stock Price Chart
VKTX 1-Year Stock Price Chart
Across 24 fair value estimates from the Simply Wall St Community, views span roughly US$9 to US$93 per share. When you weigh that spread against Viking’s binary Phase 3 obesity risk, it underlines why it pays to compare many perspectives before deciding how much of your portfolio, if any, to commit.

Explore 24 other fair value estimates on Viking Therapeutics - why the stock might be worth over 2x more than the current price!

Build Your Own Viking Therapeutics Narrative

Disagree with this assessment? Create your own narrative in under 3 minutes - extraordinary investment returns rarely come from following the herd.

  • A great starting point for your Viking Therapeutics research is our analysis highlighting 4 important warning signs that could impact your investment decision.
  • Our free Viking Therapeutics research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate Viking Therapeutics' overall financial health at a glance.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.