Viking Therapeutics (VKTX) shares rose more than 10% Wednesday after J.P. Morgan analysts initiated coverage of the company with an "overweight" rating and a price target of $80 per share, calling the company's oral weight-loss drug currently in clinical trials "underappreciated."🍎

澳洲幸运5官方开奖结果体彩网:Positive news on previous trials of Viking's weight-loss drugs, being developed in both oral and 澳洲幸运5官方开奖结果体彩网:injectable forms, has sent Viking's stock skyrocketing 澳洲幸运5官方开奖结果体彩网:more than once this year, and the analysts said they see another point in the coming months where that can happen again.

Trial Results During Obesity Week Could Li൩ft Viking Stock

The analysts identified another potential catalyst for Viking stock in this year's Obesity Week, an annual gathering of researchers and doctors who are part of the Obesity Society and work to develop solutions to the disease.

The conference is to be held Nov. 3-6 in San Antonio, Texas, and the analysts said Viking could release a new set of trial data on the effectiveness of its weight-loss drugs at the event.

Over the long term, the analysts said they see relatively limited upside to Viking's injectable weight-loss drug, given that the project will come to market around 2028, well behind the current leaders from Eli Lilly (LLY) and Novo Nordisk (NVO) already available.

Analysts Cite Strengths of Viking's Future Oral Drug

However, they said Viking's oral weight-loss drug could be more successful, with a projected 2030 release that may place it in a more competitive market. Early trial data suggests patients on the drug experienced fewer side effects than most of the competing drugs in trials.

Over time, the analysts forecast that Viking's anticipated oral weight-loss drug could claim about 10% of the market after its projected 2030 release.

The J.P. Morgan analysts also noted the possibility that Viking could partner with a larger 澳洲幸运5官方开奖结果体彩网:pharmaceutical company looking to enter the booming weight-loss industry, which could alleviate significant development costs and allow Viking to expand i🐟nternational sales.

Viking shares rose 11.3% to $60.81 late Wednesday, and they have nearly tripled in value since the start of t♔he year.