May. 27 at 10:20 AM
Truist assumed coverage on
$VKTX at a Buy rating and an
$83 PT⬆️from
$75.
$LLY $NVO GPCR
Truist said: We assume coverage of VKTX with an unchanged Buy rating at an
$83 PT (from
$75).
We view VKTX as a differentiated player in a heavily saturated & highly competitive obesity landscape, tackling two key challenges associated with contemporary and newer therapies: time to efficacy - reaching 14.7% in 13 wks, without plateau - and long-term adherence - leveraging both SC & oral formulations for continuity of care, versatile dosing regimens and flexible titration for greater personalization and to mitigate Gl side effects.
VKTX also brings a diversified metabolics pipeline, including an early amylin agonist program, which in our view could bring legs to a LT growth story.
