Insider Sales and Market Competition Weigh on Viking Therapeutics Shares

Significant stock sales by Viking Therapeutics' senior leadership team contributed to notable downward pressure on the company's share price at the start of the trading week. Concurrently, heightened competition in the lucrative GLP-1 drug market, underscored by Novo Nordisk's aggressive pricing for its newly approved oral weight-loss therapy, presents a fresh challenge. This apparent management caution stands in contrast to the overwhelmingly bullish outlook maintained by Wall Street analysts.

The competitive landscape for obesity treatments intensified with Novo Nordisk's pricing announcement for the oral version of Wegovy, the first FDA-approved oral GLP-1 medication for weight management. Aimed at U.S. patients paying out-of-pocket, the monthly cost is set at $149 for lower doses (1.5 mg and 4 mg), while higher dosages are priced at $299 per month. Viking's own primary drug candidate, VK2735, targets this same market. VK2735 is a dual GLP-1/GIP receptor agonist currently in Phase 3 clinical trials. Its pivotal VANQUISH-1 study for obesity concluded enrollment ahead of schedule in November 2025, including 4,650 participants versus the initially planned 4,500. Top-line results from this 78-week trial are anticipated in 2027.

Leadership Team Executes Substantial Sales

Regulatory filings revealed extensive share disposals by the biopharmaceutical firm's three top executives, precipitating a 9.3% decline in the stock on Monday to a closing price of $32.14. Collectively, the CEO, CFO, and COO sold shares worth approximately $11.5 million.

The key transactions were as follows:
* CEO Brian Lian sold 233,409 shares for roughly $7.69 million, followed by an additional sale of 132,454 shares at prices between $32 and $35, valued at over $4.2 million. Following these disposals, his remaining stake stands at 2,600,246 shares.
* CFO Greg Zante divested 57,761 shares for about $1.89 million at prices ranging from $32.09 to $34.24. Earlier, on January 2, he had received 73,049 shares via Restricted Stock Units and was granted options for a further 91,000 shares.
* COO Marianna Mancini sold 57,661 shares worth approximately $1.89 million under similar conditions.

These sales were complemented by a transaction from board member Matthew W. Foehr, who sold 16,000 shares on January 2 at prices between $34.94 and $35.50, totaling $561,694.

A Clear Pattern of Disposals Emerges

The recent activity continues a well-established trend. Over the past six months, a total of 17 insider transactions have been reported—all of them sales, with not a single purchase. The aggregate volume of these disposals reaches around $16 million, predominantly from members of the management team. While the mandatory filings do not specify reasons for the sales, the one-sided nature of the trading has likely influenced the recent negative market sentiment.

Should investors sell immediately? Or is it worth buying Viking Therapeutics?

Upcoming Catalyst and Strong Analyst Backing

Looking ahead, Viking has announced that CEO Brian Lian is scheduled to present at the 44th Annual J.P. Morgan Healthcare Conference. The presentation in San Francisco is set for next Monday at 2:15 p.m. local time and will be webcast. This event may provide updated commentary on the progress of the company's clinical development pipeline.

Despite the insider selling, the consensus view among research analysts remains strongly positive. The median price target sits at $102, implying substantial upside potential from current levels, with an average rating of "Moderate Buy."

Selected analyst targets include:
* Raymond James: Strong Buy, $122 target
* BTIG: Buy, $125 target
* Canaccord Genuity: Buy, $107 target
* HC Wainwright: Buy, $102 target
* JP Morgan: Overweight, $75 target

From a financial perspective, Viking appears well-capitalized. As of the end of Q3 2025, the company held approximately $700 million in cash and equivalents, exceeding its financial obligations. Management states this reserve is sufficient to fund ongoing Phase 3 trials through their primary readouts.

Path Forward in 2026

For the coming year, Viking anticipates further advances in the late-stage development of VK2735. Enrollment for the second Phase 3 trial, VANQUISH-2, which includes patients with overweight or obesity and type-2 diabetes, is expected to be completed in the first quarter.

The company's next quarterly financial report is scheduled for February 11. In the near term, investor focus will likely center on the upcoming J.P. Morgan conference presentation and any new guidance regarding trial timelines and strategic positioning within the rapidly evolving oral GLP-1 marketplace.