Viking Therapeutics: A Strategic Bet on 2026’s Clinical Catalysts

Viking Therapeutics shares have experienced significant volatility over the past year, trading well below their peak. However, recent portfolio disclosures reveal a compelling divergence in institutional sentiment. As some major players secure profits, others are leveraging the lower share price to establish substantial new positions. This dynamic raises a critical question for investors: does the current pullback present a strategic entry point ahead of a pivotal period for the company?

The latest regulatory filings highlight a clear division among professional money managers. During the second quarter of 2025, BlackBarn Capital Partners initiated a major new position, acquiring 350,000 shares valued at approximately $9.28 million. This move was mirrored by Norges Bank and Jump Financial, which both expanded their holdings. In a contrasting maneuver, 683 Capital Management reduced its stake by 16.7 percent, though it maintains a substantial investment worth over $6.7 million.

Beyond these portfolio adjustments, market strategists are renewing their focus on the biopharmaceutical firm. Investment expert Shay Boloor recently identified Viking as a top contender for 2026. When evaluated against competitor BioAge Labs, Viking is often viewed as the more robust player in the lucrative GLP-1 weight-loss therapy market, largely due to its more advanced stage of development.

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

Contrasting Market Performance with Long-Term Potential

This strategic optimism exists against a backdrop of recent share price weakness. Closing at $37.08 on Friday, the stock trades nearly 55 percent below its 52-week high of $81.73. The primary catalyst for this decline was the October third-quarter earnings report, which revealed a larger-than-anticipated loss of $0.81 per share. Further investor unease stemmed from higher discontinuation rates in trials for the oral version of its drug candidate, despite the injectable formulation of VK2735 continuing to demonstrate strong efficacy data.

For shareholders, the clinical timeline remains the paramount consideration. Patient recruitment for the crucial Phase 3 trials is scheduled for completion between late 2025 and the first quarter of 2026. While the first conclusive data from these studies is not expected until mid-2027, the average analyst price target of $87.14 suggests a theoretical upside potential of over 135 percent from current levels.