Viking Therapeutics: A Valuation Disconnect Sparks Analyst Optimism

A surge of consolidation within the biotech industry is casting a spotlight on Viking Therapeutics, placing the company in a compelling strategic position. This shift is being driven by Pfizer's aggressive moves in the weight-loss drug market, which are effectively resetting valuation benchmarks for the sector. In response, a rare consensus is forming among market analysts, who point to a substantial gap between the company's current share price and its perceived intrinsic value.

The sentiment from financial experts has solidified markedly, moving beyond earlier, more cautious appraisals. The data presents a clear picture:

• Overwhelming Buy Rating: Sixteen analysts currently recommend purchasing the stock, with only a single analyst advising a "hold" position.
• Price Target Discrepancy: While the shares trade in the $37 to $38 range, the average price target among these experts sits between $92 and $95.
• Implied Potential: This spread suggests an approximate upside potential of 150 percent.

Market observers interpret this alignment as a strong indicator that Viking's stock is undervalued relative to its risk-adjusted potential and the scarcity of advanced-stage assets in the marketplace.

Pfizer's Acquisitive Streak Resets the Benchmark

The competitive landscape has undergone a tangible transformation. Confirming a new licensing agreement with YaoPharma worth up to $1.9 billion on December 10, 2025, Pfizer has demonstrated its commitment to the obesity drug sector. This deal follows closely on the heels of its finalized acquisition of Metsera in November.

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

For Viking shareholders, a specific detail of the Metsera transaction is critical: the verified base value of that deal was set at $7.0 billion in cash. This figure establishes a concrete valuation floor for clinical-stage obesity assets. Given that Viking's lead candidate, VK2735, possesses a comparable pipeline, the company's current market capitalization appears attractive when measured against this new benchmark.

Operational Execution Fuels the Bull Case

The optimistic outlook is not solely based on takeover speculation but is underpinned by solid operational progress. The company recently reported the early completion of patient recruitment for its Phase 3 trial, VANQUISH-1. This milestone signals strong demand and efficient processes in developing the subcutaneous formulation of VK2735.

Featuring a dual GLP-1/GIP mechanism of action, the drug is positioned as a direct competitor to established market leaders. In a sector where Pfizer has now struck twice, independent firms with completed late-stage recruitment are becoming increasingly attractive targets.

Awaiting the Next Catalyst

Currently, the stock appears to be forming a base around the $37 level, as the market awaits the next concrete catalyst. Investor attention is now focused on upcoming data for the oral formulation of VK2735, as well as potential further activity in the sector's merger and acquisition arena. The combination of the valuation foundation established by Pfizer's deals and the robust analyst support suggests a potential re-rating of Viking's shares could be on the horizon.