• B Riley has initiated Viking Therapeutics at buy saying that the company lead obesity treatment, VK2735, could have "long-term disruptive potential."
• The investment bank has a $109 price target (~111% upside based on Nov. 21 close).
• Analyst Mayank Mamtani said that VK2735 could set itself apart from existing weight loss drugs as it is a "GLP1/GIP agonist being developed
  for an induction (injection [SQ] weekly) and maintenance (oral [PO] or SQ monthly) paradigm."
• Despite VK2735 demonstrating strong clinical results so far, the stock is down ~50% off its 52-week high, he noted, adding that upcoming "additional visibility into manufacturing capacity and competitive positioning [could] unlock significant value through YE 2025E."
• And while Viking's drug is competing against other candidates, such as Novo Nordisk's (NVO) CagriSema, Amgen's (AMGN) MariTide, and Roche's (OTCQX:RHHBY) GYM329, data updates from these programs "represent an opportunity, in our opinion, for VK2735's unique positioning to further stand out while bringing into focus the broader portfolio optionality."

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