This Weight Loss Stock is Still a Strong Buy – 7/26

The obesity treatment boom just got a bit more explosive.

Company: Viking Therapeutics (SYM: VKTX)

Today, for example, Viking Therapeutics (SYM: VKTX) rocketed about $16 higher – and could easily see higher highs. All after the company announced it was speeding up the development of its weight loss pill. Better, as noted by Barron’s, “The shortened timeline for the clinical testing of the shot makes Viking an even more ripe target for one of the big pharma firms looking to snap up an obesity drug of their own.”

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Now, instead of moving into a mid-stage Phase 2b trial, which would confirm optimal dosing levels, it’s moving into Phase 3 to get closer to US FDA approval. “The company said that Food and Drug Administration guidance will require two Phase 3 trials and that it expects those trials to cost roughly $300 million.”

With all of the excitement, we wouldn’t be shocked to see VKTX closer to $100 a share again.

We also have to consider the obesity market opportunity is substantial.

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As noted by Goldman Sachs, the global obesity treatment market could grow to $130 billion by 2030. Even Morgan Stanley expects the global obesity drug treatment market to reach $105 billion by 2030 from $77 billion. At the high end, $144 billion.

Plus, there may be no shortage of demand.

That’s because, according to the World Health Organization, obesity has more than doubled since 1990. Adolescent obesity has quadrupled. In addition, about 390 million children and adolescents aged five to 19 years were overweight in 2022, including 160 million who were living with obesity.

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