Viking Therapeutics Ignites Retail-Trader Frenzy Amid Deal Speculation, Upcoming Trial Catalysts

Shares rose nearly 4% overnight as investors tied Viking’s upcoming trial and its positioning to renewed obesity-drug deal momentum after Pfizer’s Metsera buyout.
In this photo illustration, a person holds a smartphone displaying the logo of Viking Therapeutics on July 19, 2025. (Photo illustration by Cheng Xin/Getty Images)
In this photo illustration, a person holds a smartphone displaying the logo of Viking Therapeutics on July 19, 2025. (Photo illustration by Cheng Xin/Getty Images)
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Deepti Sri·Stocktwits
Published Oct 06, 2025   |   12:27 AM GMT-04
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Viking Therapeutics jumped to the top of Stocktwits’ trending tickers after a burst of weekend retail chatter tied to deal speculation, rotation flows out of Eli Lilly, and near-term trial milestones. 

The stock traded nearly 4% higher in overnight trade on Sunday, while retail sentiment was ‘bullish’ amid ‘normal’ message volume.

Users pointed to profit-taking in large caps and rotation into Viking, floated the idea of a potential approach from Lilly, and argued that shares are being re-rated since Metsera’s buyout by Pfizer created a perceived price floor for peers.

Several watchers on Stocktwits highlighted the company’s next catalyst path. Interest centered on the planned subcutaneous-to-oral maintenance study, which CEO Brian Lian said on a Bernstein call is slated to begin “late this quarter or early next quarter.” 

Some saw intrigue in the design and flagged a possible “sell-the-news” setup, while others anticipated updates on spend and Phase 3 enrollment on the upcoming earnings call and kept partnership or buyout scenarios “in play.”

Last month, BTIG suggested that Viking is benefiting from Pfizer’s agreement to acquire Metsera, which expands Big Pharma's appetite for cardiometabolic assets. The research firm reiterated its ‘Buy’ rating with a $125 target, citing sharpened strategic optionality following recent M&A, while Roche’s takeover of 89bio reinforced expectations for continued deal activity across the obesity and NASH pipelines.

Retail voices remained split on strategy. Some argued Viking should not “go it alone,” given its lean headcount and would be better served by a larger commercial partner. Others framed the setup more broadly, citing pipeline breadth, potential rate-cut tailwinds, patent positioning, and a “David vs Goliath” narrative that could keep both institutions and retail engaged.

Investors also revisited the August data on oral VK2735, noting a double-digit mean weight loss at 13 weeks, with tolerability viewed as manageable, although not as pristine as in the early studies. 

Several analysts, including B. Riley, Leerink, Jefferies, Stifel, and JPMorgan, called the selloff that followed overdone, emphasizing dose flexibility, maintenance positioning, and the potential to modulate gastrointestinal events through slower titration.

Viking’s stock has declined 26% so far in 2025.

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