VKTX Stock Eyes Blockbuster Week Despite Share Offering — Retail Traders See A Stronger Hand In Buyout Talks

• VKTX is heading for its best week in over two years after a 36% Tuesday surge on VK2735 obesity-drug data.
• Shares slipped after hours on Wednesday when Viking proposed raising $400 million through stock and convertible notes.
• Stocktwits sentiment hit record levels as traders debated whether the cash raise strengthens Viking’s position in buyout talks.

Shares of Viking Therapeutics (VKTX) are heading for their best weekly run in over two years as promising data for its weight-loss drug VK2735 outweighs, for now, investor unease over a proposed share offering and renewed talks about a possible sale.

VKTX stock jumped 36% on Tuesday, its biggest one-day gain in over two years, after Viking reported that patients maintained most of their weight loss when they switched from weekly VK2735 injections to less frequent shots. However, shares fell in after-hours trading on Wednesday after the company announced plans to raise $400 million through stock and convertible notes.

Retail Sees Deal Leverage In Viking’s Cash Raise 

Viking plans separate offerings of $200 million in common stock and $200 million in convertible senior notes due 2032. Underwriters would have the option to purchase an additional $30 million of each. The company intends to put the proceeds toward development and potential commercialization of VK2735, advancement of its VK3019 program, research and working capital. 

Sentiment on Stocktwits for VKTX hit a record high at 96/100 within ‘extremely bullish’ territory, up from ‘bullish’ levels a week ago as message volumes rose 14% over the same period. 

One user wondered whether Viking could be close to a big pharma partnership or buyout and whether the financing might be connected. Another argued that additional cash would give the company “strong negotiation power” in talks over a partnership or sale.

One post named Novo Nordisk (NVO), AbbVie (ABBV) and potentially Eli Lilly (LLY) as companies to watch. A separate trader drew attention to Lilly aircraft movements around Viking CEO Brian Lian’s New York investor meetings. Other users read the offering very differently. One trader said it suggested Lian had chosen to develop VK2735 independently, while another concluded that a buyout had become less likely. 

VKTX Maintenance Results Fuel Bull Case 

In Viking’s maintenance study, patients taking weekly VK2735 lost 16% to 19% of their body weight over 21 weeks. During the following 12 weeks, those switched to every-other-week injections retained up to 97% of that loss, while those switched to monthly injections retained up to 90%. Patients moved to placebo retained 61%.

An exploratory group that stayed on weekly treatment reached mean weight loss of 21.7% at week 33, with no plateau observed. The results suggest a possible way to help patients maintain weight loss with fewer injections, though Viking still needs to establish the dosing approach in larger, later-stage studies. Both Phase 3 trials of injectable VK2735 are fully enrolled, with results expected in 2027. Viking also expects to begin Phase 3 studies of an oral formulation in the fourth quarter of 2026.

Truist Calls VK2735 Data A ‘Best-Case Scenario’ 

Additionally, Truist raised its price target on VKTX to $87 from $83 and maintained a ‘Buy’ rating, calling the VK2735 maintenance results a “best-case scenario” for the depth of weight loss, how much patients retained and tolerability. The new target implies about 109% upside from current levels. The firm noted that Viking has yet to settle on maintenance doses for extensions of its Phase 3 Vanquish trials as it discusses dose selection and frequency with regulators. Truist nevertheless sees a potential path for both every-other-week and monthly regimens.

Across 20 analysts tracked by Koyfin, the average 12-month target is $94.82, implying about 128% upside from the stock’s last close. Five rate VKTX ‘Strong Buy,’ 13 rate it ‘Buy’ and two rate it ‘Hold’, and none rate it ‘Sell’ or ‘Strong Sell.’

VKTX stock has risen 18% year-to-date.

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