Buyout Buzz Around VKTX Is Back: What’s Fueling the Speculation?
VKTX
Although Viking TherapeuticsVKTX isn’t officially on the auction block, investors are increasingly viewing it as a potential acquisition target. This perception stems from the company’s rapidly expanding obesity franchise, driven by the late-stage development of VK2735, the addition of a new obesity candidate and an upcoming clinical data readout that could further bolster investor confidence
Why Is Everyone Talking About VKTX?
The renewed takeover speculation isn’t driven by reports of an imminent deal. Instead, it reflects Viking’s growing strategic value as the company continues to strengthen and diversify its obesity pipeline
VK2735 remains the company’s lead obesity candidate and primary value driver. This dual GLP-1/GIP receptor agonist has delivered encouraging efficacy across both subcutaneous (SC) and oral formulations, positioning it as one of the more promising late-stage obesity therapies currently under development. While the SC version is currently being evaluated in two phase III studies, the oral formulation is on track to enter late-stage development later this year
Viking has further strengthened its obesity franchise with the initiation of a phase I study evaluating VK3019, a novel dual amylin and calcitonin receptor agonist. The addition of a second obesity candidate demonstrates the company’s strategy of building a broader franchise rather than relying on a single asset
Investors are also closely watching an upcoming data readout from an ongoing maintenance dosing study on VK2735, which could serve as another important catalyst. The study is evaluating multiple maintenance regimens, including monthly SC, weekly oral and daily oral dosing, to determine whether the weight loss achieved with weekly SC treatment can be sustained over the long term. Viking expects to report SC maintenance data in the third quarter of 2026, followed by oral maintenance data in the first half of 2027.
From the viewpoint of large-cap biotech/pharma companies looking to strengthen their presence in the fast-growing obesity market, Viking Therapeutics represents an attractive strategic asset. Acquiring the company would allow a potential buyer to significantly accelerate its obesity pipeline compared with developing a therapy from the ground up. Such a deal could also benefit VKTX, as the clinical-stage biotech could leverage a larger partner’s commercial infrastructure, manufacturing capabilities and global distribution network to maximize the reach of its obesity portfolio following potential regulatory approvals.
Competition Heating Up in the Obesity Space
The obesity market has garnered significant attention in recent years, as bothEli Lilly LLY andNovo Nordisk NVO dominate the space with their respective blockbuster obesity drugs, Zepbound and Wegovy. The obesity market in the United States is expected to reach $100 billion by 2030. To capitalize on this opportunity, both companies have expanded their manufacturing capacity while continuing to invest heavily in next-generation obesity therapies
Although competition initially centered on once-weekly injectable therapies, the focus has increasingly shifted toward more convenient oral alternatives. Earlier this year, Novo Nordisk launched an oral version of Wegovy, while Eli Lilly introduced Foundayo, marking a significant step toward improving patient convenience and broadening access to obesity treatment
The competitive landscape is now evolving beyond traditional GLP-1 therapies. Both companies are advancing next-generation candidates designed to deliver greater efficacy and improved patient convenience through multi-target mechanisms. Among them, Eli Lilly’s retatrutide, a triple agonist targeting the GLP-1, GIP and glucagon receptors, has demonstrated approximately 28% weight loss in late-stage studies—an efficacy level previously associated primarily with bariatric surgery
Novo Nordisk is advancing its next-generation obesity pipeline. It has submitted a regulatory filing seeking approval for CagriSema injection, a follow-up drug to Wegovy, while another candidate, amycretin, has shown strong weight-loss efficacy in a phase II study and is expected to enter late-stage development soon
VKTX’s Price Performance, Valuation and Estimates
Shares of Viking Therapeutics have outperformed the industry year to date, as seen in the chart below
From a valuation standpoint, VKTX is trading at a premium to the industry. Based on the price-to-book value (P/B) ratio, the company’s shares currently trade at 9.24 times trailing book value, higher than the industry’s 3.69 times. The stock is also trading above its five-year mean of 4.35
Estimates for Viking’s 2026 loss per share have widened from $4.67 to $4.70 in the past 60 days. During the same timeframe, loss estimates for 2027 have increased from $4.40 to $4.47
Viking Therapeutics currently has a Zacks Rank #4 (Sell)
You can seethe complete list of today’s Zacks #1 Rank (Strong Buy) stocks here
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Viking Therapeutics, Inc. (VKTX): Free Stock Analysis Report
Novo Nordisk A/S (NVO): Free Stock Analysis Report
Eli Lilly and Company (LLY): Free Stock Analysis Report
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