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Fly News Breaks for September 21, 2018
GTXI, VKTX
Sep 21, 2018 | 11:16 EDT
Raymond James analyst Steven Seedhouse would be a buyer on any volatility in Viking Therapeutics (VKTX) after GTx (GTXI) announced its Phase 2 ASTRID study testing enobosarm in women with SUI failed to achieve its primary endpoint. Viking has not ever tested VK5211 in SUI, but there had appeared to be solid early clinical and preclinical rationale for the indication, Seedhouse tells investors. Viking is not yet developing its SARM VK5211 in SUI and VK5211 is not in his model for either SUI or hip fracture recovery, so the failure of ASTRID really doesn't have immediate or direct negative readthrough to Viking, Seedhouse added. He maintains an Outperform rating and $43 price target on Viking shares, which are down 1% to $18.73 in early trading.