Viking bear thesis based on 'fears and alternative facts,' says H.C. Wainwright
Bear pressure on Viking Therapeutics is "winning by share performance metric," but it is based on "fears and alternative facts," H.C. Wainwright analyst Joseph Pantginis tells investors in a research note. He believes Viking's shares are not reflecting the "compelling data" delivered to date for VK2809, as well as VK5211. The "massive" short interest, currently about 45% of shares outstanding, has been putting "significant pressure on the shares following highly positive news events," says Pantginis. The analyst continues to believe VK2809 represents a potential best-in-class molecule that could "also benefit from the clear definition of regulatory paths and questions established by others." He reiterates a Buy rating on Viking Therapeutics with a $31 price target.