Viking Therapeutics, Inc.

Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Viking Therapeutics Inc (Symbol: VKTX), where a total volume of 27,860 contracts has been traded thus far today, a contract volume which is representative of approximately 2.8 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 59.4% of VKTX's average daily trading volume over the past month, of 4.7 million shares. Especially high volume was seen for the $50 strike call option expiring January 16, 2026, with 3,082 contracts trading so far today, representing approximately 308,200 underlying shares of VKTX. Below is a chart showing VKTX's trailing twelve month trading history, with the $50 strike highlighted in orange:
Eastman Kodak Co. (Symbol: KODK) options are showing a volume of 6,953 contracts thus far today. That number of contracts represents approximately 695,300 underlying shares, working out to a sizeable 59.1% of KODK's average daily trading volume over the past month, of 1.2 million shares. Especially high volume was seen for the $5 strike put option expiring December 19, 2025, with 5,300 contracts trading so far today, representing approximately 530,000 underlying shares of KODK. Below is a chart showing KODK's trailing twelve month trading history, with the $5 strike highlighted in orange:
And GEO Group Inc (Symbol: GEO) saw options trading volume of 12,454 contracts, representing approximately 1.2 million underlying shares or approximately 58.9% of GEO's average daily trading volume over the past month, of 2.1 million shares. Particularly high volume was seen for the $30 strike call option expiring April 17, 2026, with 5,003 contracts trading so far today, representing approximately 500,300 underlying shares of GEO. Below is a chart showing GEO's trailing twelve month trading history, with the $30 strike highlighted in orange:
For the various different available expirations for VKTX options, KODK options, or GEO options, visit StockOptionsChannel.com.
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AL market cap history
EGIF market cap history
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Noteworthy Thursday Option Activity: VKTX, KODK, GEO

Looking at the underlying holdings of the ETFs in our coverage universe at ETF Channel, we have compared the trading price of each holding against the average analyst 12-month forward target price, and computed the weighted average implied analyst target price for the ETF itself. For the iShares U.S. Healthcare ETF (Symbol: IYH), we found that the implied analyst target price for the ETF based upon its underlying holdings is $67.93 per unit.
With IYH trading at a recent price near $61.45 per unit, that means that analysts see 10.54% upside for this ETF looking through to the average analyst targets of the underlying holdings. Three of IYH's underlying holdings with notable upside to their analyst target prices are Viking Therapeutics Inc (Symbol: VKTX), Ultragenyx Pharmaceutical Inc (Symbol: RARE), and Acadia Healthcare Company Inc. (Symbol: ACHC). Although VKTX has traded at a recent price of $31.42/share, the average analyst target is 181.87% higher at $88.56/share. Similarly, RARE has 159.81% upside from the recent share price of $33.14 if the average analyst target price of $86.10/share is reached, and analysts on average are expecting ACHC to reach a target price of $28.71/share, which is 22.40% above the recent price of $23.46. Below is a twelve month price history chart comparing the stock performance of VKTX, RARE, and ACHC:
Below is a summary table of the current analyst target prices discussed above:
Name
Symbol
Recent Price
Avg. Analyst 12-Mo. Target
% Upside to Target
iShares U.S. Healthcare ETF
IYH
$61.45
$67.93
10.54%
Viking Therapeutics Inc
VKTX
$31.42
$88.56
181.87%
Ultragenyx Pharmaceutical Inc
RARE
$33.14
$86.10
159.81%
Acadia Healthcare Company Inc.
ACHC
$23.46
$28.71
22.40%
Are analysts justified in these targets, or overly optimistic about where these stocks will be trading 12 months from now? Do the analysts have a valid justification for their targets, or are they behind the curve on recent company and industry developments? A high price target relative to a stock's trading price can reflect optimism about the future, but can also be a precursor to target price downgrades if the targets were a relic of the past. These are questions that require further investor research.
Also see:
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

How The Parts Add Up: IYH Headed For $68

Key Points
Eli Lilly has arguably taken the lead in the obesity drug space.
Novo Nordisk has struggled, but remains a top contender with a potential catalyst looming.
Viking Therapeutics is a riskier choice, but its experimental obesity drug has tons of potential.
Obesity drugs are arguably the hottest growth opportunity in the healthcare sector.
These drugs primarily work by slowing digestion and suppressing patients' appetites. What began as a treatment for type 2 diabetes has expanded into the broader weight management space, creating a surging market opportunity. According to Morgan Stanley, obesity drug sales could grow from $15 billion last year to $150 billion by 2035.
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Two pharmaceutical companies have dominated the industry with their current-generation subcutaneous (injected) drugs, but the stakes are high as next-generation treatments near regulatory approval, including oral (pill) formulations.
Here are three high-profile competitors in the obesity drug industry, and why they are set to soar this Fall and beyond.
1. Eli Lilly: The current clubhouse leader in the U.S. market
Eli Lilly (NYSE: LLY) has become the leading company in the United States for obesity drugs. It sells two primary products containing tirzeptatide as the proprietary active pharmaceutical ingredient (API): Mounjaro for type 2 diabetes, and Zepbound for chronic weight management. The two products have an estimated 1.1 million active transcripts in the United States between them.
The company has dramatically expanded its market share over the past year, capitalizing on its arch-rival's struggles -- more on that shortly. Eli Lilly is developing orforglipron, a once-daily oral GLP-1 medication for the treatment of type 2 diabetes and obesity. It's also developing retatrutide, a triple-hormone-receptor agonist, as its next subcutaneous obesity drug.
These innovations, assuming they ultimately obtain regulatory approvals, could enable Eli Lilly to build on its recent momentum in a vast addressable market that spans far beyond its current patient count of 1.1 million. Eli Lilly hopes to submit for final approval to launch orforglipron later this year.
2. This industry stalwart dominates international markets
Novo Nordisk (NYSE: NVO) is Eli Lilly's arch-rival. Although the company has lost market share over the past year, Novo Nordisk remains a prominent force in this industry. Its proprietary semaglutide is the active pharmaceutical ingredient in Ozempic for type 2 diabetes and Wegovy for obesity. These two drugs have about 968,000 transcripts in the United States. Novo Nordisk also holds a total market share of approximately 71% of the international GLP-1 market.
However, the company has struggled against telehealth companies selling compounded semaglutide, essentially copycat products made at customized dosages. It has become problematic enough that Novo Nordisk cut its outlook and the CEO stepped down earlier this year. One way Novo Nordisk plans to combat compounded obesity drugs is with a pill version of Wegovy. It would be the first GLP-1 pill to hit the market if it launches before Eli Lilly's orforglipron.
Since it utilizes semaglutide, which has already proven effective and popular among patients, it could persuade individuals using compounded subcutaneous treatments to switch. It doesn't seem like a stretch to say that most people would probably prefer a pill to a needle. Novo Nordisk has already submitted its formal application to the FDA and could receive a decision by the end of the year. News of approval would likely reinvigorate this slumping pharmaceutical giant.
3. A new competitor to the obesity drug space with loads of potential
Viking Therapeutics (NASDAQ: VKTX) could emerge as a new challenger to the dominance currently enjoyed by Eli Lilly and Novo Nordisk in the obesity drug market. The company's experimental drug, VK2735, is a dual GLP-1/GIP agonist, similar to tirzepatide, Eli Lilly's proprietary drug used in Mounjaro and Wegovy. Importantly, Viking Therapeutics is developing both a subcutaneous version (in phase 3 trials) and an oral version (in phase 2 trials).
While the oral formulation's most recent trial results included some issues with side effects, VK2735 has demonstrated strong efficacy. It appears poised to be a competitive offering if it wins regulatory approval and reaches the market. Viking Therapeutics only has a market cap of $4 billion, leaving room for significant investment upside if the company can successfully establish itself in the obesity drug space.
However, the stock is riskier than its established competitors, as it hasn't brought a product to market yet, and thus, has no revenue. The stock has been quite volatile and is currently down over 60% from its all-time high. Viking Therapeutics could soar heading into the Fall, or possibly next year, as Wall Street anticipation builds for updates on the subcutaneous version of VK2735.
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Justin Pope has no position in any of the stocks mentioned. The Motley Fool recommends Novo Nordisk and Viking Therapeutics. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

These 3 Obesity Drug Stocks Are Set to Soar This Fall and Beyond

Viking Therapeutics VKTX is set to report third-quarter 2025 earnings on Oct. 22, after market close. Since the company lacks a marketed drug in its portfolio, no revenues are expected to be recorded. The Zacks Consensus Estimate for earnings is pegged at a loss of 70 cents per share. Loss estimates for 2025 have widened from $2.39 to $2.45 per share in the past 60 days.
Image Source: Zacks Investment Research
VKTX’s Earnings Surprise History
The biotech firm’s performance has been dismal over the past four quarters. Its earnings missed estimates in three of the trailing four quarters and beat the mark on one occasion, delivering a negative average surprise of 15.65%. In the last reported quarter, Viking’s earnings missed estimates by 31.82%.
Image Source: Zacks Investment Research
What Our Model Predicts for VKTX
Per our proven model, companies with the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), #2 (Buy) or #3 (Hold) have a good chance of delivering an earnings beat. This is not the case here. You can uncover the best stocks to buy or sell before they're reported with our Earnings ESP Filter.
Viking has an Earnings ESP of 0.00% and a Zacks Rank #4 (Sell) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Factors Shaping VKTX’s Upcoming Results
With no approved/marketed product in its portfolio, Vikings' third-quarter investor call is likely to focus on pipeline updates, which include three candidates — VK2735 (for obesity), VK2809 (for non-alcoholic steatohepatitis [NASH]) and VK0214 (for X-linked adrenoleukodystrophy [X-ALD]).
Viking Therapeutics recently started a late-stage program evaluating the subcutaneous (SC) formulation of VK2735 for adults with obesity. This program consists of two phase III studies — the VANQUISH-1 and VANQUISH-2. While the VANQUISH-1 study is enrolling obese adults with at least one weight-related co-morbid condition and without type II diabetes (T2D), the VANQUISH-2 study will enroll obese or overweight adults with T2D. Investors are likely to expect updates on the enrolment progress of both studies.
Investors would also seek an update from the company on the oral version of VK2735 after it reported mixed top-line results from a mid-stage study a couple of months back. Though patients on the highest drug dose lost up to 12.2% of their body weight after 13 weeks of daily dosing compared with 1.3% in the placebo group, a significant number of patients dropped out of the study due to adverse effects. We expect Viking to provide an update on how it plans to address the issues.
We also expect the company to provide an update on its internally developed dual amylin and calcitonin receptor agonist (DACRA) candidate. VKTX had previously announced plans to file an investigational new drug (IND) application with the FDA for the candidate before the end of this year to start clinical studies in the obesity indication.
We expect VKTX to provide updates on its NASH and X-ALD drugs, including progress on the collaboration prospects for both programs.
Nevertheless, a single quarter’s results are not so important for long-term investors. Let us delve deeper to understand whether it would be a prudent move to buy, sell, or hold the stock at present.
VKTX’s Stock Price Performance & Valuation
Year to date, the stock has lost nearly 14% againstthe industry’s 9% growth. It has also underperformed the broader Medical sector and the S&P 500 Index, as seen in the chart below.
VKTX Stock Underperforms Industry, Sector & S&P 500
Image Source: Zacks Investment Research
From a valuation standpoint, Viking is trading at a premium to the industry. Going by the price/book ratio, the stock currently trades at 4.91 times trailing 12-month book value, which is more than 3.41 for the industry. The stock is also trading above its five-year mean of 3.48.
Image Source: Zacks Investment Research
Our Investment Thesis on VKTX Stock
Viking Therapeutics maintains a solid financial footing, with $808 million in cash (as of June 2025) and no outstanding debt, providing ample liquidity to fund ongoing operations and R&D efforts. However, the company continues to face structural challenges, primarily its lack of a stable revenue stream and exposure to intense competition from major players such as Eli Lilly LLY and Novo Nordisk NVO.
In the obesity treatment segment, Viking is attempting to carve out space in a market dominated by Lilly and Novo. The demand for obesity drugs remains strong, offering significant potential for new entrants. Yet, the recent mixed-stage data from Viking’s oral candidate VK2735 have raised concerns about tolerability and safety, complicating the drug’s competitive positioning. Moreover, the landscape is shifting rapidly as both Lilly and Novo advance toward oral pills. Novo’s oral Wegovy is already under FDA review, while Lilly plans to file for approval of its oral GLP-1 pill, orforglipron, by this year’s end. These developments could narrow Viking’s window of opportunity.
Beyond obesity, Viking’s NASH and X-ALD programs have delivered encouraging early results, but the company’s limited resources have prompted management to pursue partnership opportunities to support further clinical development.
How to Play the Stock?
The stock’s premium valuation and downward revisions to earnings estimates make it difficult to justify building or increasing positions at this stage. Until the company resolves the tolerability issues related to oral VK2735, we advise investors to steer clear of the stock.
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Pre-Q3 Earnings: Is Viking Therapeutics Stock a Portfolio Must-Have?

For Immediate Release
Chicago, IL – October 17, 2025 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Eli Lilly LLY, Novo Nordisk NVO, Amgen AMGN and Viking Therapeutics VKTX.
Here are highlights from Thursday’s Analyst Blog:
How Will Mounjaro and Zepbound Sales Aid Lilly's Upcoming Q3 Results?
Eli Lilly is a dominant player in the cardiometabolic space, all thanks to the encouraging uptake for its blockbuster GLP-1 drugs — Mounjaro (for type II diabetes [T2D]) and Zepbound (for obesity). Though both products have been on the market for a little over three years, they now account for more than half of the company’s topline. Investors will be most keen to know the sales numbers of these two drugs when Lilly reports third-quarter results on Oct. 30, before the opening bell.
Notably, Mounjaro is the market leader in new prescriptions within T2D incretin analogs, enjoying a market share of 50% in the United States. Zepbound also holds a leading market share in the anti-obesity market, with 75% of total patients taking Zepbound. This is mainly due to the improved supply of both drugs in the country as a result of ramped-up production. Sales of Mounjaro and Zepbound have also benefited from launches in new international markets.
We believe that deeper penetration in the U.S. market and increased uptake in international markets are likely to have driven the growth of both drugs in the third quarter of 2025. Our model estimates for Mounjaro and Zepbound sales are pegged at $5.33 billion and $3.46 billion, respectively, for the to-be-reported quarter.
Beyond cardiometabolic health, Lilly’s broader portfolio — including the oncology drug Verzenio and immunology drug Taltz — also continues to deliver steady growth. The company’s recently launched drugs, such as Omvoh and Ebglyss in immunology, Jaypirca in oncology and Kisunla in neuroscience, have all been contributing to top-line growth.
LLY’s Peers in the Obesity Space
According to research conducted by Goldman Sachs, the obesity market in the United States is expected to reach $100 billion by 2030. Eli Lilly and Novo Nordisk presently dominate this space.
Mounjaro and Zepbound directly compete with Novo Nordisk’s semaglutide medicines, Ozempic for diabetes and Wegovy for obesity. Like Lilly, Novo also generates a substantial portion of revenues from both drugs.
Several other companies, like Amgen and Viking Therapeutics, are also making rapid progress in the obesity space. Amgen has launched a broad phase III program for its dual GIPR/GLP-1 agonist, MariTide, targeting obesity and diabetes. Meanwhile, Viking Therapeutics is progressing two late-stage studies of its injectable VK2735 and reported mixed mid-stage data on the oral version in August, prompting a sharp stock decline.
LLY’s Price Performance, Valuation and Estimates
Shares of Lilly have outperformed the industry year to date.
From a valuation standpoint, Eli Lilly is expensive. Based on the price/earnings (P/E) ratio, the company’s shares currently trade at 28.29 times forward earnings, higher than its industry’s average of 15.60. However, the stock is trading below its five-year mean of 34.54.
The bottom-line estimate for 2025 has declined from $23.15 to $23.01 per share, while that for 2026 has fallen from $30.82 to $30.79 over the past 30 days.
Eli Lilly currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
5 Stocks Set to Double
Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in the coming year. While not all picks can be winners, previous recommendations have soared +112%, +171%, +209% and +232%.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

The Zacks Analyst Blog Highlights Eli Lilly, Novo Nordisk, Amgen and Viking Therapeutics

Key Points
Eli Lilly is a leader in weight loss drugs, a market that may reach $95 billion by the end of the decade.
Viking Therapeutics is heading toward the finish line with a drug that could compete with Lilly’s.
Eli Lilly (NYSE: LLY) and Viking Therapeutics (NASDAQ: VKTX) offer investors the chance to invest in one of today's highest-potential industries: weight loss drugs. The market for these products, worth about $28 billion right now, is forecast to grow to $95 billion by 2030, according to Goldman Sachs Research. And already, weight loss drugs have been supercharging the revenue of market leaders Lilly and Novo Nordisk.
Viking hasn't yet launched a weight loss drug, but it has candidates in phase 2 and phase 3 trials, and has reported great results so far. For investors, Lilly and Viking have brought in triple-digit gains over the past three years, though both stocks have stumbled in more recent times. Now, moving forward, which is the best growth opportunity according to Wall Street? Let's find out.
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The Eli Lilly story
Eli Lilly has commercialized tirzepatide as a treatment for type 2 diabetes under the name Mounjaro and as a treatment for weight loss under the name Zepbound -- but doctors have prescribed either to patients aiming to shed pounds. These products each have delivered blockbuster revenue, and demand has been so high that they spent much of last year on the U.S. Food and Drug Administration's drug shortage list.
Since then, supply has returned thanks to Lilly's investments in manufacturing and a move to also offer Zepbound, previously only sold in injector pens, in single-dose vials -- these are easier and cheaper to produce than injector pens, helping Lilly bring more of this drug to market faster.
Though Lilly, as a big pharma company, sells a broad range of medicines, the weight loss portfolio is driving overall growth. In the most recent quarter, revenue climbed 38% to more than $15 billion, led by sales of these weight loss drugs. In fact, they made up more than half of Lilly's revenue in the period. Meanwhile, Lilly now is preparing to submit orforglipron, its oral candidate for obesity, for regulatory review worldwide this year.
So, it's very clear that these are key products for Lilly in the years to come -- and this is reinforced by the ongoing demand and the market forecast I mentioned above.
The Viking Therapeutics story
Viking Therapeutics is developing a drug in the same class as that of Lilly. These drugs are dual GIP/GLP-1 receptor agonists -- they act on hormonal pathways to regulate blood sugar levels and reduce appetite. And considering the demand out there for these drugs, Viking clearly could carve out a share of the market.
Where does the company stand right now? It's testing VK2735 in injectable form in a phase 3 trial and studying the candidate in pill form in a phase 2 trial. Results from each have been positive so far, positioning Viking to potentially compete with market leaders a few years from now.
Investors like Viking for its weight loss portfolio -- and Viking could shepherd candidates from here to the finish line on its own and succeed. But some investors also have piled into the Viking story with the idea that the company might receive a takeover offer or key partnership. Many others in the pharma and biotech space are interested in getting in on the weight loss industry -- and for those that have the cash, the easiest route is buying a company that's close to the finish line.
All of this makes Viking a company that offers significant growth potential.
What does Wall Street say?
Now, let's consider Wall Street's price forecasts for each of these possible winners. Over the coming 12 months, the average forecast for Eli Lilly is $891, implying a 10% increase from today's price. Meanwhile, the average forecast for Viking is more than $92, and that equals a 179% gain from the current level. In both cases, buy recommendations far outweigh recommendations to sell.
So, Wall Street likes both of these companies -- but forecasts the most growth from Viking. Does that mean every investor should pile into Viking? Not necessarily. It's important to consider your investment style. Viking, without products on the market so far, carries some risk, so cautious investors may be better off buying Lilly shares. But, if you have more of an aggressive investment style, now is a great time to jump into the Viking story and buy the stock on the dip.
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Adria Cimino has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Goldman Sachs Group. The Motley Fool recommends Novo Nordisk and Viking Therapeutics. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Eli Lilly vs. Viking Therapeutics Stock: Which Is the Best Growth Opportunity, According to Wall Street?

Novo Nordisk NVO and Omeros Corporation OMER have announced the signing of a definitive asset purchase and license agreement for zaltenibart (formerly OMS906), a clinical-stage candidate targeting rare blood and kidney disorders.
Under the agreement, Novo Nordisk will receive exclusive worldwide rights to develop and commercialize zaltenibart across all indications. Omeros will receive approximately $340 million in upfront and near-term milestone payments, with the total deal value reaching up to $2.1 billion, contingent on the achievement of certain development and commercial milestones. The agreement also includes tiered royalty payments to Omeros based on potential future net sales of the drug. Shares of OMER skyrocketed 154.2% on Wednesday following the news.
NVO’s Zaltenibart Acquisition Deal With OMER in Detail
Zaltenibart is an investigational monoclonal antibody designed to inhibit MASP-3, a key upstream activator of the complement system’s alternative pathway and a critical component of innate immunity. Dysregulation of this pathway plays a critical role in several rare diseases, making MASP-3 an attractive therapeutic target. By acting at this early stage of the pathway, zaltenibart has the potential to offer significant advantages over existing treatments that target downstream components, such as C3 or C5.
Omeros has already reported encouraging phase II results for zaltenibart in paroxysmal nocturnal hemoglobinuria (PNH), a rare blood disorder characterized by immune-mediated destruction of red blood cells. The therapy has demonstrated strong efficacy, good tolerability and a favorable safety profile, differentiating it from other alternative pathway inhibitors currently in development or on the market.
Novo Nordisk plans to build on this clinical foundation by launching a global phase III program of zaltenibart to treat PNH. NVO also expects to later expand into additional rare blood and kidney disorders indications for this candidate, including immunoglobulin A nephropathy, C3 glomerulopathy and atypical hemolytic uremic syndrome, and other immune and complement-driven disorders. The company sees zaltenibart as a strategic fit to strengthen its leadership in the rare disease segment and drive long-term portfolio growth.
Year to date, NVO shares have plunged 34% against the industry’s 5.4% growth.
Image Source: Zacks Investment Research
Through this deal, Omeros seeks to leverage NVO’s vast resources, global reach and extensive expertise in the rare disease segment to further advance its zaltenibart program. OMER will, however, retain rights to its preclinical MASP-3 programs outside zaltenibart, enabling further development of small-molecule MASP-3 inhibitors for select indications. The transaction remains subject to customary closing conditions, including regulatory approvals, and is expected to close in the fourth quarter of 2025.
If successfully developed and commercialized, zaltenibart could emerge as a differentiated, potentially best-in-class therapy for multiple complement-mediated disorders, offering a new treatment approach while preserving critical immune functions tied to vaccine responses and infection defense.
Novo Nordisk A/S Price and Consensus
The Rationale Behind NVO’s Zaltenibart Acquisition From OMER
Novo Nordisk has achieved tremendous commercial success with its blockbuster semaglutide (GLP-1) products, Wegovy (obesity) and Ozempic (diabetes). However, the company’s growth trajectory has suffered recently.
In July 2025, NVO revised its sales and profit outlook for the year, reflecting slower-than-expected uptake for Wegovy and Ozempic, due to intensifying competition from arch-rival Eli Lilly LLY and compounded semaglutide alternatives in its largest obesity market, the United States. Eli Lilly’s tirzepatide-based drugs, Mounjaro (diabetes) and Zepbound (obesity), have captured rapid demand and market share, pressuring NVO’s position in both obesity and diabetes markets. Despite being on the market for less than three years, both drugs have become LLY’s key top-line drivers. In the first half of 2025, they generated combined sales of $14.7 billion, accounting for 52% of Eli Lilly’s total revenues.
Several other companies, like Viking Therapeutics VKTX, are also making rapid progress in the development of GLP-1-based candidates in their clinical pipeline. Viking Therapeutics’ dual GIPR/GLP-1 RA, VK2735, is being developed both as oral and subcutaneous formulations for the treatment of obesity. In August 2025, VKTX announced mixed top-line results from a mid-stage study evaluating the safety and efficacy of the oral formulation of VK2735, which caused the stock to drop significantly. Phase III obesity studies with the subcutaneous formulation of VK2735 have also been initiated.
Given these challenges, Novo Nordisk has been working to lessen its reliance on GLP-1 drugs as its primary revenue driver through a diversified pipeline of rare disease treatment candidates. The latest asset purchase and license agreement with Omeros furthers this agenda.
NVO’s Zacks Rank
Novo Nordisk currently carries a Zacks Rank #5 (Strong Sell).
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

NVO, OMER Ink $2.1B Zaltenibart Deal to Bolster Rare Disease Portfolio

So far this year, Eli Lilly (NYSE: LLY) has been on an absolute tear and is swiftly becoming the world's most prolific pharmaceutical operation in my eyes. In addition to the unprecedented growth of its diabetes and obesity care treatments, Lilly has also secured some major wins from the Food and Drug Administration (FDA), including approval for both its Alzheimer's disease candidate and eczema drug.
While it looks like Lilly may be entering yet a new growth period, there's a lingering competitive threat looming in the background -- and I'm not talking about Novo Nordisk.
Viking Therapeutics (NASDAQ: VKTX) is a clinical-stage pharma company that's been eyeing the weight loss market for some time now. During its third-quarterearnings calla few weeks ago, Viking's management revealed some interesting information -- and if I were an executive at Lilly, I'd be listening closely.
Below, I'll break down what's going on at Viking and explain how the company may emerge as a competitive force in the weight loss realm.
Did Viking just outsmart Lilly?
Right now, Viking does not have any treatments that are formally approved by the FDA. Nevertheless, the company's lead obesity candidate, VK2735, has garnered a lot of attention and is widely considered to be one of the more legitimate medications that could disrupt mainstream wight loss treatments should it receive approval.
Viking is testing VK2735 in both an injectable and oral formulation. According to the company's latest update, the injectable form of VK2735 appears to be moving toward a phase 3 clinical trial sometime later this year. Similar to Lilly's weight loss treatments (Mounjaro and Zepbound), VK2735 is a dual glucagon-like peptide 1 (GLP-1) and glucose-dependent insulinotropic peptide (GIP) receptor agonist.
However, during the company's third-quarter financial update, Viking's management dropped some breadcrumbs about a new development in the pipeline that could deliver a major blow to Lilly. Namely, Viking is in the early stages of a new clinical effort focusing on a dual agonist featuring the amylin and calcitonin receptors. Amylin is a hormone that helps regulate blood sugar levels and control appetite, while calcitonin is a metabolic hormone.
During the company'searnings call Viking CEO Brian Lian told investors that one of the goals from the dual amylin-calcitonin agonist is to "combine it successfully with VK2735 or other things in the pipeline."
In essence, Viking could be in the early stages of developing a quadruple-pathway weight loss drug featuring the GLP-1/GIP-1 receptors in VK2735 in combination with a new agonist featuring amylin and calcitonin hormones.
Why should Eli Lilly care?
As I alluded to above, Lilly's Mounjaro and Zepbound are dual agonists for GLP-1 and GIP-1 receptors. However, the company has also been working on another obesity drug called retatrutide, which is classified as a triagonist that targets the GLP-1, GIP-1, and glucagon hormones.
During Viking's third-quarterearnings call Lian explained that the amylin program will likely be most beneficial "in conjunction with another mechanism" because "what you see is a real nice improvement in efficacy when you add it on top of another mechanism. With a GLP-1, you see a 50% bump or so. So if you were to add it on to a dual agonist, and it showed a similar improvement, that would likely be the best in the industry efficacy profile."
The idea here is that Viking's quadruple combination may have a leg up on Lilly's triagonist approach. If this winds up being the case, Viking's differentiated obesity treatment could put it on a fast track to gain market share in the weight loss space and slow down Lilly's momentum.
Keep this in mind
On the surface, you might think that Viking is on the verge of some major disruption. But as I often encourage investors to do, it's important to zoom out and think about the big picture.
Remember, Viking has yet to receive FDA approval for any of its weight loss treatments. And while the combination of VK2735 with another dual receptor is intriguing, this pursuit will require a lot of time-consuming and expensive clinical testing and research over the course of several years.
At the end of the day, I would not be worried just yet if I were in Lilly's position.
Should you invest $1,000 in Viking Therapeutics right now?
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Adam Spatacco has positions in Eli Lilly. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Did Viking Therapeutics Just Say "Checkmate" To Eli Lilly?

Key Points
Viking Therapeutics is nearing the finish line with a candidate for weight loss -- to potentially enter a drug market that’s approaching $100 billion.
This biotech has candidates in phase 2 and phase 3 trials, and data so far are promising.
Viking Therapeutics (NASDAQ: VKTX) soared to the forefront almost two years ago when it announced data on an investigational drug to serve an area of high need: weight loss. The biotech's candidate met the goals of its phase 2 trial, bringing it a step closer to entering this market that analysts say may approach $100 billion by the end of this decade.
Viking's stock surged more than 100% in one trading session after announcing its clinical trial progress and as investors speculated that it would be the next to challenge weight loss market leaders Novo Nordisk and Eli Lilly -- or be acquired by a company eager to get into this lucrative space.
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Since, though, the stock progressively has lost those gains, and over the past year, it's declined 44%. Meanwhile, Viking's weight loss program -- the injectable I mentioned above and an oral version -- continues to deliver promising results, keeping the company on track to commercialization. Does this make Viking a buy on the dip? Let's find out.
GLP-1 drugs
Viking's candidates are part of classes of drugs that have everyone talking these days -- GLP-1 agonists and dual GIP/GLP-1 receptor agonists. These drugs interact with hormonal pathways involved in the control of appetite and the management of blood sugar levels.
Today's commercialized products, from Novo Nordisk's semaglutide to Lilly's tirzepatide, originally were developed for type 2 diabetes but since have shown themselves to excel -- in clinical trials and then in the real world -- as a weight loss treatment too. So, these current drugs are approved under one name for type 2 diabetes and another name for weight management -- in the case of Lilly, these are Mounjaro and Zepbound, respectively.
Viking is developing VK2735, its dual GIP/GLP-1 receptor agonist, in injectable form -- like current marketed weight treatments -- and it's also working on an oral version. The former is involved in a phase 3 trial right now and the latter is in phase 2.
It's difficult to directly compare VK2735's performance to today's commercialized products since trial parameters and the real-world context don't offer us an "apples to apples" sort of view. But the candidate's performance so far has been promising: In the phase 2 study, participants achieved average weight loss of as much as 14.7% after 13 weeks of dosing. And in the phase 2 dosing trial of the oral candidate, weight loss averaged up to 12.2% after 13 weeks.
Potential rivals for today's weight loss drugs
If the candidates continue to maintain similar numbers in their current trials, they could represent potential rivals for today's market leaders. And considering the injectable candidate is involved in a phase 3 trial right now, it could reach the finish line within the next few years. Meanwhile, another reason to be optimistic about Viking is the potential for this company to receive an interesting acquisition offer or partnership. Bigger pharma players, eager to get in on the booming weight loss space, could snap up smaller players -- and this has happened recently. For example, Pfizer last month announced its intention to buy biotech Metsera for its pipeline of investigational obesity products.
Of course, Viking does come with some risks. Like all biotech players that haven't yet commercialized a drug, any disappointment in the clinical trial stage could severely hurt stock performance. Also, if and when Viking's weight loss candidate reaches the market, it will face competition -- and today's big pharma competitors have the first-to-market advantage as well as resources like production and sales experience and a recently expanded manufacturing footprint.
Room for more than one winner
That said, I'm not too worried about competition due to the high demand in this market -- there is enough need for these treatments to support growth at more than one or two drugmakers. Novo Nordisk and Lilly last year both saw their products on drug shortage lists until they significantly ramped up production.
Now, let's get back to our question: Is Viking a buy on the dip? As mentioned, Viking faces some risks, so it may not be the best choice for a cautious investor -- in this case, a solid pharma company might make a better buy. But for investors who can tolerate some risk, now, with the shares down more than 40%, is a great time to get in on Viking and hold -- in just a few years from now, it could become a successful player in the billion-dollar weight loss market, and the stock price could soar.
Should you invest $1,000 in Viking Therapeutics right now?
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Adria Cimino has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Pfizer. The Motley Fool recommends Novo Nordisk and Viking Therapeutics. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Down 44%, Should You Buy the Dip on Viking Therapeutics?

Key Points
Two gene-editing companies are advancing therapies, with one generating commercial sales and both approaching major regulatory milestones.
An AI drug discovery company is approaching multiple trial readouts in late 2025 that could validate its platform and pharma partnerships.
An obesity treatment company saw its stock decline after oral formulation data, but its injectable candidate continues to show strong results.
Healthcare stocks have struggled since interest rates began climbing in 2022. Rising yields pulled capital away from speculative biotech and drug development, pushing valuations lower even as research pipelines advanced. Many promising companies now trade at a fraction of their previous highs, while investors pour money into artificial intelligence (AI) names trading at record multiples.
That gap creates opportunity. Several healthcare innovators are approaching pivotal stages of development, yet their share prices still reflect caution rather than potential. These four healthcare stocks stand out as timely buys in a market that has overlooked their progress.
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Commercial momentum building
Crispr Therapeutics (NASDAQ: CRSP) and Vertex Pharmaceuticals (NASDAQ: VRTX) developed Casgevy, the first gene-editing treatment approved for sickle cell disease and beta-thalassemia, two inherited blood disorders.
Vertex reported $30 million in Casgevy sales in the second quarter of 2025, a sharp uptick from prior quarters, showing the drug is starting to gain traction in the marketplace. Crispr receives 40% of the program's profits through its partnership with Vertex.
By mid-2025, 75 hospitals and clinics worldwide had been cleared to administer Casgevy, and approximately 115 patients had begun the treatment process. As more centers gain experience, patient numbers and sales are expected to grow through 2025 and 2026.
Outside of Casgevy, Crispr is working on several new treatments it fully owns, such as CTX112, a cell-based therapy in early testing for cancer and immune diseases. Results from CTX112 or other key pipeline candidates in late 2025 could provide a boost to the stock if the data show clear progress.
Late-stage catalysts approaching
Intellia Therapeutics (NASDAQ: NTLA) is advancing two CRISPR gene-editing programs toward key readouts. It recently completed enrollment in its Phase 3 study for hereditary angioedema, a rare disease that causes sudden swelling attacks, using a treatment called lonvoguran ziclomeran (NTLA-2002). Topline results are expected in the first half of 2026, with a regulatory filing planned later that year.
Intellia is also pushing forward with its program for ATTR amyloidosis, a disease in which abnormal proteins build up and damage the heart and nerves, using a treatment called nex-z (NTLA-2001). A pivotal trial is underway, and earlier testing showed that a single dose can reduce the TTR protein by approximately 91% in many patients, with data showing sustained reductions over time.
If both programs succeed, Intellia could become one of the first companies to win approval for a single-dose, in vivo CRISPR therapy (where gene editing happens directly inside the body) -- a potential breakthrough that could lift investor expectations and reset how gene-editing companies are valued.
Platform plays with pharma validation
Recursion Pharmaceuticals (NASDAQ: RXRX) runs a drug discovery platform powered by AI and backed by big pharma partnerships such as Sanofi, Roche, and Bayer. In its latest results, the company pulled in $19.2 million in revenue -- primarily from collaborations.
Several clinical trial updates are expected later in 2025. If those trials show its AI-discovered drugs perform well in patients, the market may begin valuing its individual programs more favorably -- and that could unlock significant upside for the stock.
Viking Therapeutics (NASDAQ: VKTX) is advancing VK2735, a dual GLP-1/GIP agonist, through late-stage development for obesity. In its mid-stage study, the injectable version produced up to 14.7% average weight loss after 13 weeks and is now being tested in a large late-stage trial across obesity and type 2 diabetes populations.
The stock declined in August 2025 after results from the oral formulation showed higher dropout rates caused by gastrointestinal side effects from rapid dose escalation. The findings reflected how the drug was given, not an underlying problem with the compound.
With a slower titration schedule, tolerability could improve meaningfully. Both the injectable and oral versions remain key to Viking's obesity strategy, positioning the company to compete in a market expected to exceed $100 billion in annual sales.
Should you invest $1,000 in CRISPR Therapeutics right now?
Before you buy stock in CRISPR Therapeutics, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and CRISPR Therapeutics wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $657,979!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,122,746!*
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*Stock Advisor returns as of October 7, 2025
George Budwell has positions in CRISPR Therapeutics and Viking Therapeutics and has the following options: long January 2027 $100 calls on Viking Therapeutics and long January 2027 $60 calls on Viking Therapeutics. The Motley Fool has positions in and recommends CRISPR Therapeutics, Intellia Therapeutics, and Vertex Pharmaceuticals. The Motley Fool recommends Roche Holding AG and Viking Therapeutics. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.