Last week, we noted, “We mentioned Advanced Micro Devices (AMD) in late August, as it traded at $167.76. Then, just two weeks ago, we highlighted it as an opportunity again at $210.80.” Today, AMD is up to $263.35 and could race to higher highs.

As for new ideas, Viking Therapeutics (VKTX) is gaining momentum again. 

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For one, analysts at Canaccord initiated coverage of the obesity treatment stock with a buy rating, and a price target of $106 a share. Two, the company is seeing progress of its Phase 3 VANQUISH trial for the injectable obesity drug VK2735. As noted in a company press release, “The company expects to complete enrollment in the VANQUISH-1 study by the end of 2025, with completion of enrollment in VANQUISH-2 expected in 1Q26.”

Also, according to Brian Lian, Ph.D., CEO of Viking.  “Along with the successful initiation of the Phase 3 program we continue to make progress on VK2735’s broader development.  This includes our plans to initiate an additional clinical study to evaluate a monthly maintenance regimen, which is expected to begin later this year.  We also continue to build on the encouraging early data reported for the oral tablet formulation of VK2735 and expect to report the results of the Phase 2 VENTURE-Oral Dosing study in the second half of this year.” 

Also, there are still rumors that a company like Pfizer could potentially buy a company like this one. Especially after PFE CEO Albert Bourla said the company could seek deals to add obesity therapies to strengthen its pipeline.

Last trading at $35.66, we’d like to see shares of VKTX initially retest prior resistance at $42.23. Longer term, we’d like to see VKTX rally back to $55.

Sincerely,

Ian Cooper