Viking Therapeutics Plunges 37.82% Despite Positive Rival News

On August 19, 2025, Viking Therapeutics experienced a significant drop of 37.82% in pre-market trading, marking a notable decline in its stock performance.

Viking Therapeutics' recent stock performance was influenced by several key factors. Positive news from a rival company, Novo Nordisk, sparked a sympathy rally for Viking Therapeutics. Novo Nordisk's obesity drug, Wegovy, received FDA approval for a new indication, noncirrhotic metabolic dysfunction-associated steatohepatitis (MASH), which boosted investor sentiment towards obesity drug developers, including Viking Therapeutics.

Additionally, a positive research note from Piper Sandler's analyst Biren Amin further improved sentiment. Amin reiterated his overweight recommendation and $71-per-share price target for Viking Therapeutics, citing the prospects for the company's investigational weight-loss drug, VK2735. The phase 3 study readout for the oral version of VK2735 is expected within the current calendar quarter, with potential sales of $2.1 billion if successful.