Oppenheimer Thinks Viking Therapeutics Stock Can Soar to $120. Here's the Math Behind the Ultra-Bullish Call.
2026-10-12 11:22
•Lee Samaha •The Motley Fool
•• •• Axe Cap view
Viking Therapeutics: A US Biotech Rally with Limited SA Impact
Oppenheimer’s bullish call on Viking Therapeutics hinges on promising drug trial data but offers little for local investors beyond rand sensitivity.
Viking Therapeutics’ clinical success in developing VK2735, a potential blockbuster obesity drug, has pushed Wall Street’s expectations sharply higher. Oppenheimer’s price target lift to $120 from $28.50 signals confidence in late-stage trial results and commercial viability. However, South African investors should view this as a US biotech story first. We don’t have a direct JSE-listed proxy for Viking’s niche, and any moves will more likely impact the rand via global risk sentiment and dollar strength. A stronger US dollar risks pressuring USD/ZAR, which in turn hits import costs and inflation locally. On the other hand, a run-up in growth stocks like Viking can temporarily swell appetite for risk, helping local equities like Naspers and Prosus since they thrive on global tech narratives. I’d caution that biotech bets often hinge on regulatory outcomes, and setbacks can be brutal with shares quickly losing steam. this is just our opinion and not financial advice
Watch USD/ZAR closely amid rising US biotech optimism and hold Naspers and Prosus selectively for exposure to global tech momentum. Avoid direct biotech risk without a South African hedge.
- USD/ZAR
- Naspers
- Prosus
- Biotech regulatory failure
- US dollar strengthening sharply against ZAR
5/10
Oppenheimer analyst Jay Olson raised his price target on Viking Therapeutics to $120 from $100, implying a potential quadrupling from the current $28.50 price. The bullish call is based on positive maintenance trial data for VK2735, a GLP-1 and GIP agonist drug, which increased the probability of success from 80% to 90%. Wall Street consensus projects VK2735 could generate $1.5 billion in 2030 sales rising to $6.5 billion by 2035, potentially capturing market share from Eli Lilly's tirzepatide, which is expected to reach $80 billion in total sales by 2030.
Our take is based on reporting first published by The Motley Fool.