Viking Therapeutics Shares Consolidate as Investors Await Clinical Catalyst

Shares of Viking Therapeutics are trading in a holding pattern following the company's operational achievements in late 2025. The stock is currently consolidating around the $35 level, with market participants looking ahead to the first quarter of 2026 for a potential catalyst. The prevailing sideways movement is expected to persist until the confirmation of the next significant clinical milestone.

The equity closed Friday's session at $35.42, giving the company a market capitalization of approximately $4.0 billion. From a chart perspective, the stock is undergoing a correction after last year's gains. Market analysts have identified the area between $33.50 and $34.80 as a critical support zone that must hold. To the upside, resistance is seen near $36.20, with the psychological $40 mark presenting a further barrier to any rapid advance.

A Form 144 filing dated January 2, 2026, has contributed to near-term caution. Such filings typically indicate planned share sales by company insiders or affiliated entities and often temporarily dampen sentiment among retail investors.

The Strategic Importance of VANQUISH-2

The fundamental narrative is currently dominated by clinical execution. Having successfully completed enrollment for its pivotal VANQUISH-1 obesity study ahead of schedule in November 2025, with 4,650 participants, the company's focus has now shifted to the VANQUISH-2 trial.

Should investors sell immediately? Or is it worth buying Viking Therapeutics?

This second Phase 3 study targets patients with both type-2 diabetes and obesity. Management has set a goal to finish recruiting roughly 1,100 patients within the current quarter, Q1 2026. Completing this step is strategically vital for synchronizing the data collection timelines across the broader metabolic program.

Awaiting the Next Catalyst

Despite the neutral price action, major financial institutions such as Canaccord Genuity maintain long-term price targets exceeding $100 per share. These valuations are based on the potential of the company's lead drug candidate, VK2735. The current market behavior, however, is characterized by a wait-and-see approach. In the absence of a fresh catalyst—specifically, the completion of VANQUISH-2 enrollment—the stock lacks the impetus for a decisive breakout.

For the ongoing trading week, a key focus will be whether the $33 to $35 support range can withstand broader market volatility. Analysts suggest that only a concrete announcement regarding the completion of patient recruitment is likely to generate the necessary trading volume to end the current technical stalemate.