And the good news for investors is that if this is a growth story, it’s still in its early stages. Goldman Sachs forecasts that the global anti-obesity medication market is likely to reach $95 billion by 2030 and may reach $120 billion by 2035.

With that in mind, investors should keep an eye on a trio of obesity stocks: Eli Lilly & Co. (NYSE: LLY), Viking Therapeutics (NASDAQ: VKTX), and Structure Therapeutics (NASDAQ: GPCR).

Obesity Stocks to Buy: Eli Lilly & Co.

Eli Lilly & Co. had the distinction of joining the exclusive club of stocks with a $1 trillion market cap. As of this writing, the stock has fallen back from that perch, but based on its commanding leadership in the GLP-1 market, it will likely reclaim that distincition soon.

LLY stock is up 33.8% in 2025. And recent price targets suggest there’s more growth to come.

Analysts at Bank of America reiterated a buy rating on Eli Lilly with a price target of $1,286 from $950. The firm states that Eli Lilly remains in first place in the obesity and diabetes market with its current GLP-1 franchise, Zepbound/Mounjaro. The firm also believes Eli Lilly will launch its new oral medication for obesity in early 2026, rather than later in the year.

Obesity Stocks to Buy: Viking Therapeutics

Viking Therapeutics stock is down 12% in 2025. However, it’s climbed over 31% in the three months ending December 3. With the stock trading at $35.41, VKTX could explode even higher.

In fact, analysts have a consensus price target of $87.14 on VKTX stock, a gain of nearly 149% from its current level. Hitting that target will be contingent on the company seeing further positive results with its obesity trials.  

Recently, VKTX initiated its VANQUISH Phase 3 clinical program for VK2735, the company’s dual agonist of the glucagon-like peptide 1 (GLP-1) and glucose-dependent insulinotropic polypeptide (GIP) receptors. The company is also making progress with both oral and subcutaneous formulations for the potential treatment.

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.” 

Adding to investor enthusiasm are 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.

Obesity Stocks to Buy: Structure Therapeutics 

Structure Therapeutics may appeal to investors who have an appetite for the volatility that comes with small-cap stocks. The distinction between Structure Therapeutics and the other obesity stocks on this list is that it’s a clinical-stage company. That means it doesn’t have a product that’s commercially available.

It also means that the company is not profitable and has very little revenue. However, buying clinical-stage biopharmaceutical stocks can be like buying a lottery ticket. If it hits, they can be very profitable.

The company recently reported positive topline data from its Phase 2a obesity study of GSBR-1290, which “demonstrated a clinically meaningful and statistically significant placebo-adjusted mean weight loss of 6.2% at 12 weeks,” according to a company press release.

GPCR is also on track to initiate a 36-week Phase 2b study of GSBR-1290 in the fourth quarter of the year. Should it continue to show solid progress, shares of GPCR could easily push aggressively higher.