Viking Therapeutics, Inc. (NASDAQ:VKTX) Receives $89.36 Average PT from Analysts

by · The Markets Daily

Viking Therapeutics, Inc. (NASDAQ:VKTXGet Free Report) has been given a consensus rating of “Moderate Buy” by the thirteen ratings firms that are covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, six have assigned a buy rating and three have issued a strong buy rating on the company. The average 1-year target price among brokers that have covered the stock in the last year is $87.80.

A number of research analysts have commented on the company. Zacks Research lowered Viking Therapeutics from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 20th. B. Riley Financial upgraded Viking Therapeutics to a “strong-buy” rating in a report on Thursday, October 23rd. Canaccord Genuity Group lifted their price target on shares of Viking Therapeutics from $106.00 to $107.00 and gave the company a “buy” rating in a report on Wednesday, November 12th. Morgan Stanley restated an “overweight” rating and issued a $99.00 price objective on shares of Viking Therapeutics in a report on Thursday. Finally, JPMorgan Chase & Co. cut their target price on shares of Viking Therapeutics from $80.00 to $75.00 and set an “overweight” rating on the stock in a research note on Friday, October 24th.

Check Out Our Latest Stock Report on Viking Therapeutics

Insider Transactions at Viking Therapeutics

In related news, COO Marianna Mancini sold 57,661 shares of the company’s stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $32.98, for a total value of $1,901,659.78. Following the sale, the chief operating officer owned 409,190 shares in the company, valued at $13,495,086.20. This represents a 12.35% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Greg Zante sold 57,661 shares of the firm’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $32.90, for a total value of $1,897,046.90. Following the transaction, the chief financial officer directly owned 189,891 shares of the company’s stock, valued at approximately $6,247,413.90. This trade represents a 23.29% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 364,731 shares of company stock valued at $12,053,627. Insiders own 4.10% of the company’s stock.

Institutional Investors Weigh In On Viking Therapeutics

Institutional investors have recently modified their holdings of the stock. Royal Bank of Canada raised its position in shares of Viking Therapeutics by 13.0% in the 1st quarter. Royal Bank of Canada now owns 347,716 shares of the biotechnology company’s stock worth $8,396,000 after purchasing an additional 39,886 shares during the last quarter. Integrated Wealth Concepts LLC bought a new stake in Viking Therapeutics during the 1st quarter valued at about $230,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Viking Therapeutics by 1.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 470,028 shares of the biotechnology company’s stock worth $11,351,000 after buying an additional 6,696 shares during the last quarter. KLP Kapitalforvaltning AS lifted its stake in shares of Viking Therapeutics by 9.2% in the second quarter. KLP Kapitalforvaltning AS now owns 22,600 shares of the biotechnology company’s stock worth $599,000 after buying an additional 1,900 shares in the last quarter. Finally, Blue Trust Inc. grew its holdings in shares of Viking Therapeutics by 27.2% during the second quarter. Blue Trust Inc. now owns 2,476 shares of the biotechnology company’s stock valued at $66,000 after buying an additional 529 shares during the last quarter. 76.03% of the stock is owned by hedge funds and other institutional investors.

Viking Therapeutics Stock Down 4.9%

NASDAQ:VKTX opened at $29.00 on Wednesday. The firm has a market capitalization of $3.35 billion, a P/E ratio of -9.12 and a beta of 0.76. The company has a fifty day moving average of $33.13 and a 200 day moving average of $32.57. Viking Therapeutics has a 52 week low of $18.92 and a 52 week high of $43.15.

Viking Therapeutics (NASDAQ:VKTXGet Free Report) last released its quarterly earnings data on Wednesday, February 11th. The biotechnology company reported ($1.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.49). During the same quarter in the previous year, the firm posted ($0.32) EPS. As a group, analysts anticipate that Viking Therapeutics will post -1.56 EPS for the current year.

Viking Therapeutics News Summary

Here are the key news stories impacting Viking Therapeutics this week:

About Viking Therapeutics

(Get Free Report)

Viking Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the development of novel therapies for metabolic and endocrine disorders. Headquartered in San Diego, California, the company’s pipeline leverages small-molecule approaches to target hormone signaling pathways implicated in conditions such as non‐alcoholic steatohepatitis (NASH), dyslipidemia, type 2 diabetes and muscle wasting disorders.

The company’s lead programs include VK2809, a thyroid hormone receptor‐beta agonist designed to reduce liver fat and improve lipid profiles in patients with NASH and dyslipidemia, and VK5211, a selective androgen receptor modulator (SARM) aimed at enhancing muscle mass and function in individuals with muscle wasting conditions.

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