Viking Therapeutics (NASDAQ:VKTX) Given “Strong-Buy” Rating at Raymond James

Raymond James reiterated their strong-buy rating on shares of Viking Therapeutics (NASDAQ:VKTXFree Report) in a research report sent to investors on Tuesday morning, Benzinga reports.

VKTX has been the subject of a number of other research reports. Oppenheimer boosted their target price on Viking Therapeutics from $116.00 to $138.00 and gave the company an outperform rating in a research note on Tuesday, March 26th. Truist Financial reiterated a buy rating and set a $120.00 target price on shares of Viking Therapeutics in a research note on Thursday, May 16th. StockNews.com raised Viking Therapeutics to a sell rating in a report on Friday, May 31st. William Blair reissued an outperform rating on shares of Viking Therapeutics in a report on Friday, February 23rd. Finally, Jefferies Financial Group initiated coverage on Viking Therapeutics in a report on Thursday, March 7th. They issued a buy rating and a $110.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average price target of $112.38.

Read Our Latest Stock Report on Viking Therapeutics

Viking Therapeutics Stock Performance

Shares of NASDAQ VKTX opened at $56.23 on Tuesday. The stock has a market cap of $6.20 billion, a PE ratio of -60.46 and a beta of 1.05. Viking Therapeutics has a fifty-two week low of $8.28 and a fifty-two week high of $99.41. The stock has a fifty day moving average of $70.95 and a 200-day moving average of $46.90.

Viking Therapeutics (NASDAQ:VKTXGet Free Report) last posted its quarterly earnings data on Wednesday, April 24th. The biotechnology company reported ($0.26) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.01. During the same period in the previous year, the firm earned ($0.25) earnings per share. On average, sell-side analysts predict that Viking Therapeutics will post -1.08 EPS for the current year.

Insiders Place Their Bets

In other Viking Therapeutics news, CFO Greg Zante sold 66,756 shares of Viking Therapeutics stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $74.69, for a total value of $4,986,005.64. Following the transaction, the chief financial officer now directly owns 174,854 shares of the company’s stock, valued at $13,059,845.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Viking Therapeutics news, COO Marianna Mancini sold 281,425 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $78.66, for a total value of $22,136,890.50. Following the sale, the chief operating officer now directly owns 348,508 shares of the company’s stock, valued at $27,413,639.28. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Greg Zante sold 66,756 shares of the company’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $74.69, for a total transaction of $4,986,005.64. Following the completion of the sale, the chief financial officer now directly owns 174,854 shares in the company, valued at $13,059,845.26. The disclosure for this sale can be found here. 4.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of VKTX. Avoro Capital Advisors LLC acquired a new position in shares of Viking Therapeutics during the 1st quarter worth about $294,380,000. Vanguard Group Inc. raised its position in shares of Viking Therapeutics by 44.7% during the 1st quarter. Vanguard Group Inc. now owns 7,785,724 shares of the biotechnology company’s stock worth $638,429,000 after purchasing an additional 2,403,820 shares during the last quarter. Perpetual Ltd purchased a new stake in Viking Therapeutics during the 1st quarter valued at about $78,586,000. American Century Companies Inc. grew its stake in Viking Therapeutics by 59.6% during the 3rd quarter. American Century Companies Inc. now owns 2,202,228 shares of the biotechnology company’s stock valued at $24,379,000 after acquiring an additional 822,156 shares in the last quarter. Finally, Hood River Capital Management LLC purchased a new stake in Viking Therapeutics during the 1st quarter valued at about $55,098,000. Institutional investors and hedge funds own 76.03% of the company’s stock.

Viking Therapeutics Company Profile

(Get Free Report)

Viking Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on the development of novel therapies for metabolic and endocrine disorders. The company's lead drug candidate is VK2809, an orally available tissue and receptor-subtype selective agonist of the thyroid hormone receptor beta (TRß), which is in Phase IIb clinical trials to treat patients with biopsy-confirmed non-alcoholic steatohepatitis, as well as NAFLD.

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