Viking Therapeutics, Inc. (NASDAQ:VKTX) Given Average Recommendation of “Moderate Buy” by Brokerages

Viking Therapeutics, Inc. (NASDAQ:VKTX) has received a consensus rating of “Moderate Buy” from the sixteen brokerages that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, nine have given a buy rating and three have assigned a strong buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $87.1429.

A number of research firms have weighed in on VKTX. Morgan Stanley raised their price objective on shares of Viking Therapeutics from $98.00 to $102.00 and gave the company an “overweight” rating in a research note on Thursday, October 23rd. Canaccord Genuity Group upped their target price on shares of Viking Therapeutics from $106.00 to $107.00 and gave the stock a “buy” rating in a research note on Wednesday, November 12th. HC Wainwright reissued a “buy” rating and set a $102.00 price target on shares of Viking Therapeutics in a research report on Monday, September 29th. B. Riley upgraded shares of Viking Therapeutics to a “strong-buy” rating in a report on Thursday, October 23rd. Finally, Cantor Fitzgerald set a $105.00 price objective on Viking Therapeutics in a research report on Thursday, October 23rd.

Insider Transactions at Viking Therapeutics

In other Viking Therapeutics news, CFO Greg Zante sold 57,661 shares of the business’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $32.90, for a total value of $1,897,046.90. Following the completion of the transaction, the chief financial officer owned 189,891 shares of the company’s stock, valued at approximately $6,247,413.90. The trade was a 23.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Brian Lian sold 233,409 shares of the company’s stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $32.96, for a total transaction of $7,693,160.64. Following the transaction, the chief executive officer owned 2,499,291 shares in the company, valued at $82,376,631.36. This represents a 8.54% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 476,090 shares of company stock valued at $15,985,782. Insiders own 4.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in VKTX. Jump Financial LLC bought a new stake in shares of Viking Therapeutics during the 2nd quarter valued at $12,201,000. Norges Bank bought a new position in Viking Therapeutics in the 2nd quarter worth $46,846,000. Kingstone Capital Partners Texas LLC purchased a new stake in Viking Therapeutics in the 2nd quarter worth $1,367,000. Marex Group plc bought a new stake in Viking Therapeutics during the second quarter valued at about $983,000. Finally, U.S. Capital Wealth Advisors LLC lifted its position in shares of Viking Therapeutics by 77.7% in the second quarter. U.S. Capital Wealth Advisors LLC now owns 63,546 shares of the biotechnology company’s stock valued at $1,684,000 after acquiring an additional 27,795 shares in the last quarter. 76.03% of the stock is owned by hedge funds and other institutional investors.

Viking Therapeutics Trading Up 6.8%

Shares of NASDAQ:VKTX opened at $34.05 on Friday. The stock has a fifty day simple moving average of $35.70 and a two-hundred day simple moving average of $32.64. Viking Therapeutics has a 12-month low of $18.92 and a 12-month high of $43.15. The stock has a market capitalization of $3.85 billion, a price-to-earnings ratio of -16.06 and a beta of 0.71.

Viking Therapeutics (NASDAQ:VKTX) last issued its quarterly earnings results on Wednesday, October 22nd. The biotechnology company reported ($0.81) earnings per share for the quarter, missing the consensus estimate of ($0.67) by ($0.14). Viking Therapeutics’s revenue was up .0% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.22) earnings per share. As a group, equities research analysts predict that Viking Therapeutics will post -1.56 EPS for the current year.

Viking Therapeutics Company Profile

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.