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

Viking Therapeutics, Inc. (NASDAQ:VKTX) has been given an average rating of “Moderate Buy” by the fourteen brokerages that are covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, two have given a hold recommendation, seven have given a buy recommendation and three have issued a strong buy recommendation on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $89.3636.

A number of brokerages recently commented on VKTX. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Viking Therapeutics in a report on Wednesday, January 21st. Cantor Fitzgerald set a $105.00 price objective on shares of Viking Therapeutics in a research report on Thursday, October 23rd. Canaccord Genuity Group boosted their target price on Viking Therapeutics from $106.00 to $107.00 and gave the stock a “buy” rating in a research report on Wednesday, November 12th. Zacks Research downgraded shares of Viking Therapeutics from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 20th. Finally, B. Riley Financial raised shares of Viking Therapeutics to a “strong-buy” rating in a report on Thursday, October 23rd.

Viking Therapeutics Price Performance

VKTX opened at $28.75 on Wednesday. The stock has a 50-day moving average price of $33.62 and a 200-day moving average price of $32.65. Viking Therapeutics has a 1 year low of $18.92 and a 1 year high of $43.15. The firm has a market cap of $3.25 billion, a PE ratio of -13.56 and a beta of 0.75.

Insider Activity

In other Viking Therapeutics news, COO Marianna Mancini sold 57,661 shares of the firm’s stock in a transaction on Monday, January 5th. The stock was sold at an average price of $32.98, for a total transaction of $1,901,659.78. Following the transaction, the chief operating officer directly owned 409,190 shares in the company, valued at $13,495,086.20. This trade represents a 12.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Greg Zante sold 57,661 shares of the company’s stock in a transaction on 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 sale, the chief financial officer owned 189,891 shares of the company’s stock, valued at $6,247,413.90. This represents a 23.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 364,731 shares of company stock worth $12,053,627 over the last 90 days. Insiders own 4.10% of the company’s stock.

Institutional Investors Weigh In On Viking Therapeutics

Several hedge funds have recently modified their holdings of VKTX. Jump Financial LLC acquired a new stake in shares of Viking Therapeutics in the second quarter worth $12,201,000. Norges Bank purchased a new position in shares of Viking Therapeutics during the 2nd quarter valued at $46,846,000. RFG Advisory LLC grew its stake in Viking Therapeutics by 84.8% in the third quarter. RFG Advisory LLC now owns 120,214 shares of the biotechnology company’s stock valued at $3,159,000 after purchasing an additional 55,175 shares in the last quarter. Marex Group plc bought a new stake in shares of Viking Therapeutics in the 2nd quarter valued at approximately $983,000. Finally, Bryce Point Capital LLC bought a new stake in Viking Therapeutics in the second quarter worth approximately $499,000. Hedge funds and other institutional investors own 76.03% of the company’s stock.

About Viking Therapeutics

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.