Viking Therapeutics (NASDAQ:VKTX) Upgraded at BTIG Research

BTIG Research upgraded shares of Viking Therapeutics (NASDAQ:VKTX) to a strong-buy rating in a research note issued to investors on Thursday,Zacks.com reports.

VKTX has been the subject of several other research reports. Zacks Research raised shares of Viking Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Wednesday, February 18th. Weiss Ratings restated a “sell (d-)” rating on shares of Viking Therapeutics in a research note on Wednesday, January 21st. Morgan Stanley reaffirmed an “overweight” rating and set a $99.00 price objective on shares of Viking Therapeutics in a research note on Thursday, February 12th. Finally, Canaccord Genuity Group lifted their price objective on Viking Therapeutics from $106.00 to $107.00 and gave the company a “buy” rating in a report on Wednesday, November 12th. Four investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Viking Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $87.80.

Viking Therapeutics Price Performance

Shares of NASDAQ VKTX opened at $33.84 on Thursday. 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 $3.91 billion, a price-to-earnings ratio of -10.64 and a beta of 0.75. The firm’s 50 day simple moving average is $32.28 and its 200-day simple moving average is $32.37.

Viking Therapeutics (NASDAQ:VKTX) last issued its earnings results on Wednesday, February 11th. The biotechnology company reported ($1.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.89) by ($0.49). During the same quarter in the prior year, the firm posted ($0.32) earnings per share. Analysts anticipate that Viking Therapeutics will post -1.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

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

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.