Viking Therapeutics, Inc. (NASDAQ:VKTX) Receives Average Recommendation of “Moderate Buy” from Analysts

Viking Therapeutics, Inc. (NASDAQ:VKTX) has earned an average recommendation of “Moderate Buy” from the thirteen brokerages that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, five have given a buy recommendation and four have assigned a strong buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $87.80.

Several equities research analysts have issued reports on VKTX shares. Canaccord Genuity Group increased 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. Weiss Ratings reiterated a “sell (d-)” rating on shares of Viking Therapeutics in a research report on Wednesday, January 21st. Zacks Research upgraded Viking Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Wednesday, February 18th. Morgan Stanley reissued an “overweight” rating and set a $99.00 price objective on shares of Viking Therapeutics in a report on Thursday, February 12th. Finally, BTIG Research upgraded Viking Therapeutics to a “strong-buy” rating in a research note on Thursday, February 26th.

Viking Therapeutics Stock Up 4.7%

NASDAQ VKTX opened at $32.98 on Friday. The firm has a market cap of $3.81 billion, a P/E ratio of -10.37 and a beta of 0.75. The company’s 50 day moving average is $31.85 and its 200-day moving average is $32.18. Viking Therapeutics has a 12-month low of $18.92 and a 12-month high of $43.15.

Viking Therapeutics (NASDAQ:VKTX) last released its quarterly earnings data on Wednesday, February 11th. The biotechnology company reported ($1.38) EPS for the quarter, missing the consensus estimate of ($0.89) by ($0.49). During the same period in the prior year, the company earned ($0.32) EPS. Equities analysts expect that Viking Therapeutics will post -1.56 EPS for the current year.

Insider Buying and Selling

In related news, CFO Greg Zante sold 57,661 shares of the company’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 transaction of $1,897,046.90. Following the sale, the chief financial officer owned 189,891 shares of the company’s stock, valued at approximately $6,247,413.90. This represents a 23.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Matthew W. Foehr sold 16,000 shares of the company’s stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $35.11, for a total transaction of $561,760.00. Following the sale, the director directly owned 132,036 shares in the company, valued at $4,635,783.96. This trade represents a 10.81% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 364,731 shares of company stock valued at $12,053,627. Corporate insiders own 4.10% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of VKTX. Allworth Financial LP increased its holdings in shares of Viking Therapeutics by 58.4% in the second quarter. Allworth Financial LP now owns 955 shares of the biotechnology company’s stock worth $25,000 after purchasing an additional 352 shares during the period. Elevation Point Wealth Partners LLC purchased a new stake in shares of Viking Therapeutics in the second quarter worth $29,000. Golden State Wealth Management LLC bought a new stake in Viking Therapeutics during the third quarter valued at $30,000. Raleigh Capital Management Inc. boosted its stake in Viking Therapeutics by 58.0% during the fourth quarter. Raleigh Capital Management Inc. now owns 945 shares of the biotechnology company’s stock valued at $33,000 after buying an additional 347 shares during the period. Finally, Quattro Advisors LLC purchased a new position in Viking Therapeutics during the fourth quarter worth about $37,000. 76.03% of the stock is owned by institutional investors.

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.