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

Shares of Viking Therapeutics, Inc. (NASDAQ:VKTX) have been given a consensus recommendation of “Moderate Buy” by the fourteen research firms that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, five have issued a buy rating and four have assigned a strong buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $87.80.

Several analysts have issued reports on the company. Zacks Research raised Viking Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Wednesday, February 18th. BTIG Research upgraded shares of Viking Therapeutics to a “strong-buy” rating in a report on Thursday, February 26th. HC Wainwright reaffirmed a “buy” rating and issued a $102.00 price objective on shares of Viking Therapeutics in a research note on Monday, March 23rd. Morgan Stanley reaffirmed an “overweight” rating and set a $99.00 target price on shares of Viking Therapeutics in a report on Thursday, February 12th. Finally, Wolfe Research started coverage on shares of Viking Therapeutics in a research report on Thursday, March 26th. They issued a “peer perform” rating on the stock.

Viking Therapeutics Trading Up 1.3%

Shares of NASDAQ VKTX opened at $32.96 on Thursday. The business has a 50-day moving average of $31.94 and a 200-day moving average of $33.12. The firm has a market capitalization of $3.81 billion, a price-to-earnings ratio of -10.36 and a beta of 0.75. Viking Therapeutics has a 12 month low of $18.92 and a 12 month high of $43.15.

Viking Therapeutics (NASDAQ:VKTX) last announced 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 last year, the company posted ($0.32) EPS. On average, analysts predict that Viking Therapeutics will post -1.56 earnings per share for the current year.

Insider Activity

In other news, Director Matthew W. Foehr sold 16,000 shares of the firm’s stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $35.11, for a total transaction of $561,760.00. Following the transaction, the director directly owned 132,036 shares of the company’s stock, valued at approximately $4,635,783.96. This trade represents a 10.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Greg Zante sold 57,661 shares of the business’s stock in a transaction dated 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 sale, the chief financial officer directly owned 189,891 shares of the company’s stock, valued at approximately $6,247,413.90. This trade represents a 23.29% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 364,731 shares of company stock valued at $12,053,627. Company insiders own 4.10% of the company’s stock.

Hedge Funds Weigh In On Viking Therapeutics

Large investors have recently bought and sold shares of the stock. CNB Bank grew its holdings in shares of Viking Therapeutics by 5.1% in the third quarter. CNB Bank now owns 5,756 shares of the biotechnology company’s stock worth $151,000 after purchasing an additional 279 shares during the last quarter. Raleigh Capital Management Inc. raised its holdings in Viking Therapeutics by 58.0% during the 4th 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 last quarter. Montag A & Associates Inc. boosted its position in Viking Therapeutics by 6.4% during the 3rd quarter. Montag A & Associates Inc. now owns 6,620 shares of the biotechnology company’s stock valued at $174,000 after buying an additional 400 shares during the period. E Fund Management Co. Ltd. grew its holdings in Viking Therapeutics by 2.4% in the 2nd quarter. E Fund Management Co. Ltd. now owns 17,580 shares of the biotechnology company’s stock worth $466,000 after acquiring an additional 406 shares during the last quarter. Finally, Arizona State Retirement System increased its position in shares of Viking Therapeutics by 1.3% in the third quarter. Arizona State Retirement System now owns 31,547 shares of the biotechnology company’s stock valued at $829,000 after acquiring an additional 416 shares during the period. 76.03% of the stock is owned by hedge funds and other institutional investors.

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.