Viking Therapeutics (NASDAQ:VKTX) Cut to “Strong Sell” at Zacks Research

Zacks Research cut shares of Viking Therapeutics (NASDAQ:VKTX) from a hold rating to a strong sell rating in a report released on Monday,Zacks.com reports.

Other analysts have also recently issued reports about the stock. HC Wainwright reissued a “buy” rating and set a $102.00 target price on shares of Viking Therapeutics in a report on Monday, March 23rd. Truist Financial assumed coverage on shares of Viking Therapeutics in a research report on Wednesday, May 27th. They set a “buy” rating and a $83.00 price objective for the company. Wolfe Research began coverage on shares of Viking Therapeutics in a report on Thursday, March 26th. They issued a “peer perform” rating on the stock. BTIG Research reissued a “buy” rating and issued a $125.00 target price on shares of Viking Therapeutics in a report on Friday, May 1st. Finally, Lake Street Capital began coverage on Viking Therapeutics in a research note on Thursday, May 28th. They issued a “buy” rating and a $89.00 target price for the company. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $93.60.

Viking Therapeutics Stock Down 1.7%

NASDAQ:VKTX opened at $37.31 on Monday. The company has a market cap of $4.33 billion, a PE ratio of -9.01 and a beta of 0.66. The business’s 50 day moving average is $33.62 and its two-hundred day moving average is $32.91. Viking Therapeutics has a 52 week low of $22.96 and a 52 week high of $43.15.

Viking Therapeutics (NASDAQ:VKTX) last issued its quarterly earnings results on Thursday, April 30th. The biotechnology company reported ($1.37) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.01) by ($0.36). During the same quarter last year, the company posted ($0.41) earnings per share. As a group, sell-side analysts expect that Viking Therapeutics will post -4.7 EPS for the current fiscal year.

Hedge Funds Weigh In On Viking Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the company. Royal Fund Management LLC acquired a new position in Viking Therapeutics during the 4th quarter worth $1,518,000. Meadowbrook Wealth Management LLC acquired a new position in shares of Viking Therapeutics during the fourth quarter valued at $1,309,000. Concurrent Investment Advisors LLC increased its holdings in shares of Viking Therapeutics by 1,624.0% during the fourth quarter. Concurrent Investment Advisors LLC now owns 281,052 shares of the biotechnology company’s stock valued at $9,887,000 after purchasing an additional 264,750 shares during the period. MH & Associates Securities Management Corp ADV acquired a new position in shares of Viking Therapeutics during the fourth quarter valued at $1,535,000. Finally, Channel Wealth LLC bought a new stake in shares of Viking Therapeutics during the fourth quarter valued at about $2,655,000. 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.