Viking Therapeutics (NASDAQ:VKTX) Given Buy Rating at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Viking Therapeutics (NASDAQ:VKTX) in a research note issued to investors on Monday,Benzinga reports. HC Wainwright currently has a $102.00 price objective on the biotechnology company’s stock.

Other equities research analysts also recently issued reports about 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 Viking Therapeutics to a “strong-buy” rating in a report on Thursday, February 26th. Weiss Ratings restated a “sell (d-)” rating on shares of Viking Therapeutics in a report on Wednesday, January 21st. Finally, Morgan Stanley reissued an “overweight” rating and set a $99.00 target price on shares of Viking Therapeutics in a research note on Thursday, February 12th. Four analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $87.80.

Viking Therapeutics Stock Performance

Viking Therapeutics stock opened at $32.55 on Monday. Viking Therapeutics has a 52 week low of $18.92 and a 52 week high of $43.15. The firm has a market capitalization of $3.76 billion, a price-to-earnings ratio of -10.24 and a beta of 0.75. The company has a 50 day moving average price of $32.03 and a 200 day moving average price of $32.84.

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 in the prior year, the business earned ($0.32) EPS. Equities analysts forecast that Viking Therapeutics will post -1.56 earnings per share for the current fiscal year.

Insider Transactions at Viking Therapeutics

In other news, CFO Greg Zante sold 57,661 shares of the firm’s stock in a transaction 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 transaction, the chief financial officer owned 189,891 shares in the company, valued at approximately $6,247,413.90. This trade represents a 23.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Neil William Aubuchon acquired 4,475 shares of Viking Therapeutics stock in a transaction that occurred on Tuesday, March 10th. The stock was acquired at an average cost of $33.50 per share, with a total value of $149,912.50. Following the purchase, the insider owned 4,475 shares in the company, valued at $149,912.50. The trade was a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have sold a total of 364,731 shares of company stock valued at $12,053,627 in the last ninety days. 4.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Viking Therapeutics

Several institutional investors have recently bought and sold shares of VKTX. Raleigh Capital Management Inc. raised its stake 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 purchasing an additional 347 shares during the last quarter. Allworth Financial LP raised its position in shares of Viking Therapeutics by 58.4% during the second quarter. Allworth Financial LP now owns 955 shares of the biotechnology company’s stock valued at $25,000 after buying an additional 352 shares during the last quarter. Quattro Advisors LLC bought a new stake in shares of Viking Therapeutics in the fourth quarter valued at about $37,000. Fifth Third Bancorp grew its position in Viking Therapeutics by 169.3% during the fourth quarter. Fifth Third Bancorp now owns 1,077 shares of the biotechnology company’s stock worth $38,000 after buying an additional 677 shares in the last quarter. Finally, Lodestone Wealth Management LLC bought a new position in Viking Therapeutics during the fourth quarter valued at about $39,000. 76.03% of the stock is currently 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.