Viking Therapeutics (NASDAQ:VKTX) Coverage Initiated by Analysts at Wolfe Research

Wolfe Research assumed coverage on shares of Viking Therapeutics (NASDAQ:VKTX) in a report released on Thursday, Marketbeat.com reports. The brokerage issued a peer perform rating on the biotechnology company’s stock.

Several other equities analysts also recently issued reports on the stock. BTIG Research raised shares of Viking Therapeutics to a “strong-buy” rating in a report on Thursday, February 26th. HC Wainwright restated a “buy” rating and set a $102.00 price target on shares of Viking Therapeutics in a research report on Monday. Morgan Stanley reaffirmed an “overweight” rating and issued a $99.00 price target on shares of Viking Therapeutics in a research note on Thursday, February 12th. Zacks Research upgraded Viking Therapeutics from a “strong sell” rating to a “hold” rating in a report on Wednesday, February 18th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Viking Therapeutics in a research note on Wednesday, January 21st. Four research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $87.80.

Viking Therapeutics Price Performance

Shares of VKTX stock opened at $34.25 on Thursday. The company has a market cap of $3.96 billion, a price-to-earnings ratio of -10.77 and a beta of 0.75. The stock has a 50 day simple moving average of $32.08 and a 200-day simple moving average of $32.88. Viking Therapeutics has a 1-year low of $18.92 and a 1-year high of $43.15.

Viking Therapeutics (NASDAQ:VKTX) last released its quarterly earnings results on Wednesday, February 11th. The biotechnology company reported ($1.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.49). During the same quarter in the previous year, the business earned ($0.32) EPS. 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 firm’s stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $32.98, for a total value of $1,901,659.78. Following the transaction, the chief operating officer directly owned 409,190 shares of the company’s stock, valued at approximately $13,495,086.20. This trade represents a 12.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Greg Zante sold 57,661 shares of the business’s stock in a transaction dated Monday, January 5th. The stock was 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 $6,247,413.90. The trade was a 23.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders 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 institutional investors and hedge funds have recently made changes to their positions in VKTX. Elevation Point Wealth Partners LLC acquired a new stake in shares of Viking Therapeutics in the second quarter valued at approximately $29,000. Golden State Wealth Management LLC acquired a new position in Viking Therapeutics during the third quarter worth $30,000. Raleigh Capital Management Inc. grew its holdings in Viking Therapeutics by 58.0% in 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 in the last quarter. Quattro Advisors LLC purchased a new stake in Viking Therapeutics in the 4th quarter valued at $37,000. Finally, Aster Capital Management DIFC Ltd acquired a new stake in shares of Viking Therapeutics in the 3rd quarter worth $38,000. 76.03% of the stock is currently owned by institutional investors and hedge funds.

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.