Viking Therapeutics (NASDAQ:VKTX) Rating Increased to Strong-Buy at Cantor Fitzgerald

Viking Therapeutics (NASDAQ:VKTX) was upgraded by equities research analysts at Cantor Fitzgerald to a “strong-buy” rating in a research note issued on Tuesday,Zacks.com reports.

Other analysts have also issued research reports about the stock. Raymond James lifted their target price on shares of Viking Therapeutics from $122.00 to $125.00 and gave the stock a “strong-buy” rating in a report on Thursday, February 6th. Morgan Stanley decreased their price objective on shares of Viking Therapeutics from $105.00 to $102.00 and set an “overweight” rating for the company in a report on Thursday, April 24th. The Goldman Sachs Group initiated coverage on shares of Viking Therapeutics in a report on Tuesday, April 8th. They issued a “neutral” rating and a $30.00 target price on the stock. Maxim Group decreased their price target on shares of Viking Therapeutics from $120.00 to $70.00 and set a “buy” rating for the company in a report on Friday, February 7th. Finally, Citigroup assumed coverage on Viking Therapeutics in a research note on Friday, February 7th. They set a “neutral” rating and a $38.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $87.15.

Viking Therapeutics Stock Up 3.3 %

Shares of VKTX opened at $28.87 on Tuesday. The stock’s fifty day simple moving average is $26.17 and its 200-day simple moving average is $39.90. The firm has a market capitalization of $3.24 billion, a PE ratio of -28.87 and a beta of 0.84. Viking Therapeutics has a 12-month low of $18.92 and a 12-month high of $81.86.

Viking Therapeutics (NASDAQ:VKTX) last released its earnings results on Wednesday, April 23rd. The biotechnology company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.10). During the same quarter in the prior year, the business posted ($0.26) EPS. Viking Therapeutics’s revenue was up .0% on a year-over-year basis. Analysts anticipate that Viking Therapeutics will post -1.56 EPS for the current year.

Insider Activity

In related news, Director Sarah Kathryn Rouan bought 1,240 shares of the company’s stock in a transaction that occurred on Monday, March 31st. The shares were acquired at an average price of $24.15 per share, for a total transaction of $29,946.00. Following the completion of the acquisition, the director now owns 1,240 shares of the company’s stock, valued at approximately $29,946. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 4.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Viking Therapeutics

Institutional investors have recently added to or reduced their stakes in the company. Blue Trust Inc. increased its holdings in shares of Viking Therapeutics by 75.9% during the 4th quarter. Blue Trust Inc. now owns 716 shares of the biotechnology company’s stock worth $29,000 after acquiring an additional 309 shares during the last quarter. YANKCOM Partnership bought a new stake in shares of Viking Therapeutics in the fourth quarter valued at approximately $33,000. FIL Ltd lifted its position in shares of Viking Therapeutics by 116.8% during the 4th quarter. FIL Ltd now owns 1,203 shares of the biotechnology company’s stock valued at $48,000 after acquiring an additional 648 shares during the period. CIBC Private Wealth Group LLC grew its stake in Viking Therapeutics by 170.2% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,351 shares of the biotechnology company’s stock worth $55,000 after buying an additional 851 shares in the last quarter. Finally, Parallel Advisors LLC increased its stake in Viking Therapeutics by 64.8% in the first quarter. Parallel Advisors LLC now owns 1,363 shares of the biotechnology company’s stock valued at $33,000 after acquiring an additional 536 shares during the last quarter. 76.03% of the stock is currently owned by institutional investors and hedge funds.

Viking Therapeutics Company Profile

Viking Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on the development of novel therapies for metabolic and endocrine disorders. The company's lead drug candidate is VK2809, an orally available tissue and receptor-subtype selective agonist of the thyroid hormone receptor beta (TRß), which is in Phase IIb clinical trials to treat patients with biopsy-confirmed non-alcoholic steatohepatitis, as well as NAFLD.