Viking Therapeutics, Inc. (NASDAQ:VKTX) Receives Average Recommendation of “Moderate Buy” from Analysts

Viking Therapeutics, Inc. (NASDAQ:VKTX) has earned a consensus recommendation of “Moderate Buy” from the sixteen analysts that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation, nine have assigned a buy recommendation and three have issued a strong buy recommendation on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $87.1429.

Several research analysts recently issued reports on the stock. JPMorgan Chase & Co. dropped their price target on shares of Viking Therapeutics from $80.00 to $75.00 and set an “overweight” rating for the company in a research report on Friday, October 24th. BTIG Research reiterated a “buy” rating and issued a $125.00 price objective on shares of Viking Therapeutics in a research report on Monday, September 22nd. B. Riley upgraded shares of Viking Therapeutics to a “strong-buy” rating in a research report on Thursday, October 23rd. Zacks Research upgraded Viking Therapeutics from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 19th. Finally, Morgan Stanley lifted their price target on shares of Viking Therapeutics from $98.00 to $102.00 and gave the stock an “overweight” rating in a research report on Thursday, October 23rd.

Insider Activity at Viking Therapeutics

In other news, CFO Greg Zante sold 6,185 shares of the business’s stock in a transaction on Tuesday, October 28th. The shares were sold at an average price of $35.00, for a total value of $216,475.00. Following the sale, the chief financial officer owned 173,592 shares of the company’s stock, valued at $6,075,720. The trade was a 3.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Brian Lian sold 38,989 shares of the stock in a transaction on Tuesday, October 28th. The stock was sold at an average price of $35.01, for a total transaction of $1,365,004.89. Following the transaction, the chief executive officer owned 2,419,109 shares of the company’s stock, valued at $84,693,006.09. The trade was a 1.59% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 111,359 shares of company stock worth $3,932,155 over the last three months. 4.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Viking Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in VKTX. FNY Investment Advisers LLC grew its holdings in shares of Viking Therapeutics by 45.5% in the 3rd quarter. FNY Investment Advisers LLC now owns 11,628 shares of the biotechnology company’s stock valued at $305,000 after acquiring an additional 3,636 shares in the last quarter. IFP Advisors Inc boosted its position in Viking Therapeutics by 12.7% during the third quarter. IFP Advisors Inc now owns 58,496 shares of the biotechnology company’s stock valued at $1,651,000 after purchasing an additional 6,571 shares during the last quarter. Wilmington Savings Fund Society FSB boosted its position in Viking Therapeutics by 42.9% during the third quarter. Wilmington Savings Fund Society FSB now owns 10,000 shares of the biotechnology company’s stock valued at $263,000 after purchasing an additional 3,000 shares during the last quarter. Advisory Services Network LLC grew its stake in Viking Therapeutics by 90.1% in the third quarter. Advisory Services Network LLC now owns 36,192 shares of the biotechnology company’s stock valued at $951,000 after purchasing an additional 17,158 shares in the last quarter. Finally, Woodline Partners LP increased its position in shares of Viking Therapeutics by 0.3% during the 3rd quarter. Woodline Partners LP now owns 301,994 shares of the biotechnology company’s stock worth $7,936,000 after purchasing an additional 797 shares during the last quarter. 76.03% of the stock is owned by institutional investors.

Viking Therapeutics Trading Up 0.6%

Shares of VKTX stock opened at $35.40 on Tuesday. The firm’s fifty day simple moving average is $36.05 and its 200 day simple moving average is $31.77. The firm has a market capitalization of $4.00 billion, a P/E ratio of -16.70 and a beta of 0.65. Viking Therapeutics has a 1 year low of $18.92 and a 1 year high of $43.55.

Viking Therapeutics (NASDAQ:VKTX) last released its earnings results on Wednesday, October 22nd. The biotechnology company reported ($0.81) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.14). During the same period last year, the business earned ($0.22) earnings per share. Viking Therapeutics’s revenue for the quarter was up .0% on a year-over-year basis. Equities research analysts anticipate that Viking Therapeutics will post -1.56 EPS for the current fiscal year.

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.