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

Viking Therapeutics, Inc. (NASDAQ:VKTX) has received a consensus recommendation of “Moderate Buy” from the sixteen ratings firms that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, nine have issued a buy recommendation and three have issued a strong buy recommendation on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $87.1429.

A number of brokerages have issued reports on VKTX. Cantor Fitzgerald set a $105.00 price target on shares of Viking Therapeutics in a report on Thursday, October 23rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Viking Therapeutics in a report on Wednesday, October 8th. Canaccord Genuity Group boosted their target price on Viking Therapeutics from $106.00 to $107.00 and gave the stock a “buy” rating in a research report on Wednesday, November 12th. BTIG Research reissued a “buy” rating and set a $125.00 price target on shares of Viking Therapeutics in a research note on Monday, September 22nd. Finally, JPMorgan Chase & Co. reduced their price objective on Viking Therapeutics from $80.00 to $75.00 and set an “overweight” rating on the stock in a research note on Friday, October 24th.

Insider Buying and Selling

In related news, CFO Greg Zante sold 57,661 shares of the company’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 sale, the chief financial officer owned 189,891 shares of the company’s stock, valued at $6,247,413.90. This represents a 23.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Brian Lian sold 233,409 shares of the stock in a transaction on Monday, January 5th. The shares were sold at an average price of $32.96, for a total transaction of $7,693,160.64. Following the transaction, the chief executive officer owned 2,499,291 shares of the company’s stock, valued at $82,376,631.36. This trade represents a 8.54% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 476,090 shares of company stock valued at $15,985,782 in the last three months. Corporate insiders own 4.10% of the company’s stock.

Institutional Investors Weigh In On Viking Therapeutics

Several large investors have recently added to or reduced their stakes in the stock. Allworth Financial LP lifted its stake in shares of Viking Therapeutics by 58.4% in the 2nd quarter. Allworth Financial LP now owns 955 shares of the biotechnology company’s stock valued at $25,000 after purchasing an additional 352 shares during the last quarter. Glass Jacobson Investment Advisors llc purchased a new stake in Viking Therapeutics during the 2nd quarter valued at $28,000. Elevation Point Wealth Partners LLC purchased a new stake in Viking Therapeutics during the 2nd quarter valued at $29,000. Golden State Wealth Management LLC bought a new stake in Viking Therapeutics in the third quarter worth $30,000. Finally, Aster Capital Management DIFC Ltd purchased a new position in Viking Therapeutics during the third quarter worth $38,000. 76.03% of the stock is owned by institutional investors.

Viking Therapeutics Trading Up 6.8%

NASDAQ VKTX opened at $34.05 on Friday. Viking Therapeutics has a 12 month low of $18.92 and a 12 month high of $43.15. The stock has a market cap of $3.85 billion, a PE ratio of -16.06 and a beta of 0.71. The stock’s 50 day moving average is $35.70 and its 200 day moving average is $32.64.

Viking Therapeutics (NASDAQ:VKTX) last released its quarterly earnings data on Wednesday, October 22nd. The biotechnology company reported ($0.81) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.67) by ($0.14). During the same quarter in the previous year, the company posted ($0.22) EPS. The company’s revenue was up .0% on a year-over-year basis. On average, analysts forecast 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.