Wolfe Research Begins Coverage on Viking Therapeutics (NASDAQ:VKTX)

Investment analysts at Wolfe Research initiated coverage on shares of Viking Therapeutics (NASDAQ:VKTX) in a report released on Thursday, Marketbeat reports. The brokerage set a “peer perform” rating on the biotechnology company’s stock.

Several other research firms also recently commented on VKTX. BTIG Research upgraded Viking Therapeutics to a “strong-buy” rating in a research note on Thursday, February 26th. Zacks Research upgraded Viking Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Wednesday, February 18th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Viking Therapeutics in a research report on Wednesday, January 21st. Morgan Stanley reiterated an “overweight” rating and set a $99.00 price target on shares of Viking Therapeutics in a research note on Thursday, February 12th. Finally, HC Wainwright reissued a “buy” rating and issued a $102.00 price objective on shares of Viking Therapeutics in a report on Monday, March 23rd. Four 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 company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $87.80.

Viking Therapeutics Stock Performance

Shares of VKTX stock opened at $32.52 on Thursday. The firm has a market cap of $3.76 billion, a price-to-earnings ratio of -10.23 and a beta of 0.75. Viking Therapeutics has a 52 week low of $18.92 and a 52 week high of $43.15. The firm’s 50-day simple moving average is $32.05 and its two-hundred day simple moving average is $32.93.

Viking Therapeutics (NASDAQ:VKTX) last released its earnings results on Wednesday, February 11th. The biotechnology company reported ($1.38) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.49). During the same quarter in the previous year, the company earned ($0.32) EPS. Analysts forecast that Viking Therapeutics will post -1.56 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Brian Lian sold 233,409 shares of Viking Therapeutics stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $32.96, for a total value of $7,693,160.64. Following the completion of the transaction, the chief executive officer directly owned 2,499,291 shares in the company, valued at approximately $82,376,631.36. The trade was a 8.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Neil William Aubuchon bought 4,475 shares of the stock in a transaction on Tuesday, March 10th. The shares were acquired at an average cost of $33.50 per share, for a total transaction of $149,912.50. Following the acquisition, the insider directly owned 4,475 shares in the company, valued at approximately $149,912.50. This trade represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold 364,731 shares of company stock worth $12,053,627 in the last three months. Insiders own 4.10% of the company’s stock.

Institutional Trading of Viking Therapeutics

A number of institutional investors have recently added to or reduced their stakes in VKTX. Raleigh Capital Management Inc. grew its holdings 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 buying an additional 347 shares in the last quarter. Quattro Advisors LLC purchased a new stake in shares of Viking Therapeutics in the fourth quarter worth about $37,000. Fifth Third Bancorp lifted its holdings in shares of Viking Therapeutics by 169.3% in 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. Lodestone Wealth Management LLC bought a new position in shares of Viking Therapeutics in the fourth quarter valued at approximately $39,000. Finally, Elevation Point Wealth Partners LLC bought a new position in shares of Viking Therapeutics in the second quarter valued at approximately $29,000. Hedge funds and other institutional investors own 76.03% of the company’s stock.

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.