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

Viking Therapeutics, Inc. (NASDAQ:VKTX) has been assigned an average rating of “Moderate Buy” from the fourteen analysts that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, four have issued a hold rating, five have given a buy rating and four have issued a strong buy rating on the company. The average 1 year price target among analysts that have covered the stock in the last year is $87.80.

VKTX has been the subject of a number of recent analyst reports. BTIG Research upgraded Viking Therapeutics to a “strong-buy” rating in a report on Thursday, February 26th. Zacks Research upgraded shares of Viking Therapeutics from a “strong sell” rating to a “hold” rating in a report on Wednesday, February 18th. Morgan Stanley reissued an “overweight” rating and set a $99.00 price objective on shares of Viking Therapeutics in a research report on Thursday, February 12th. Weiss Ratings restated a “sell (d-)” rating on shares of Viking Therapeutics in a report on Wednesday, January 21st. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $102.00 target price on shares of Viking Therapeutics in a research report on Monday, March 23rd.

Insider Buying and Selling

In other Viking Therapeutics news, CEO Brian Lian sold 233,409 shares of the company’s stock in a transaction that occurred on Monday, January 5th. The stock was 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 in the company, valued at approximately $82,376,631.36. This represents a 8.54% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Neil William Aubuchon bought 4,475 shares of the firm’s stock in a transaction dated Tuesday, March 10th. The stock was purchased at an average cost of $33.50 per share, with a total value of $149,912.50. Following the transaction, the insider directly owned 4,475 shares in the company, valued at approximately $149,912.50. This represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. Insiders sold 364,731 shares of company stock valued at $12,053,627 over the last quarter. 4.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Viking Therapeutics

Hedge funds have recently made changes to their positions in the company. CNB Bank raised its holdings in Viking Therapeutics by 5.1% in the third quarter. CNB Bank now owns 5,756 shares of the biotechnology company’s stock worth $151,000 after purchasing an additional 279 shares in the last quarter. Raleigh Capital Management Inc. lifted its position 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 acquiring an additional 347 shares during the period. Montag A & Associates Inc. grew its holdings in Viking Therapeutics by 6.4% in the third quarter. Montag A & Associates Inc. now owns 6,620 shares of the biotechnology company’s stock worth $174,000 after purchasing an additional 400 shares during the period. E Fund Management Co. Ltd. grew its holdings in Viking Therapeutics by 2.4% in the second quarter. E Fund Management Co. Ltd. now owns 17,580 shares of the biotechnology company’s stock worth $466,000 after purchasing an additional 406 shares during the period. Finally, Arizona State Retirement System increased its stake in shares of Viking Therapeutics by 1.3% during the third quarter. Arizona State Retirement System now owns 31,547 shares of the biotechnology company’s stock valued at $829,000 after purchasing an additional 416 shares in the last quarter. 76.03% of the stock is currently owned by institutional investors.

Viking Therapeutics Price Performance

Shares of NASDAQ:VKTX opened at $32.96 on Thursday. Viking Therapeutics has a 1 year low of $18.92 and a 1 year high of $43.15. The company has a market cap of $3.81 billion, a PE ratio of -10.36 and a beta of 0.75. The stock’s 50-day moving average is $31.94 and its 200 day moving average is $33.12.

Viking Therapeutics (NASDAQ:VKTX) last released its quarterly earnings data on Wednesday, February 11th. The biotechnology company reported ($1.38) earnings per share for the quarter, missing the consensus estimate of ($0.89) by ($0.49). During the same period last year, the firm posted ($0.32) earnings per share. Analysts expect 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.