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

Viking Therapeutics, Inc. (NASDAQ:VKTX) has received an average recommendation of “Moderate Buy” from the fourteen research firms that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $93.60.

Several research analysts have recently commented on VKTX shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Viking Therapeutics in a report on Monday, April 20th. Truist Financial started coverage on Viking Therapeutics in a report on Wednesday, May 27th. They issued a “buy” rating and a $83.00 target price on the stock. Wolfe Research started coverage on Viking Therapeutics in a report on Thursday, March 26th. They issued a “peer perform” rating on the stock. HC Wainwright reissued a “buy” rating and issued a $102.00 target price on shares of Viking Therapeutics in a report on Monday, March 23rd. Finally, Morgan Stanley set a $95.00 target price on Viking Therapeutics in a report on Thursday, April 30th.

Viking Therapeutics Trading Up 3.1%

VKTX stock opened at $29.63 on Tuesday. Viking Therapeutics has a 1-year low of $22.96 and a 1-year high of $43.15. The firm has a market cap of $3.44 billion, a P/E ratio of -7.16 and a beta of 0.69. The business’s 50 day moving average is $31.80 and its 200-day moving average is $32.82.

Viking Therapeutics (NASDAQ:VKTX) last released its quarterly earnings data on Thursday, April 30th. The biotechnology company reported ($1.37) earnings per share for the quarter, missing the consensus estimate of ($1.01) by ($0.36). During the same quarter in the prior year, the company posted ($0.41) earnings per share. Sell-side analysts forecast that Viking Therapeutics will post -4.7 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Royal Bank of Canada lifted its holdings in Viking Therapeutics by 13.0% during the 1st quarter. Royal Bank of Canada now owns 347,716 shares of the biotechnology company’s stock worth $8,396,000 after buying an additional 39,886 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new position in Viking Therapeutics during the 1st quarter worth $230,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Viking Therapeutics by 1.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 470,028 shares of the biotechnology company’s stock worth $11,351,000 after buying an additional 6,696 shares in the last quarter. Prudential Financial Inc. acquired a new position in Viking Therapeutics during the 2nd quarter worth $196,000. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in Viking Therapeutics by 29.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,109 shares of the biotechnology company’s stock worth $56,000 after purchasing an additional 481 shares during the last quarter. 76.03% of the stock is owned by institutional investors and hedge funds.

About Viking Therapeutics

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.