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

Shares of Viking Therapeutics, Inc. (NASDAQ:VKTX) have received a consensus rating of “Buy” from the fourteen ratings firms that are currently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $87.15.

Several equities analysts have issued reports on the stock. Truist Financial restated a “buy” rating and issued a $75.00 price target (down from $95.00) on shares of Viking Therapeutics in a research report on Monday, April 28th. HC Wainwright reaffirmed a “buy” rating and set a $102.00 target price on shares of Viking Therapeutics in a research report on Thursday, April 24th. Citigroup initiated coverage on Viking Therapeutics in a research note on Friday, February 7th. They issued a “neutral” rating and a $38.00 price target for the company. Cantor Fitzgerald raised Viking Therapeutics to a “strong-buy” rating in a research note on Tuesday, April 29th. Finally, Scotiabank started coverage on Viking Therapeutics in a report on Thursday, February 13th. They issued a “sector outperform” rating and a $102.00 target price on the stock.

Viking Therapeutics Stock Down 0.9%

Shares of VKTX opened at $27.61 on Monday. The stock has a market cap of $3.10 billion, a PE ratio of -27.61 and a beta of 0.75. Viking Therapeutics has a 12-month low of $18.92 and a 12-month high of $81.73. The business has a 50-day simple moving average of $26.19 and a two-hundred day simple moving average of $37.73.

Viking Therapeutics (NASDAQ:VKTX) last released its quarterly earnings data on Wednesday, April 23rd. The biotechnology company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.31) by ($0.10). During the same quarter in the prior year, the business earned ($0.26) earnings per share. The company’s quarterly revenue was up .0% compared to the same quarter last year. On average, equities research analysts expect that Viking Therapeutics will post -1.56 EPS for the current year.

Insiders Place Their Bets

In other news, Director Sarah Kathryn Rouan bought 1,240 shares of the firm’s stock in a transaction that occurred on Monday, March 31st. The stock was acquired at an average cost of $24.15 per share, with a total value of $29,946.00. Following the transaction, the director now directly owns 1,240 shares of the company’s stock, valued at approximately $29,946. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 4.10% of the company’s stock.

Institutional Investors Weigh In On Viking Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the company. Blue Trust Inc. raised its position in shares of Viking Therapeutics by 75.9% during the fourth quarter. Blue Trust Inc. now owns 716 shares of the biotechnology company’s stock worth $29,000 after purchasing an additional 309 shares during the period. YANKCOM Partnership bought a new stake in Viking Therapeutics during the 4th quarter valued at $33,000. Parallel Advisors LLC raised its holdings in Viking Therapeutics by 64.8% during the first quarter. Parallel Advisors LLC now owns 1,363 shares of the biotechnology company’s stock worth $33,000 after buying an additional 536 shares during the last quarter. FIL Ltd lifted its stake in shares of Viking Therapeutics by 116.8% in the fourth quarter. FIL Ltd now owns 1,203 shares of the biotechnology company’s stock valued at $48,000 after buying an additional 648 shares in the last quarter. Finally, NBC Securities Inc. grew its holdings in shares of Viking Therapeutics by 222,100.0% during the first quarter. NBC Securities Inc. now owns 2,222 shares of the biotechnology company’s stock valued at $53,000 after buying an additional 2,221 shares during the last quarter. Institutional investors and hedge funds own 76.03% of the company’s stock.

About Viking Therapeutics

Viking Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on the development of novel therapies for metabolic and endocrine disorders. The company's lead drug candidate is VK2809, an orally available tissue and receptor-subtype selective agonist of the thyroid hormone receptor beta (TRß), which is in Phase IIb clinical trials to treat patients with biopsy-confirmed non-alcoholic steatohepatitis, as well as NAFLD.