IFP Advisors Inc Has $1.48 Million Stock Holdings in Viking Therapeutics, Inc. $VKTX

IFP Advisors Inc grew its stake in shares of Viking Therapeutics, Inc. (NASDAQ:VKTX) by 24.0% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 51,925 shares of the biotechnology company’s stock after acquiring an additional 10,048 shares during the quarter. IFP Advisors Inc’s holdings in Viking Therapeutics were worth $1,476,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Raymond James Financial Inc. grew its stake in Viking Therapeutics by 4.7% during the first quarter. Raymond James Financial Inc. now owns 647,391 shares of the biotechnology company’s stock worth $15,634,000 after buying an additional 28,922 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Viking Therapeutics by 59.2% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 597,515 shares of the biotechnology company’s stock worth $14,430,000 after acquiring an additional 222,293 shares during the period. Northern Trust Corp lifted its holdings in shares of Viking Therapeutics by 0.5% during the 1st quarter. Northern Trust Corp now owns 538,636 shares of the biotechnology company’s stock worth $13,008,000 after acquiring an additional 2,652 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Viking Therapeutics by 12.0% during the 1st quarter. Bank of New York Mellon Corp now owns 518,298 shares of the biotechnology company’s stock worth $12,517,000 after acquiring an additional 55,334 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Viking Therapeutics by 1.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 470,028 shares of the biotechnology company’s stock valued at $11,351,000 after acquiring an additional 6,696 shares during the last quarter. Institutional investors own 76.03% of the company’s stock.

Wall Street Analysts Forecast Growth

VKTX has been the topic of a number of research analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Viking Therapeutics in a report on Wednesday, October 8th. HC Wainwright restated a “buy” rating and set a $102.00 price objective on shares of Viking Therapeutics in a research report on Monday, September 29th. Raymond James Financial decreased their target price on Viking Therapeutics from $125.00 to $122.00 and set a “strong-buy” rating on the stock in a research report on Thursday, July 24th. BTIG Research reissued a “buy” rating and set a $125.00 target price on shares of Viking Therapeutics in a research note on Monday, September 22nd. Finally, Citigroup raised their price target on shares of Viking Therapeutics from $31.00 to $38.00 and gave the company a “neutral” rating in a research note on Thursday, July 24th. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $86.42.

Viking Therapeutics Price Performance

NASDAQ:VKTX opened at $33.56 on Monday. Viking Therapeutics, Inc. has a one year low of $18.92 and a one year high of $81.73. The company has a market cap of $3.77 billion, a PE ratio of -21.93 and a beta of 0.64. The firm’s 50 day simple moving average is $29.29 and its 200 day simple moving average is $28.09.

Viking Therapeutics (NASDAQ:VKTX) last posted its quarterly earnings data on Wednesday, July 23rd. The biotechnology company reported ($0.58) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.14). Viking Therapeutics’s revenue was up NaN% compared to the same quarter last year. During the same quarter last year, the business posted ($0.20) earnings per share. Equities research analysts expect that Viking Therapeutics, Inc. will post -1.56 EPS for the current year.

Viking Therapeutics Profile

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.