Viking Therapeutics (NASDAQ:VKTX) Rating Lowered to “Strong Sell” at Zacks Research

Viking Therapeutics (NASDAQ:VKTX) was downgraded by equities researchers at Zacks Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Tuesday,Zacks.com reports.

Other research analysts have also issued research reports about the stock. HC Wainwright restated a “buy” rating and set a $102.00 price target on shares of Viking Therapeutics in a research note on Monday, September 29th. JPMorgan Chase & Co. lowered their target price on shares of Viking Therapeutics from $80.00 to $75.00 and set an “overweight” rating on the stock in a research report on Friday, October 24th. Cantor Fitzgerald set a $105.00 target price on Viking Therapeutics in a report on Thursday, October 23rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Viking Therapeutics in a research report on Wednesday, October 8th. Finally, Canaccord Genuity Group upped their price target on Viking Therapeutics from $106.00 to $107.00 and gave the stock a “buy” rating in a research note on Wednesday, November 12th. Three analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Viking Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $87.14.

Viking Therapeutics Stock Performance

Shares of NASDAQ VKTX traded up $0.94 during trading hours on Tuesday, hitting $34.32. The stock had a trading volume of 731,984 shares, compared to its average volume of 3,674,509. The firm’s 50-day moving average price is $35.34 and its two-hundred day moving average price is $32.80. Viking Therapeutics has a 52 week low of $18.92 and a 52 week high of $43.15. The company has a market capitalization of $3.88 billion, a P/E ratio of -16.17 and a beta of 0.71.

Viking Therapeutics (NASDAQ:VKTX) last issued its quarterly earnings data on Wednesday, October 22nd. The biotechnology company reported ($0.81) earnings per share for the quarter, missing the consensus estimate of ($0.67) by ($0.14). The company’s revenue was up .0% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.22) EPS. As a group, analysts expect that Viking Therapeutics will post -1.56 EPS for the current fiscal year.

Insider Activity at Viking Therapeutics

In other news, COO Marianna Mancini sold 57,661 shares of the firm’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $32.98, for a total value of $1,901,659.78. Following the sale, the chief operating officer directly owned 409,190 shares of the company’s stock, valued at approximately $13,495,086.20. This trade represents a 12.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Charles A. Rowland, Jr. sold 60,000 shares of Viking Therapeutics stock in a transaction dated Monday, October 27th. The stock was sold at an average price of $35.57, for a total value of $2,134,200.00. Following the completion of the transaction, the director owned 30,000 shares in the company, valued at $1,067,100. The trade was a 66.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 476,090 shares of company stock valued at $15,985,782. 4.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Viking Therapeutics

Institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada boosted its stake in Viking Therapeutics by 13.0% in the 1st quarter. Royal Bank of Canada now owns 347,716 shares of the biotechnology company’s stock valued at $8,396,000 after buying an additional 39,886 shares in the last quarter. Integrated Wealth Concepts LLC bought a new position in shares of Viking Therapeutics during the first quarter valued at $230,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Viking Therapeutics by 1.4% in 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 valued at $11,351,000 after purchasing an additional 6,696 shares in the last quarter. Parallel Advisors LLC boosted its stake in shares of Viking Therapeutics by 33.4% in the 2nd quarter. Parallel Advisors LLC now owns 1,818 shares of the biotechnology company’s stock valued at $48,000 after purchasing an additional 455 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC bought a new stake in shares of Viking Therapeutics in the 2nd quarter worth about $254,000. 76.03% of the stock is owned by institutional investors and hedge funds.

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.