Viking Therapeutics (NASDAQ:VKTX) Price Target Cut to $65.00 by Analysts at JPMorgan Chase & Co.

Viking Therapeutics (NASDAQ:VKTX) had its price target cut by analysts at JPMorgan Chase & Co. from $75.00 to $65.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the biotechnology company’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 88.38% from the company’s current price.

VKTX has been the topic of a number of other research reports. BTIG Research reaffirmed a “buy” rating and issued a $125.00 target price on shares of Viking Therapeutics in a report on Friday, May 1st. Lake Street Capital initiated coverage on Viking Therapeutics in a report on Thursday, May 28th. They set a “buy” rating and a $89.00 price target for the company. Morgan Stanley set a $95.00 price objective on Viking Therapeutics in a research report on Thursday, April 30th. Canaccord Genuity Group raised their price objective on shares of Viking Therapeutics from $107.00 to $114.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Finally, Cantor Fitzgerald dropped their target price on shares of Viking Therapeutics from $105.00 to $100.00 and set an “overweight” rating on the stock in a research report on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Viking Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $96.62.

Viking Therapeutics Stock Up 0.2%

VKTX stock traded up $0.07 during mid-day trading on Tuesday, reaching $34.51. 167,461 shares of the stock traded hands, compared to its average volume of 2,576,041. The firm has a market capitalization of $4.03 billion, a PE ratio of -7.37 and a beta of 0.69. The business has a 50-day moving average of $34.40 and a two-hundred day moving average of $32.99. Viking Therapeutics has a 52 week low of $22.96 and a 52 week high of $43.15.

Viking Therapeutics (NASDAQ:VKTX) last posted its quarterly earnings data on Wednesday, July 29th. The biotechnology company reported ($1.10) EPS for the quarter, topping analysts’ consensus estimates of ($1.21) by $0.11. During the same period in the prior year, the business earned ($0.58) earnings per share. Viking Therapeutics’s revenue was up .0% on a year-over-year basis. On average, equities research analysts anticipate that Viking Therapeutics will post -4.5 EPS for the current fiscal year.

Insider Transactions at Viking Therapeutics

In related news, CEO Brian Lian sold 148,517 shares of the company’s stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $33.32, for a total value of $4,948,586.44. Following the completion of the transaction, the chief executive officer directly owned 2,572,441 shares in the company, valued at approximately $85,713,734.12. This represents a 5.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Marianna Mancini sold 18,217 shares of Viking Therapeutics stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $33.47, for a total transaction of $609,722.99. Following the sale, the chief operating officer owned 422,760 shares in the company, valued at $14,149,777.20. This represents a 4.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 187,951 shares of company stock valued at $6,268,442. 5.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Viking Therapeutics

A number of hedge funds have recently made changes to their positions in VKTX. BlackRock Inc. bought a new position in shares of Viking Therapeutics during the 2nd quarter worth about $241,458,000. BNP Paribas Financial Markets raised its position in Viking Therapeutics by 536.3% in the fourth quarter. BNP Paribas Financial Markets now owns 992,695 shares of the biotechnology company’s stock worth $34,923,000 after purchasing an additional 836,686 shares in the last quarter. Two Sigma Investments LP raised its position in Viking Therapeutics by 58.7% in the third quarter. Two Sigma Investments LP now owns 2,085,487 shares of the biotechnology company’s stock worth $54,807,000 after purchasing an additional 771,704 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in Viking Therapeutics by 41.8% during the third quarter. Ameriprise Financial Inc. now owns 2,092,840 shares of the biotechnology company’s stock worth $55,000,000 after purchasing an additional 616,526 shares during the period. Finally, Cubist Systematic Strategies LLC lifted its stake in Viking Therapeutics by 6,315.6% during the second quarter. Cubist Systematic Strategies LLC now owns 596,650 shares of the biotechnology company’s stock worth $15,811,000 after purchasing an additional 587,350 shares during the period. Institutional investors and hedge funds own 76.03% of the company’s stock.

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.