Viking Therapeutics (NASDAQ:VKTX) Rating Increased to Hold at Zacks Research

Zacks Research upgraded shares of Viking Therapeutics (NASDAQ:VKTX) from a strong sell rating to a hold rating in a report released on Tuesday,Zacks.com reports.

A number of other research analysts also recently issued reports on the stock. Truist Financial initiated coverage on shares of Viking Therapeutics in a research report on Wednesday, May 27th. They issued a “buy” rating and a $83.00 price target on the stock. Morgan Stanley set a $95.00 price objective on shares of Viking Therapeutics in a research note on Thursday, April 30th. Cantor Fitzgerald cut their target price on shares of Viking Therapeutics from $105.00 to $100.00 and set an “overweight” rating on the stock in a report on Thursday, April 30th. BTIG Research restated a “buy” rating and issued a $125.00 target price on shares of Viking Therapeutics in a research note on Friday, May 1st. Finally, Canaccord Genuity Group upped their target price on Viking Therapeutics from $107.00 to $114.00 and gave the company a “buy” rating in a report on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $96.62.

Viking Therapeutics Trading Up 7.8%

Shares of VKTX opened at $35.98 on Tuesday. Viking Therapeutics has a 52 week low of $22.96 and a 52 week high of $43.15. The firm has a market cap of $4.20 billion, a price-to-earnings ratio of -7.72 and a beta of 0.69. The stock has a 50 day moving average of $35.07 and a 200-day moving average of $33.09.

Viking Therapeutics (NASDAQ:VKTX) last posted its quarterly earnings results on Wednesday, July 29th. The biotechnology company reported ($1.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.21) by $0.11. During the same period last year, the business earned ($0.58) EPS. The company’s quarterly revenue was up .0% on a year-over-year basis. On average, sell-side analysts predict that Viking Therapeutics will post -4.47 earnings per share for the current fiscal year.

Insider Transactions at Viking Therapeutics

In related news, CFO Greg Zante sold 21,217 shares of Viking Therapeutics stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $33.47, for a total value of $710,132.99. Following the sale, the chief financial officer directly owned 212,204 shares in the company, valued at $7,102,467.88. This trade represents a 9.09% decrease in their position. 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 the business’s stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $33.47, for a total transaction of $609,722.99. Following the transaction, the chief operating officer directly owned 422,760 shares of the company’s stock, valued at $14,149,777.20. The trade was a 4.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 187,951 shares of company stock worth $6,268,442. Insiders own 5.30% of the company’s stock.

Institutional Investors Weigh In On Viking Therapeutics

Hedge funds have recently made changes to their positions in the business. E Fund Management Co. Ltd. boosted its position in shares of Viking Therapeutics by 2.4% during the second quarter. E Fund Management Co. Ltd. now owns 17,580 shares of the biotechnology company’s stock worth $466,000 after buying an additional 406 shares during the period. Prospera Financial Services Inc raised its stake in Viking Therapeutics by 5.1% during the 4th quarter. Prospera Financial Services Inc now owns 9,365 shares of the biotechnology company’s stock valued at $329,000 after acquiring an additional 455 shares in the last quarter. Assetmark Inc. raised its stake in Viking Therapeutics by 13.6% during the 1st quarter. Assetmark Inc. now owns 3,870 shares of the biotechnology company’s stock valued at $126,000 after acquiring an additional 462 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its position 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 acquiring an additional 481 shares during the period. Finally, Banque Cantonale Vaudoise boosted its position in Viking Therapeutics by 16.7% during the 3rd quarter. Banque Cantonale Vaudoise now owns 3,752 shares of the biotechnology company’s stock worth $98,000 after acquiring an additional 536 shares during the period. Institutional investors 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.