Analysts Set Viking Therapeutics, Inc. (NASDAQ:VKTX) PT at $87.14

Viking Therapeutics, Inc. (NASDAQ:VKTX) has been assigned an average rating of “Moderate Buy” from the sixteen brokerages that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, nine have given a buy recommendation and three have issued a strong buy recommendation on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $87.1429.

A number of research analysts recently issued reports on VKTX shares. HC Wainwright reiterated a “buy” rating and set a $102.00 price objective on shares of Viking Therapeutics in a research note on Monday, September 29th. Cantor Fitzgerald set a $105.00 price target on shares of Viking Therapeutics in a research report on Thursday, October 23rd. Canaccord Genuity Group raised their price objective on shares of Viking Therapeutics from $106.00 to $107.00 and gave the company a “buy” rating in a research report on Wednesday, November 12th. Weiss Ratings restated a “sell (d-)” rating on shares of Viking Therapeutics in a research note on Wednesday, October 8th. Finally, JPMorgan Chase & Co. cut their price target on Viking Therapeutics from $80.00 to $75.00 and set an “overweight” rating for the company in a research note on Friday, October 24th.

Viking Therapeutics Stock Performance

Shares of Viking Therapeutics stock opened at $37.18 on Tuesday. Viking Therapeutics has a one year low of $18.92 and a one year high of $43.55. The stock’s fifty day moving average is $36.29 and its 200 day moving average is $31.99. The stock has a market cap of $4.20 billion, a P/E ratio of -17.54 and a beta of 0.65.

Viking Therapeutics (NASDAQ:VKTX) last released its quarterly earnings results on Wednesday, October 22nd. The biotechnology company reported ($0.81) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.67) by ($0.14). The company’s quarterly revenue was up .0% compared to the same quarter last year. During the same quarter last year, the company earned ($0.22) earnings per share. Analysts predict that Viking Therapeutics will post -1.56 EPS for the current year.

Insiders Place Their Bets

In related news, Director Charles A. Rowland, Jr. sold 60,000 shares of the stock in a transaction dated Monday, October 27th. The stock was sold at an average price of $35.57, for a total transaction of $2,134,200.00. Following the completion of the sale, the director owned 30,000 shares in the company, valued at approximately $1,067,100. This trade represents a 66.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Greg Zante sold 6,185 shares of Viking Therapeutics stock in a transaction that occurred on Tuesday, October 28th. The shares were sold at an average price of $35.00, for a total value of $216,475.00. Following the sale, the chief financial officer directly owned 173,592 shares in the company, valued at $6,075,720. This trade represents a 3.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 111,359 shares of company stock worth $3,932,155. Company insiders own 4.10% of the company’s stock.

Hedge Funds Weigh In On Viking Therapeutics

Several hedge funds have recently modified their holdings of the stock. Jump Financial LLC purchased a new position in Viking Therapeutics during the second quarter worth $12,201,000. Norges Bank bought a new stake in shares of Viking Therapeutics in the 2nd quarter worth about $46,846,000. Wealth Management Associates Inc. purchased a new position in shares of Viking Therapeutics during the 1st quarter worth about $241,000. Kingstone Capital Partners Texas LLC purchased a new position in shares of Viking Therapeutics during the 2nd quarter worth about $1,367,000. Finally, Marex Group plc bought a new position in Viking Therapeutics during the 2nd quarter valued at about $983,000. Hedge funds and other 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.