Viking Therapeutics, Inc. (NASDAQ:VKTX) Receives $97.67 Average PT from Brokerages

Viking Therapeutics, Inc. (NASDAQ:VKTX) has earned a consensus rating of “Buy” from the twelve ratings firms that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $95.18.

VKTX has been the subject of several recent analyst reports. B. Riley reaffirmed a “buy” rating and set a $96.00 price objective (down previously from $109.00) on shares of Viking Therapeutics in a research report on Friday, February 7th. Maxim Group cut their price target on shares of Viking Therapeutics from $120.00 to $70.00 and set a “buy” rating for the company in a report on Friday, February 7th. Scotiabank assumed coverage on shares of Viking Therapeutics in a research note on Thursday, February 13th. They issued a “sector outperform” rating and a $102.00 price objective on the stock. Raymond James upped their target price on Viking Therapeutics from $122.00 to $125.00 and gave the stock a “strong-buy” rating in a research note on Thursday, February 6th. Finally, Citigroup started coverage on Viking Therapeutics in a report on Friday, February 7th. They issued a “neutral” rating and a $38.00 target price on the stock.

Viking Therapeutics Trading Down 1.8 %

Shares of VKTX opened at $25.65 on Friday. Viking Therapeutics has a 12 month low of $24.41 and a 12 month high of $82.00. The firm’s 50 day moving average is $30.29 and its 200-day moving average is $46.60. The stock has a market capitalization of $2.88 billion, a PE ratio of -25.65 and a beta of 0.90.

Viking Therapeutics (NASDAQ:VKTX) last posted its quarterly earnings data on Wednesday, February 5th. The biotechnology company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.05). During the same period in the previous year, the company posted ($0.25) earnings per share. Equities research analysts predict that Viking Therapeutics will post -1.56 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, COO Marianna Mancini sold 54,215 shares of Viking Therapeutics stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $42.75, for a total transaction of $2,317,691.25. Following the sale, the chief operating officer now directly owns 374,134 shares in the company, valued at $15,994,228.50. This trade represents a 12.66 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Greg Zante sold 50,309 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $42.75, for a total transaction of $2,150,709.75. Following the sale, the chief financial officer now directly owns 165,259 shares in the company, valued at $7,064,822.25. The trade was a 23.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 299,014 shares of company stock worth $12,782,849 in the last 90 days. Insiders own 4.70% of the company’s stock.

Hedge Funds Weigh In On Viking Therapeutics

Hedge funds have recently modified their holdings of the business. OneDigital Investment Advisors LLC bought a new position in Viking Therapeutics during the 3rd quarter worth $206,000. Thrivent Financial for Lutherans increased its stake in shares of Viking Therapeutics by 2.7% in the third quarter. Thrivent Financial for Lutherans now owns 28,251 shares of the biotechnology company’s stock valued at $1,789,000 after buying an additional 748 shares during the period. Prospera Financial Services Inc bought a new position in shares of Viking Therapeutics during the third quarter worth about $298,000. Avior Wealth Management LLC lifted its stake in shares of Viking Therapeutics by 39.1% in the third quarter. Avior Wealth Management LLC now owns 3,172 shares of the biotechnology company’s stock worth $201,000 after acquiring an additional 892 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its holdings in Viking Therapeutics by 4.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 248,269 shares of the biotechnology company’s stock valued at $15,718,000 after acquiring an additional 11,668 shares during the last quarter. Institutional investors and hedge funds own 76.03% of the company’s stock.

Viking Therapeutics Company 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.