Viking Therapeutics, Inc. (NASDAQ:VKTX) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Viking Therapeutics, Inc. (NASDAQ:VKTX) have received a consensus recommendation of “Moderate Buy” from the fourteen research firms that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, three have given a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $93.60.

Several analysts have recently issued reports on the stock. BTIG Research reiterated a “buy” rating and issued a $125.00 target price on shares of Viking Therapeutics in a research note on Friday, May 1st. Truist Financial assumed coverage on shares of Viking Therapeutics in a research note on Wednesday, May 27th. They issued a “buy” rating and a $83.00 target price for the company. Morgan Stanley set a $95.00 target price on shares of Viking Therapeutics in a research note on Thursday, April 30th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Viking Therapeutics in a research note on Monday, April 20th. Finally, HC Wainwright reissued a “buy” rating and issued a $102.00 price target on shares of Viking Therapeutics in a report on Monday, March 23rd.

Viking Therapeutics Price Performance

NASDAQ VKTX opened at $32.37 on Tuesday. Viking Therapeutics has a 1 year low of $22.96 and a 1 year high of $43.15. The firm has a market cap of $3.76 billion, a price-to-earnings ratio of -7.82 and a beta of 0.69. The company has a fifty day moving average price of $31.44 and a 200-day moving average price of $32.64.

Viking Therapeutics (NASDAQ:VKTX) last posted its earnings results on Thursday, April 30th. The biotechnology company reported ($1.37) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.01) by ($0.36). During the same period in the previous year, the company posted ($0.41) EPS. On average, research analysts anticipate that Viking Therapeutics will post -4.7 EPS for the current fiscal year.

Hedge Funds Weigh In On Viking Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in VKTX. Royal Bank of Canada boosted its holdings in shares of Viking Therapeutics by 13.0% in the 1st quarter. Royal Bank of Canada now owns 347,716 shares of the biotechnology company’s stock worth $8,396,000 after buying an additional 39,886 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new position in shares of Viking Therapeutics in the 1st quarter worth about $230,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings 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 worth $11,351,000 after buying an additional 6,696 shares during the last quarter. Prudential Financial Inc. purchased a new position in shares of Viking Therapeutics in the 2nd quarter worth about $196,000. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Viking Therapeutics by 29.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,109 shares of the biotechnology company’s stock worth $56,000 after buying an additional 481 shares during the last quarter. 76.03% of the stock is owned by hedge funds and other institutional investors.

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.