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

Viking Therapeutics, Inc. (NASDAQ:VKTX) has been given a consensus recommendation of “Buy” by the fourteen brokerages that are presently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation, ten have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $87.15.

A number of research firms have recently weighed in on VKTX. Scotiabank started coverage on Viking Therapeutics in a research report on Thursday, February 13th. They set a “sector outperform” rating and a $102.00 price objective on the stock. Raymond James upped their price target on Viking Therapeutics from $122.00 to $125.00 and gave the stock a “strong-buy” rating in a report on Thursday, February 6th. B. Riley reiterated a “buy” rating and issued a $96.00 price objective (down previously from $109.00) on shares of Viking Therapeutics in a research note on Friday, February 7th. HC Wainwright reissued a “buy” rating and set a $102.00 price objective on shares of Viking Therapeutics in a research report on Thursday, April 24th. Finally, Morgan Stanley reduced their target price on shares of Viking Therapeutics from $105.00 to $102.00 and set an “overweight” rating on the stock in a report on Thursday, April 24th.

Insider Activity

In other news, Director Sarah Kathryn Rouan acquired 1,240 shares of the firm’s stock in a transaction dated Monday, March 31st. The stock was acquired at an average cost of $24.15 per share, with a total value of $29,946.00. Following the completion of the acquisition, the director now owns 1,240 shares of the company’s stock, valued at $29,946. The trade was a ? increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 4.10% of the company’s stock.

Hedge Funds Weigh In On Viking Therapeutics

A number of institutional investors have recently modified their holdings of VKTX. Virtu Financial LLC acquired a new position in Viking Therapeutics in the fourth quarter valued at $1,715,000. Institute for Wealth Management LLC. grew its holdings in shares of Viking Therapeutics by 122.4% during the fourth quarter. Institute for Wealth Management LLC. now owns 80,602 shares of the biotechnology company’s stock worth $3,243,000 after buying an additional 44,365 shares during the last quarter. Janney Montgomery Scott LLC increased its position in Viking Therapeutics by 103.1% in the 4th quarter. Janney Montgomery Scott LLC now owns 42,612 shares of the biotechnology company’s stock valued at $1,715,000 after acquiring an additional 21,627 shares during the period. Wesbanco Bank Inc. purchased a new stake in Viking Therapeutics during the 4th quarter valued at approximately $475,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in Viking Therapeutics during the 4th quarter valued at approximately $528,000. 76.03% of the stock is owned by institutional investors and hedge funds.

Viking Therapeutics Stock Performance

Shares of VKTX opened at $28.43 on Monday. The stock has a market capitalization of $3.19 billion, a PE ratio of -28.43 and a beta of 0.75. Viking Therapeutics has a 1 year low of $18.92 and a 1 year high of $81.73. The company’s 50-day simple moving average is $26.15 and its 200-day simple moving average is $36.11.

Viking Therapeutics (NASDAQ:VKTX) last announced its quarterly earnings data on Wednesday, April 23rd. The biotechnology company reported ($0.41) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.10). The company’s revenue for the quarter was up .0% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.26) EPS. On average, sell-side analysts predict that Viking Therapeutics will post -1.56 earnings per share for the current year.

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.