Viking Therapeutics (NASDAQ:VKTX) Downgraded by Zacks Research to Strong Sell

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

A number of other research analysts have also recently commented on VKTX. Weiss Ratings restated a “sell (d-)” rating on shares of Viking Therapeutics in a research note on Friday. Lake Street Capital started coverage on Viking Therapeutics in a research note on Thursday, May 28th. They issued a “buy” rating and a $89.00 price target on the stock. Cantor Fitzgerald decreased their price objective on Viking Therapeutics from $105.00 to $100.00 and set an “overweight” rating for the company in a report on Thursday, April 30th. BTIG Research reissued a “buy” rating and set a $125.00 price objective on shares of Viking Therapeutics in a research report on Friday, May 1st. Finally, Morgan Stanley set a $95.00 target price on shares of Viking Therapeutics in a report on Thursday, April 30th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $93.60.

Viking Therapeutics Price Performance

Shares of NASDAQ VKTX opened at $37.95 on Monday. Viking Therapeutics has a 1 year low of $22.96 and a 1 year high of $43.15. The company’s 50-day moving average is $33.51 and its 200 day moving average is $32.89. The stock has a market capitalization of $4.41 billion, a P/E ratio of -9.17 and a beta of 0.66.

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

Institutional Trading of Viking Therapeutics

A number of hedge funds have recently made changes to their positions in VKTX. Raleigh Capital Management Inc. grew its stake in shares of Viking Therapeutics by 58.0% in the 4th quarter. Raleigh Capital Management Inc. now owns 945 shares of the biotechnology company’s stock worth $33,000 after buying an additional 347 shares during the last quarter. Ballast Advisors LLC purchased a new position in Viking Therapeutics during the first quarter valued at $33,000. Quattro Advisors LLC bought a new stake in Viking Therapeutics in the fourth quarter worth $37,000. Fifth Third Bancorp boosted its holdings in Viking Therapeutics by 169.2% in the fourth quarter. Fifth Third Bancorp now owns 1,077 shares of the biotechnology company’s stock worth $38,000 after acquiring an additional 677 shares in the last quarter. Finally, Lodestone Wealth Management LLC purchased a new stake in shares of Viking Therapeutics in the fourth quarter worth $39,000. 76.03% of the stock is owned by 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.