Viking Therapeutics Inc (NASDAQ:VKTX) traded down 6.4% during trading on Thursday after Raymond James lowered their price target on the stock from $43.00 to $40.00. Raymond James currently has a strong-buy rating on the stock. Viking Therapeutics traded as low as $7.51 and last traded at $7.72. 5,229,504 shares traded hands during trading, an increase of 82% from the average session volume of 2,875,690 shares. The stock had previously closed at $8.25.
Other equities research analysts have also issued reports about the stock. William Blair restated an “outperform” rating on shares of Viking Therapeutics in a research report on Thursday. Maxim Group decreased their target price on shares of Viking Therapeutics from $28.00 to $20.00 and set a “buy” rating on the stock in a research report on Thursday. B. Riley assumed coverage on shares of Viking Therapeutics in a research report on Tuesday, December 11th. They set a “buy” rating and a $16.00 target price on the stock. Svb Leerink assumed coverage on shares of Viking Therapeutics in a research report on Friday, February 22nd. They set a “mkt perform” rating on the stock. Finally, BidaskClub upgraded shares of Viking Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Wednesday, January 2nd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $22.88.
Large investors have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Viking Therapeutics during the 4th quarter worth $30,000. Lindbrook Capital LLC acquired a new position in shares of Viking Therapeutics during the 4th quarter worth $36,000. Great West Life Assurance Co. Can acquired a new position in shares of Viking Therapeutics during the 4th quarter worth $53,000. Meeder Asset Management Inc. raised its stake in shares of Viking Therapeutics by 63.5% during the 4th quarter. Meeder Asset Management Inc. now owns 7,309 shares of the biotechnology company’s stock worth $56,000 after buying an additional 2,839 shares during the last quarter. Finally, Nisa Investment Advisors LLC acquired a new position in shares of Viking Therapeutics during the 4th quarter worth $60,000. 65.69% of the stock is owned by institutional investors and hedge funds.
The company has a market capitalization of $570.25 million, a PE ratio of -9.77 and a beta of 2.73.
Viking Therapeutics (NASDAQ:VKTX) last released its quarterly earnings results on Wednesday, March 13th. The biotechnology company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.03. As a group, analysts anticipate that Viking Therapeutics Inc will post -0.43 EPS for the current year.
COPYRIGHT VIOLATION NOTICE: This story was originally posted by Zolmax and is owned by of Zolmax. If you are accessing this story on another site, it was stolen and republished in violation of U.S. & international copyright legislation. The legal version of this story can be read at https://zolmax.com/investing/viking-therapeutics-vktx-shares-down-6-4-following-analyst-downgrade/2963173.html.
About Viking Therapeutics (NASDAQ:VKTX)
Viking Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on the development of novel therapies for metabolic and endocrine disorders. Its lead clinical program, VK5211, is an orally available, non-steroidal selective androgen receptor modulator in Phase II development for the treatment of patients recovering from non-elective hip fracture surgery; in Phase I clinical trials for improving lean body mass; and in pre-clinical trial for improving bone mineral density, bone mineral content, bone strength, and other measures.
Further Reading: What is the price-to-earnings growth (PEG) ratio?
Receive News & Ratings for Viking Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Viking Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.