Viking Therapeutics’ (VKTX) “Buy” Rating Reaffirmed at Maxim Group
Viking Therapeutics (NASDAQ:VKTX)‘s stock had its “buy” rating reissued by equities research analysts at Maxim Group in a report issued on Thursday. They currently have a $28.00 price target on the biotechnology company’s stock. Maxim Group’s price target indicates a potential upside of 127.09% from the stock’s current price.
The analysts wrote, “Viking reported 3Q18 with a net loss of ($6.6M) and ended the period with $304M in cash. We have increased expenses going forward as the NASH program moves into later-stage development and additional programs like 0214 move into the clinic.””
Several other equities analysts have also recently weighed in on VKTX. HC Wainwright reiterated a “buy” rating and issued a $31.00 price target on shares of Viking Therapeutics in a research report on Thursday. SunTrust Banks began coverage on Viking Therapeutics in a research report on Friday, July 20th. They issued a “buy” rating and a $14.00 price target for the company. William Blair reiterated an “outperform” rating on shares of Viking Therapeutics in a research report on Friday, August 10th. BidaskClub upgraded Viking Therapeutics from a “hold” rating to a “buy” rating in a research report on Saturday, July 21st. Finally, Raymond James reiterated an “outperform” rating and issued a $43.00 price target (up from $15.00) on shares of Viking Therapeutics in a research report on Tuesday, September 18th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $28.00.
Viking Therapeutics (NASDAQ:VKTX) last announced its quarterly earnings results on Friday, November 9th. The biotechnology company reported ($0.11) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.12) by $0.01. Analysts predict that Viking Therapeutics will post -0.44 EPS for the current fiscal year.
In related news, major shareholder Ligand Pharmaceuticals Inc sold 262,881 shares of the business’s stock in a transaction dated Tuesday, September 25th. The stock was sold at an average price of $19.15, for a total transaction of $5,034,171.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.90% of the stock is owned by insiders.
A number of institutional investors have recently bought and sold shares of the stock. FMR LLC purchased a new position in Viking Therapeutics during the third quarter worth about $125,858,000. American International Group Inc. grew its position in Viking Therapeutics by 21.3% during the third quarter. American International Group Inc. now owns 34,403 shares of the biotechnology company’s stock worth $599,000 after buying an additional 6,036 shares in the last quarter. BlackRock Inc. grew its position in Viking Therapeutics by 14.0% during the third quarter. BlackRock Inc. now owns 3,349,901 shares of the biotechnology company’s stock worth $58,355,000 after buying an additional 411,256 shares in the last quarter. Bank of New York Mellon Corp grew its position in Viking Therapeutics by 11.4% during the third quarter. Bank of New York Mellon Corp now owns 385,484 shares of the biotechnology company’s stock worth $6,714,000 after buying an additional 39,455 shares in the last quarter. Finally, Eagle Asset Management Inc. boosted its holdings in shares of Viking Therapeutics by 68.1% in the 3rd quarter. Eagle Asset Management Inc. now owns 130,987 shares of the biotechnology company’s stock worth $2,281,000 after purchasing an additional 53,076 shares in the last quarter. Institutional investors and hedge funds own 53.56% of the company’s stock.
About Viking Therapeutics
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.
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