BidaskClub Downgrades Viking Therapeutics (VKTX) to Strong Sell
Viking Therapeutics (NASDAQ:VKTX) was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a report released on Tuesday.
Other analysts have also issued research reports about the company. Maxim Group reaffirmed a “buy” rating and issued a $28.00 price target on shares of Viking Therapeutics in a research note on Thursday, November 8th. Roth Capital raised their price target on Viking Therapeutics from $13.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, September 19th. Raymond James reaffirmed an “outperform” rating and issued a $43.00 price target (up previously from $15.00) on shares of Viking Therapeutics in a research note on Tuesday, September 18th. William Blair reaffirmed a “market perform” rating on shares of Viking Therapeutics in a research note on Monday, October 1st. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $15.00 price target on shares of Viking Therapeutics in a research note on Friday, August 10th. One equities research analyst has rated the stock with a sell rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $28.00.
Shares of Viking Therapeutics stock opened at $10.97 on Tuesday. Viking Therapeutics has a 52-week low of $2.40 and a 52-week high of $24.00. The company has a market capitalization of $838.22 million, a PE ratio of -13.89 and a beta of 2.92.
In related news, major shareholder Ligand Pharmaceuticals Inc sold 262,881 shares of the firm’s stock in a transaction on Tuesday, September 25th. The stock was sold at an average price of $19.15, for a total value of $5,034,171.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 3.90% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the business. American International Group Inc. lifted 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 valued at $599,000 after buying an additional 6,036 shares during the period. Quantbot Technologies LP purchased a new position in Viking Therapeutics during the third quarter valued at $109,000. Wells Fargo & Company MN lifted its position in Viking Therapeutics by 12.0% during the third quarter. Wells Fargo & Company MN now owns 65,810 shares of the biotechnology company’s stock valued at $1,146,000 after buying an additional 7,037 shares during the period. First Mercantile Trust Co. purchased a new position in Viking Therapeutics during the third quarter valued at $131,000. Finally, MetLife Investment Advisors LLC lifted its position in Viking Therapeutics by 55.2% during the third quarter. MetLife Investment Advisors LLC now owns 33,664 shares of the biotechnology company’s stock valued at $586,000 after buying an additional 11,967 shares during the period. 54.13% of the stock is owned by institutional investors and hedge funds.
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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