Viking Therapeutics’ (VKTX) “Buy” Rating Reaffirmed at HC Wainwright

Viking Therapeutics (NASDAQ:VKTX)‘s stock had its “buy” rating reaffirmed by investment analysts at HC Wainwright in a research report issued to clients and investors on Monday,Benzinga reports. They presently have a $102.00 price objective on the biotechnology company’s stock. HC Wainwright’s price objective points to a potential upside of 215.50% from the stock’s previous close.

Other research analysts also recently issued research reports about the company. Morgan Stanley reissued an “overweight” rating and set a $99.00 target price on shares of Viking Therapeutics in a research note on Thursday, February 12th. Zacks Research upgraded shares of Viking Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Wednesday, February 18th. BTIG Research upgraded shares of Viking Therapeutics to a “strong-buy” rating in a research report on Thursday, February 26th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Viking Therapeutics in a report on Wednesday, January 21st. Four investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Viking Therapeutics has an average rating of “Moderate Buy” and an average price target of $87.80.

Viking Therapeutics Price Performance

NASDAQ VKTX opened at $32.33 on Monday. The business has a fifty day moving average price of $32.01 and a two-hundred day moving average price of $32.79. Viking Therapeutics has a fifty-two week low of $18.92 and a fifty-two week high of $43.15. The stock has a market capitalization of $3.74 billion, a PE ratio of -10.17 and a beta of 0.75.

Viking Therapeutics (NASDAQ:VKTX) last issued its quarterly earnings results on Wednesday, February 11th. The biotechnology company reported ($1.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.89) by ($0.49). During the same quarter in the prior year, the company posted ($0.32) earnings per share. As a group, sell-side analysts expect that Viking Therapeutics will post -1.56 earnings per share for the current year.

Insider Buying and Selling

In other Viking Therapeutics news, CFO Greg Zante sold 57,661 shares of the business’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $32.90, for a total transaction of $1,897,046.90. Following the sale, the chief financial officer directly owned 189,891 shares of the company’s stock, valued at $6,247,413.90. The trade was a 23.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Neil William Aubuchon purchased 4,475 shares of the firm’s stock in a transaction on Tuesday, March 10th. The stock was acquired at an average price of $33.50 per share, with a total value of $149,912.50. Following the completion of the transaction, the insider owned 4,475 shares in the company, valued at approximately $149,912.50. This trade represents a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold a total of 364,731 shares of company stock valued at $12,053,627 over the last three months. Insiders own 4.10% of the company’s stock.

Institutional Trading of Viking Therapeutics

Several institutional investors have recently modified their holdings of the business. Jump Financial LLC bought a new stake in shares of Viking Therapeutics in the 2nd quarter valued at about $12,201,000. Norges Bank bought a new stake in Viking Therapeutics in the second quarter valued at approximately $46,846,000. RFG Advisory LLC increased its position in Viking Therapeutics by 84.8% during the 3rd quarter. RFG Advisory LLC now owns 120,214 shares of the biotechnology company’s stock valued at $3,159,000 after purchasing an additional 55,175 shares during the period. Marex Group plc bought a new position in Viking Therapeutics during the 2nd quarter worth approximately $983,000. Finally, Rafferty Asset Management LLC raised its holdings in Viking Therapeutics by 26.6% during the 3rd quarter. Rafferty Asset Management LLC now owns 199,387 shares of the biotechnology company’s stock worth $5,240,000 after purchasing an additional 41,888 shares during the last quarter. Institutional investors own 76.03% of the company’s stock.

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.