Viking Therapeutics, Inc. (NASDAQ:VKTX) Receives $96.62 Average PT from Brokerages

Viking Therapeutics, Inc. (NASDAQ:VKTX) has been given a consensus recommendation of “Moderate Buy” by the twelve research firms that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, eight have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $96.6250.

Several equities research analysts have issued reports on VKTX shares. JPMorgan Chase & Co. cut their target price on Viking Therapeutics from $75.00 to $65.00 and set an “overweight” rating for the company in a research note on Tuesday, August 11th. Lake Street Capital started coverage on Viking Therapeutics in a report on Thursday, May 28th. They set a “buy” rating and a $89.00 price target for the company. Canaccord Genuity Group increased their price target on Viking Therapeutics from $107.00 to $114.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Weiss Ratings reissued a “sell (d-)” rating on shares of Viking Therapeutics in a research report on Friday, July 17th. Finally, Zacks Research upgraded shares of Viking Therapeutics from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 18th.

Insider Activity

In other Viking Therapeutics news, COO Marianna Mancini sold 18,217 shares of the company’s stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $33.47, for a total transaction of $609,722.99. Following the transaction, the chief operating officer directly owned 422,760 shares in the company, valued at $14,149,777.20. This represents a 4.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Brian Lian sold 148,517 shares of the firm’s stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $33.32, for a total value of $4,948,586.44. Following the transaction, the chief executive officer owned 2,572,441 shares of the company’s stock, valued at approximately $85,713,734.12. This represents a 5.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 187,951 shares of company stock valued at $6,268,442. Company insiders own 5.30% of the company’s stock.

Hedge Funds Weigh In On Viking Therapeutics

Several hedge funds have recently bought and sold shares of the company. Ameritas Advisory Services LLC purchased a new stake in Viking Therapeutics during the second quarter worth about $32,000. Ballast Advisors LLC acquired a new stake in shares of Viking Therapeutics during the first quarter worth about $33,000. Quattro Advisors LLC purchased a new position in shares of Viking Therapeutics in the fourth quarter valued at approximately $37,000. Fifth Third Bancorp boosted its stake in shares of Viking Therapeutics by 169.2% in the fourth quarter. Fifth Third Bancorp now owns 1,077 shares of the biotechnology company’s stock valued at $38,000 after purchasing an additional 677 shares during the period. Finally, Cassaday & Co Wealth Management LLC acquired a new position in shares of Viking Therapeutics in the first quarter valued at approximately $50,000. Institutional investors and hedge funds own 76.03% of the company’s stock.

Viking Therapeutics Price Performance

Viking Therapeutics stock opened at $34.87 on Monday. The firm has a 50 day simple moving average of $35.41 and a 200-day simple moving average of $33.49. The stock has a market cap of $4.07 billion, a price-to-earnings ratio of -7.48 and a beta of 0.69. Viking Therapeutics has a 1-year low of $22.96 and a 1-year high of $43.15.

Viking Therapeutics (NASDAQ:VKTX) last released its quarterly earnings results on Wednesday, July 29th. The biotechnology company reported ($1.10) EPS for the quarter, beating the consensus estimate of ($1.21) by $0.11. During the same quarter in the previous year, the business posted ($0.58) EPS. The business’s revenue was up .0% on a year-over-year basis. Equities analysts expect that Viking Therapeutics will post -4.47 earnings per share for the current fiscal year.

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.