Analysts Set Viking Therapeutics, Inc. (NASDAQ:VKTX) Price Target at $89.36

Viking Therapeutics, Inc. (NASDAQ:VKTXGet Free Report) has earned a consensus recommendation of “Moderate Buy” from the thirteen research firms that are covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation, six have given a buy recommendation and three have issued a strong buy recommendation on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $87.80.

VKTX has been the topic of several recent analyst reports. Canaccord Genuity Group increased their target price on shares of Viking Therapeutics from $106.00 to $107.00 and gave the stock a “buy” rating in a research note on Wednesday, November 12th. JPMorgan Chase & Co. lowered their price target on Viking Therapeutics from $80.00 to $75.00 and set an “overweight” rating on the stock in a research report on Friday, October 24th. Weiss Ratings reissued a “sell (d-)” rating on shares of Viking Therapeutics in a report on Wednesday, January 21st. Cantor Fitzgerald set a $105.00 target price on Viking Therapeutics in a research note on Thursday, October 23rd. Finally, Morgan Stanley reiterated an “overweight” rating and set a $99.00 target price on shares of Viking Therapeutics in a research report on Thursday.

View Our Latest Report on Viking Therapeutics

Key Headlines Impacting Viking Therapeutics

Here are the key news stories impacting Viking Therapeutics this week:

Viking Therapeutics Price Performance

Shares of NASDAQ VKTX opened at $29.00 on Wednesday. The stock has a market capitalization of $3.35 billion, a price-to-earnings ratio of -9.12 and a beta of 0.75. The firm’s 50 day simple moving average is $33.13 and its 200-day simple moving average is $32.58. Viking Therapeutics has a 12 month low of $18.92 and a 12 month high of $43.15.

Viking Therapeutics (NASDAQ:VKTXGet Free Report) last posted its 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 previous year, the business posted ($0.32) EPS. Analysts anticipate that Viking Therapeutics will post -1.56 earnings per share for the current fiscal year.

Insider Activity at Viking Therapeutics

In related news, CEO Brian Lian sold 233,409 shares of the company’s stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $32.96, for a total transaction of $7,693,160.64. Following the completion of the transaction, the chief executive officer owned 2,499,291 shares in the company, valued at $82,376,631.36. This represents a 8.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Marianna Mancini sold 57,661 shares of the firm’s stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $32.98, for a total transaction of $1,901,659.78. Following the completion of the transaction, the chief operating officer directly owned 409,190 shares in the company, valued at $13,495,086.20. This represents a 12.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 364,731 shares of company stock valued at $12,053,627. 4.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Viking Therapeutics

A number of hedge funds have recently made changes to their positions in VKTX. Jump Financial LLC purchased a new stake in Viking Therapeutics in the second quarter valued at $12,201,000. Norges Bank purchased a new position in shares of Viking Therapeutics during the 2nd quarter worth $46,846,000. RFG Advisory LLC increased its position in shares of Viking Therapeutics by 84.8% during the 3rd quarter. RFG Advisory LLC now owns 120,214 shares of the biotechnology company’s stock worth $3,159,000 after purchasing an additional 55,175 shares during the last quarter. Marex Group plc acquired a new stake in shares of Viking Therapeutics during the 2nd quarter worth about $983,000. Finally, Bryce Point Capital LLC purchased a new stake in Viking Therapeutics in the 2nd quarter valued at about $499,000. Institutional investors and hedge funds own 76.03% of the company’s stock.

Viking Therapeutics Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Viking Therapeutics (NASDAQ:VKTX)

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