BTIG Research Upgrades Viking Therapeutics (NASDAQ:VKTX) to “Strong-Buy”

Viking Therapeutics (NASDAQ:VKTX) was upgraded by BTIG Research to a “strong-buy” rating in a report released on Thursday,Zacks.com reports.

Several other brokerages have also weighed in on VKTX. Morgan Stanley reiterated an “overweight” rating and set a $99.00 target price on shares of Viking Therapeutics in a research report on Thursday, February 12th. Canaccord Genuity Group lifted their price objective on Viking Therapeutics from $106.00 to $107.00 and gave the company a “buy” rating in a report on Wednesday, November 12th. Zacks Research upgraded Viking Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Wednesday, February 18th. Finally, Weiss Ratings reissued 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 assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Viking Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $87.80.

Viking Therapeutics Stock Performance

Shares of NASDAQ:VKTX traded up $0.87 during trading on Thursday, hitting $33.84. 2,033,263 shares of the stock were exchanged, compared to its average volume of 3,134,653. The company has a market capitalization of $3.91 billion, a price-to-earnings ratio of -10.64 and a beta of 0.75. Viking Therapeutics has a 1-year low of $18.92 and a 1-year high of $43.15. The company’s fifty day simple moving average is $32.28 and its 200-day simple moving average is $32.42.

Viking Therapeutics (NASDAQ:VKTX) last issued its earnings results on Wednesday, February 11th. The biotechnology company reported ($1.38) EPS for the quarter, missing the consensus estimate of ($0.89) by ($0.49). During the same period in the previous year, the company earned ($0.32) earnings per share. On average, research analysts forecast that Viking Therapeutics will post -1.56 earnings per share for the current fiscal year.

Insider Buying and Selling at Viking Therapeutics

In other Viking Therapeutics news, Director Matthew W. Foehr sold 16,000 shares of the company’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $35.11, for a total transaction of $561,760.00. Following the completion of the sale, the director owned 132,036 shares in the company, valued at approximately $4,635,783.96. The trade was a 10.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Marianna Mancini sold 57,661 shares of the firm’s stock in a transaction on Monday, January 5th. The stock was sold at an average price of $32.98, for a total value of $1,901,659.78. Following the completion of the transaction, the chief operating officer 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. Additional details regarding this sale are available in the official SEC disclosure. 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 corporate insiders.

Institutional Investors Weigh In On Viking Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Raleigh Capital Management Inc. lifted its holdings in shares of Viking Therapeutics by 58.0% in the fourth quarter. Raleigh Capital Management Inc. now owns 945 shares of the biotechnology company’s stock valued at $33,000 after purchasing an additional 347 shares in the last quarter. Allworth Financial LP lifted its stake in Viking Therapeutics by 58.4% in the 2nd quarter. Allworth Financial LP now owns 955 shares of the biotechnology company’s stock valued at $25,000 after acquiring an additional 352 shares in the last quarter. Quattro Advisors LLC bought a new stake in Viking Therapeutics in the 4th quarter valued at approximately $37,000. Fifth Third Bancorp boosted its position in Viking Therapeutics by 169.3% during the 4th quarter. Fifth Third Bancorp now owns 1,077 shares of the biotechnology company’s stock worth $38,000 after acquiring an additional 677 shares during the last quarter. Finally, Lodestone Wealth Management LLC bought a new position in shares of Viking Therapeutics during the 4th quarter worth approximately $39,000. Institutional investors own 76.03% of the company’s stock.

About Viking Therapeutics

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.