BTIG Research Reiterates Buy Rating for Viking Therapeutics (NASDAQ:VKTX)

Viking Therapeutics (NASDAQ:VKTX)‘s stock had its “buy” rating reissued by analysts at BTIG Research in a research report issued to clients and investors on Friday,Benzinga reports. They presently have a $125.00 price target on the biotechnology company’s stock. BTIG Research’s price objective points to a potential upside of 316.67% from the company’s previous close.

Several other brokerages also recently weighed in on VKTX. Cantor Fitzgerald cut their target price on Viking Therapeutics from $105.00 to $100.00 and set an “overweight” rating on the stock in a research note on Thursday. Zacks Research raised Viking Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Wednesday, February 18th. HC Wainwright reaffirmed a “buy” rating and set a $102.00 target price on shares of Viking Therapeutics in a research note on Monday, March 23rd. Wolfe Research assumed coverage on Viking Therapeutics in a research note on Thursday, March 26th. They set a “peer perform” rating on the stock. Finally, Truist Financial raised Viking Therapeutics to a “strong-buy” rating in a research note on Monday, April 27th. Three equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $95.50.

Viking Therapeutics Stock Performance

Shares of NASDAQ VKTX opened at $30.00 on Friday. The company has a market cap of $3.48 billion, a price-to-earnings ratio of -7.25 and a beta of 0.72. Viking Therapeutics has a 12-month low of $22.96 and a 12-month high of $43.15. The stock’s 50 day simple moving average is $33.63 and its 200 day simple moving average is $34.02.

Viking Therapeutics (NASDAQ:VKTX) last announced its quarterly earnings results on Wednesday, April 29th. The biotechnology company reported ($1.37) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.01) by ($0.36). During the same period last year, the company earned ($0.41) earnings per share. As a group, equities analysts forecast that Viking Therapeutics will post -4.56 earnings per share for the current fiscal year.

Insider Activity at Viking Therapeutics

In other news, insider Neil William Aubuchon acquired 4,475 shares of the company’s stock in a transaction dated Tuesday, March 10th. The shares were bought at an average price of $33.50 per share, with a total value of $149,912.50. Following the purchase, the insider owned 4,475 shares of the company’s stock, valued at approximately $149,912.50. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 5.30% of the company’s stock.

Institutional Trading of Viking Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the company. Raleigh Capital Management Inc. raised its stake in shares of Viking Therapeutics by 58.0% in the 4th quarter. Raleigh Capital Management Inc. now owns 945 shares of the biotechnology company’s stock worth $33,000 after buying an additional 347 shares in the last quarter. Quattro Advisors LLC bought a new stake in shares of Viking Therapeutics in the 4th quarter worth $37,000. Fifth Third Bancorp raised its stake in shares of Viking Therapeutics by 169.3% in the 4th quarter. Fifth Third Bancorp now owns 1,077 shares of the biotechnology company’s stock worth $38,000 after buying an additional 677 shares in the last quarter. Lodestone Wealth Management LLC bought a new stake in shares of Viking Therapeutics in the 4th quarter worth $39,000. Finally, Golden State Wealth Management LLC bought a new stake in shares of Viking Therapeutics in the 3rd quarter worth $30,000. 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.