Viking Therapeutics’ (VKTX) Buy Rating Reiterated at BTIG Research

BTIG Research reiterated their buy rating on shares of Viking Therapeutics (NASDAQ:VKTX) in a research note published on Friday,Benzinga reports. They currently have a $125.00 price objective on the biotechnology company’s stock.

Several other analysts also recently commented on VKTX. Wolfe Research began coverage on shares of Viking Therapeutics in a report on Thursday, March 26th. They set a “peer perform” rating for the company. Morgan Stanley set a $95.00 target price on shares of Viking Therapeutics in a report on Thursday. Cantor Fitzgerald reduced their target price on shares of Viking Therapeutics from $105.00 to $100.00 and set an “overweight” rating for the company in a report on Thursday. HC Wainwright reaffirmed a “buy” rating and set a $102.00 target price on shares of Viking Therapeutics in a report on Monday, March 23rd. Finally, Truist Financial raised shares of Viking Therapeutics to a “strong-buy” rating in a report on Monday, April 27th. Three research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $95.50.

Viking Therapeutics Stock Performance

Shares of VKTX stock opened at $30.00 on Friday. Viking Therapeutics has a 1 year low of $22.96 and a 1 year high of $43.15. The firm’s fifty day moving average price is $33.63 and its two-hundred day moving average price is $34.02. The firm has a market capitalization of $3.48 billion, a P/E ratio of -7.25 and a beta of 0.72.

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

Insider Transactions at Viking Therapeutics

In related news, insider Neil William Aubuchon acquired 4,475 shares of the stock in a transaction that occurred on Tuesday, March 10th. The stock was acquired at an average cost of $33.50 per share, for a total transaction of $149,912.50. Following the transaction, the insider directly owned 4,475 shares in the company, valued at $149,912.50. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Viking Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the stock. CNB Bank increased its position in Viking Therapeutics by 5.1% in the 3rd quarter. CNB Bank now owns 5,756 shares of the biotechnology company’s stock valued at $151,000 after acquiring an additional 279 shares during the period. Raleigh Capital Management Inc. increased its position in Viking Therapeutics by 58.0% in the 4th quarter. Raleigh Capital Management Inc. now owns 945 shares of the biotechnology company’s stock valued at $33,000 after acquiring an additional 347 shares during the period. Montag A & Associates Inc. increased its position in Viking Therapeutics by 6.4% in the 3rd quarter. Montag A & Associates Inc. now owns 6,620 shares of the biotechnology company’s stock valued at $174,000 after acquiring an additional 400 shares during the period. E Fund Management Co. Ltd. increased its position in Viking Therapeutics by 2.4% in the 2nd quarter. E Fund Management Co. Ltd. now owns 17,580 shares of the biotechnology company’s stock valued at $466,000 after acquiring an additional 406 shares during the period. Finally, Arizona State Retirement System increased its position in Viking Therapeutics by 1.3% in the 3rd quarter. Arizona State Retirement System now owns 31,547 shares of the biotechnology company’s stock valued at $829,000 after acquiring an additional 416 shares during the period. 76.03% of the stock is currently owned by institutional investors and hedge funds.

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.