Viking Therapeutics (NASDAQ:VKTX) Upgraded at BTIG Research

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

Other equities analysts also recently issued reports about the stock. Canaccord Genuity Group increased their price target 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. Zacks Research raised Viking Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Wednesday, February 18th. Weiss Ratings restated a “sell (d-)” rating on shares of Viking Therapeutics in a research report on Wednesday, January 21st. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $99.00 price objective on shares of Viking Therapeutics in a report on Thursday, February 12th. Four research 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Viking Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $87.80.

Viking Therapeutics Stock Up 2.6%

Shares of VKTX stock opened at $33.84 on Thursday. The firm has a market capitalization of $3.91 billion, a price-to-earnings ratio of -10.64 and a beta of 0.75. The stock has a fifty day moving average of $32.28 and a 200 day moving average of $32.42. Viking Therapeutics has a 52 week low of $18.92 and a 52 week high of $43.15.

Viking Therapeutics (NASDAQ:VKTX) last issued its quarterly earnings data on Wednesday, February 11th. The biotechnology company reported ($1.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.49). During the same quarter last year, the firm earned ($0.32) EPS. Equities research analysts anticipate that Viking Therapeutics will post -1.56 earnings per share for the current year.

Insider Buying and Selling

In other Viking Therapeutics news, Director Matthew W. Foehr sold 16,000 shares of Viking Therapeutics stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $35.11, for a total transaction of $561,760.00. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Greg Zante sold 57,661 shares of the business’s stock in a transaction on Monday, January 5th. The stock was sold at an average price of $32.90, for a total value of $1,897,046.90. Following the completion of the sale, the chief financial officer directly owned 189,891 shares in the company, valued at $6,247,413.90. This trade represents a 23.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 364,731 shares of company stock worth $12,053,627 over the last three months. 4.10% of the stock is owned by corporate insiders.

Institutional Trading of Viking Therapeutics

Several institutional investors have recently bought and sold shares of the company. Royal Bank of Canada raised its holdings in Viking Therapeutics by 13.0% in the first quarter. Royal Bank of Canada now owns 347,716 shares of the biotechnology company’s stock worth $8,396,000 after buying an additional 39,886 shares during the last quarter. Integrated Wealth Concepts LLC bought a new stake in shares of Viking Therapeutics during the first quarter valued at approximately $230,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Viking Therapeutics by 1.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 470,028 shares of the biotechnology company’s stock valued at $11,351,000 after acquiring an additional 6,696 shares in the last quarter. State of New Jersey Common Pension Fund D raised its holdings in Viking Therapeutics by 2.5% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 67,921 shares of the biotechnology company’s stock worth $1,800,000 after acquiring an additional 1,671 shares during the last quarter. Finally, Wealthfront Advisers LLC lifted its position in Viking Therapeutics by 14.7% in the 2nd quarter. Wealthfront Advisers LLC now owns 10,048 shares of the biotechnology company’s stock valued at $266,000 after acquiring an additional 1,289 shares in the last quarter. 76.03% of the stock is owned by hedge funds and other institutional investors.

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.