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

BTIG Research restated their buy rating on shares of Viking Therapeutics (NASDAQ:VKTX) in a report released on Friday morning,Benzinga reports. The brokerage currently has a $125.00 price objective on the biotechnology company’s stock.

A number of other equities research analysts also recently weighed in on VKTX. Zacks Research raised shares of Viking Therapeutics from a “strong sell” rating to a “hold” rating in a report on Wednesday, February 18th. Truist Financial raised shares of Viking Therapeutics to a “strong-buy” rating in a report on Monday, April 27th. HC Wainwright reissued a “buy” rating and issued a $102.00 price target on shares of Viking Therapeutics in a report on Monday, March 23rd. Morgan Stanley set a $95.00 price target on shares of Viking Therapeutics in a report on Thursday. Finally, Wolfe Research began coverage on shares of Viking Therapeutics in a report on Thursday, March 26th. They issued a “peer perform” rating for the company. Three investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $95.50.

Viking Therapeutics Price Performance

VKTX stock opened at $30.00 on Friday. The company has a market capitalization of $3.48 billion, a P/E ratio of -7.25 and a beta of 0.72. The company has a 50-day simple moving average of $33.63 and a 200 day simple moving average of $34.02. Viking Therapeutics has a fifty-two week low of $22.96 and a fifty-two week high of $43.15.

Viking Therapeutics (NASDAQ:VKTX) last posted 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 last year, the business earned ($0.41) EPS. Equities analysts anticipate that Viking Therapeutics will post -4.56 EPS for the current year.

Insider Buying and Selling

In other news, insider Neil William Aubuchon acquired 4,475 shares of Viking Therapeutics stock in a transaction on Tuesday, March 10th. The stock was bought at an average cost of $33.50 per share, with a total value of $149,912.50. Following the completion of the purchase, the insider owned 4,475 shares of the company’s stock, valued at $149,912.50. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 5.30% of the company’s stock.

Institutional Trading of Viking Therapeutics

Hedge funds have recently bought and sold shares of the company. Golden State Wealth Management LLC purchased a new stake in Viking Therapeutics during the third quarter valued at about $30,000. Raleigh Capital Management Inc. lifted its stake in Viking Therapeutics by 58.0% during the fourth quarter. Raleigh Capital Management Inc. now owns 945 shares of the biotechnology company’s stock valued at $33,000 after buying an additional 347 shares in the last quarter. Quattro Advisors LLC purchased a new stake in Viking Therapeutics during the fourth quarter valued at about $37,000. Aster Capital Management DIFC Ltd purchased a new stake in Viking Therapeutics during the third quarter valued at about $38,000. Finally, Fifth Third Bancorp lifted its stake in Viking Therapeutics by 169.3% during the fourth quarter. Fifth Third Bancorp now owns 1,077 shares of the biotechnology company’s stock valued at $38,000 after buying an additional 677 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.