Zacks Research Downgrades Viking Therapeutics (NASDAQ:VKTX) to Strong Sell

Viking Therapeutics (NASDAQ:VKTX) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report released on Monday,Zacks.com reports.

A number of other brokerages have also commented on VKTX. Wolfe Research assumed coverage on shares of Viking Therapeutics in a report on Thursday, March 26th. They set a “peer perform” rating on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Viking Therapeutics in a research report on Friday. Cantor Fitzgerald decreased their price target on shares of Viking Therapeutics from $105.00 to $100.00 and set an “overweight” rating on the stock in a research note on Thursday, April 30th. HC Wainwright reissued a “buy” rating and set a $102.00 price target on shares of Viking Therapeutics in a research note on Monday, March 23rd. Finally, Lake Street Capital assumed coverage on shares of Viking Therapeutics in a report on Thursday, May 28th. They issued a “buy” rating and a $89.00 price target for the company. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $93.60.

Viking Therapeutics Stock Performance

Shares of VKTX stock opened at $37.95 on Monday. The stock’s fifty day moving average is $33.51 and its 200-day moving average is $32.89. The stock has a market capitalization of $4.41 billion, a PE ratio of -9.17 and a beta of 0.66. Viking Therapeutics has a 52 week low of $22.96 and a 52 week high of $43.15.

Viking Therapeutics (NASDAQ:VKTX) last released its quarterly earnings results on Thursday, April 30th. The biotechnology company reported ($1.37) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.01) by ($0.36). During the same quarter last year, the company earned ($0.41) earnings per share. As a group, analysts forecast that Viking Therapeutics will post -4.7 earnings per share for the current fiscal year.

Institutional Trading of Viking Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Raleigh Capital Management Inc. raised its position 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 valued at $33,000 after acquiring an additional 347 shares during the period. E Fund Management Co. Ltd. boosted its stake in Viking Therapeutics by 2.4% during the 2nd quarter. E Fund Management Co. Ltd. now owns 17,580 shares of the biotechnology company’s stock worth $466,000 after acquiring an additional 406 shares during the last quarter. Prospera Financial Services Inc grew its holdings in Viking Therapeutics by 5.1% during the fourth quarter. Prospera Financial Services Inc now owns 9,365 shares of the biotechnology company’s stock valued at $329,000 after purchasing an additional 455 shares during the period. Assetmark Inc. grew its holdings in Viking Therapeutics by 13.6% during the first quarter. Assetmark Inc. now owns 3,870 shares of the biotechnology company’s stock valued at $126,000 after purchasing an additional 462 shares during the period. Finally, Northwestern Mutual Wealth Management Co. increased its stake in Viking Therapeutics by 29.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,109 shares of the biotechnology company’s stock valued at $56,000 after purchasing an additional 481 shares in the last quarter. 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.