Viking Therapeutics, Inc. (NASDAQ:VKTX) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Viking Therapeutics, Inc. (NASDAQ:VKTX) have been given a consensus rating of “Moderate Buy” by the twelve analysts that are currently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation, eight have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $96.6250.

Several equities research analysts have recently issued reports on VKTX shares. JPMorgan Chase & Co. lowered their price target on Viking Therapeutics from $75.00 to $65.00 and set an “overweight” rating on the stock in a research report on Tuesday. Canaccord Genuity Group boosted their price objective on Viking Therapeutics from $107.00 to $114.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Truist Financial started coverage on Viking Therapeutics in a research report on Wednesday, May 27th. They set a “buy” rating and a $83.00 price objective for the company. Lake Street Capital initiated coverage on Viking Therapeutics in a report on Thursday, May 28th. They issued a “buy” rating and a $89.00 target price on the stock. Finally, BTIG Research reaffirmed a “buy” rating and issued a $125.00 target price on shares of Viking Therapeutics in a report on Friday, May 1st.

Viking Therapeutics Trading Up 0.7%

NASDAQ VKTX opened at $34.02 on Thursday. Viking Therapeutics has a 1 year low of $22.96 and a 1 year high of $43.15. The company has a fifty day simple moving average of $34.58 and a 200 day simple moving average of $33.00. The company has a market cap of $3.97 billion, a P/E ratio of -7.30 and a beta of 0.69.

Viking Therapeutics (NASDAQ:VKTX) last announced its earnings results on Wednesday, July 29th. The biotechnology company reported ($1.10) EPS for the quarter, topping the consensus estimate of ($1.21) by $0.11. The company’s revenue for the quarter was up .0% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.58) earnings per share. Equities research analysts forecast that Viking Therapeutics will post -4.5 EPS for the current fiscal year.

Insider Activity

In related news, CFO Greg Zante sold 21,217 shares of the business’s stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $33.47, for a total transaction of $710,132.99. Following the transaction, the chief financial officer owned 212,204 shares of the company’s stock, valued at approximately $7,102,467.88. The trade was a 9.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Marianna Mancini sold 18,217 shares of the company’s stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $33.47, for a total transaction of $609,722.99. Following the transaction, the chief operating officer owned 422,760 shares of the company’s stock, valued at approximately $14,149,777.20. The trade was a 4.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 187,951 shares of company stock valued at $6,268,442. 5.30% of the stock is owned by company insiders.

Institutional Trading of Viking Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of VKTX. Commerce Bank bought a new position in shares of Viking Therapeutics during the 2nd quarter worth about $570,000. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Viking Therapeutics in the second quarter valued at about $56,000. Quantbot Technologies LP acquired a new stake in Viking Therapeutics during the second quarter worth about $111,000. Evolve Private Wealth LLC bought a new position in Viking Therapeutics during the second quarter valued at about $241,000. Finally, Emerald Investment Advisers LLC bought a new position in Viking Therapeutics during the second quarter valued at about $209,000. 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.