Wolfe Research Initiates Coverage on Viking Therapeutics (NASDAQ:VKTX)

Research analysts at Wolfe Research initiated coverage on shares of Viking Therapeutics (NASDAQ:VKTX) in a research note issued on Thursday. The firm set a “peer perform” rating on the biotechnology company’s stock.

A number of other brokerages have also recently commented on VKTX. Morgan Stanley reissued an “overweight” rating and set a $99.00 target price on shares of Viking Therapeutics in a report on Thursday, February 12th. BTIG Research upgraded Viking Therapeutics to a “strong-buy” rating in a research report on Thursday, February 26th. HC Wainwright reissued a “buy” rating and issued a $102.00 price objective on shares of Viking Therapeutics in a research note on Monday. Zacks Research upgraded Viking Therapeutics from a “strong sell” rating to a “hold” rating in a report on Wednesday, February 18th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Viking Therapeutics in a research note on Wednesday, January 21st. Four investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $87.80.

Viking Therapeutics Stock Performance

Shares of VKTX stock traded up $0.50 on Thursday, reaching $33.70. 143,048 shares of the company were exchanged, compared to its average volume of 3,003,256. Viking Therapeutics has a 1 year low of $18.92 and a 1 year high of $43.15. The business has a 50-day moving average price of $32.04 and a 200 day moving average price of $32.88. The company has a market cap of $3.89 billion, a price-to-earnings ratio of -10.59 and a beta of 0.75.

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

Insider Activity

In other Viking Therapeutics news, Director Matthew W. Foehr sold 16,000 shares of the stock in a transaction dated Friday, January 2nd. The shares were 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 of the company’s stock, valued at $4,635,783.96. This trade represents a 10.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Marianna Mancini sold 57,661 shares of the stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $32.98, for a total transaction of $1,901,659.78. Following the transaction, the chief operating officer directly owned 409,190 shares of the company’s stock, valued at approximately $13,495,086.20. This trade represents a 12.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 364,731 shares of company stock worth $12,053,627. 4.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Viking Therapeutics

Large investors have recently made changes to their positions in the stock. Elevation Point Wealth Partners LLC acquired a new stake in Viking Therapeutics during the 2nd quarter worth approximately $29,000. Golden State Wealth Management LLC purchased a new stake in shares of Viking Therapeutics during the third quarter worth $30,000. Raleigh Capital Management Inc. increased its position in shares of Viking Therapeutics by 58.0% during the fourth quarter. Raleigh Capital Management Inc. now owns 945 shares of the biotechnology company’s stock worth $33,000 after acquiring an additional 347 shares during the period. Quattro Advisors LLC acquired a new stake in shares of Viking Therapeutics in the fourth quarter valued at $37,000. Finally, Aster Capital Management DIFC Ltd acquired a new stake in shares of Viking Therapeutics in the third quarter valued at $38,000. 76.03% of the stock is currently owned by institutional investors and hedge funds.

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.