Brokerages Set Viking Therapeutics, Inc. (NASDAQ:VKTX) Price Target at $93.60

Shares of Viking Therapeutics, Inc. (NASDAQ:VKTX) have been assigned a consensus recommendation of “Moderate Buy” from the fourteen brokerages that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, eight have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $93.60.

A number of research analysts have recently commented on the company. BTIG Research reaffirmed a “buy” rating and set a $125.00 target price on shares of Viking Therapeutics in a research note on Friday, May 1st. Cantor Fitzgerald cut their target price on 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 reaffirmed a “buy” rating and set a $102.00 target price on shares of Viking Therapeutics in a research note on Monday, March 23rd. Truist Financial assumed coverage on Viking Therapeutics in a research note on Wednesday, May 27th. They set a “buy” rating and a $83.00 target price on the stock. Finally, Lake Street Capital assumed coverage on Viking Therapeutics in a research note on Thursday, May 28th. They set a “buy” rating and a $89.00 target price on the stock.

Viking Therapeutics Price Performance

Viking Therapeutics stock opened at $30.38 on Tuesday. The firm has a market capitalization of $3.53 billion, a P/E ratio of -7.34 and a beta of 0.69. Viking Therapeutics has a 1-year low of $22.96 and a 1-year high of $43.15. The company’s 50-day moving average is $31.49 and its 200 day moving average is $32.67.

Viking Therapeutics (NASDAQ:VKTX) last announced its earnings results on Thursday, April 30th. The biotechnology company reported ($1.37) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.01) by ($0.36). During the same quarter last year, the firm posted ($0.41) earnings per share. Research analysts anticipate that Viking Therapeutics will post -4.7 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. PVG Asset Management Corp grew its stake in shares of Viking Therapeutics by 69.7% during the first quarter. PVG Asset Management Corp now owns 19,853 shares of the biotechnology company’s stock valued at $588,000 after buying an additional 8,154 shares during the last quarter. Parallel Advisors LLC increased its position in shares of Viking Therapeutics by 32.6% during the first quarter. Parallel Advisors LLC now owns 14,020 shares of the biotechnology company’s stock worth $456,000 after acquiring an additional 3,447 shares during the period. Western Wealth Management LLC purchased a new position in shares of Viking Therapeutics during the first quarter worth approximately $101,000. ADAR1 Capital Management LLC increased its position in shares of Viking Therapeutics by 759.5% during the first quarter. ADAR1 Capital Management LLC now owns 227,717 shares of the biotechnology company’s stock worth $7,410,000 after acquiring an additional 201,223 shares during the period. Finally, Amundi purchased a new position in shares of Viking Therapeutics during the first quarter worth approximately $210,000. Institutional investors own 76.03% of the company’s stock.

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.