Oppenheimer Reiterates “Buy” Rating for Viking Therapeutics (NASDAQ:VKTX)

Oppenheimer restated their buy rating on shares of Viking Therapeutics (NASDAQ:VKTX) in a report published on Wednesday morning, AnalystRatings.com reports. The brokerage currently has a $12.00 price target on the biotechnology company’s stock.

VKTX has been the topic of a number of other research reports. B. Riley reduced their price target on Viking Therapeutics from $16.00 to $12.00 and set a buy rating on the stock in a research note on Monday, May 4th. BidaskClub lowered Viking Therapeutics from a hold rating to a sell rating in a research report on Wednesday, July 15th. Raymond James cut their target price on Viking Therapeutics from $41.00 to $25.00 and set a strong-buy rating on the stock in a research report on Friday, May 1st. BMO Capital Markets assumed coverage on Viking Therapeutics in a research report on Thursday, June 4th. They issued an outperform rating and a $14.00 target price on the stock. Finally, BTIG Research assumed coverage on Viking Therapeutics in a research report on Friday, May 1st. They issued a buy rating and a $9.00 target price on the stock. One research analyst has rated the stock with a sell rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Viking Therapeutics presently has an average rating of Buy and an average price target of $14.78.

Shares of Viking Therapeutics stock opened at $7.02 on Wednesday. Viking Therapeutics has a fifty-two week low of $3.26 and a fifty-two week high of $8.87. The business’s fifty day moving average is $7.11 and its two-hundred day moving average is $6.41.

Viking Therapeutics (NASDAQ:VKTX) last issued its quarterly earnings results on Wednesday, July 29th. The biotechnology company reported ($0.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.01. Analysts expect that Viking Therapeutics will post -0.6 earnings per share for the current fiscal year.

In related news, Director Matthew W. Foehr sold 13,000 shares of the stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $7.35, for a total value of $95,550.00. Following the completion of the sale, the director now directly owns 26,250 shares in the company, valued at approximately $192,937.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 3.70% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Great West Life Assurance Co. Can acquired a new stake in shares of Viking Therapeutics during the fourth quarter valued at about $30,000. Credit Suisse AG grew its stake in shares of Viking Therapeutics by 255.1% during the fourth quarter. Credit Suisse AG now owns 139,696 shares of the biotechnology company’s stock valued at $1,120,000 after acquiring an additional 100,356 shares in the last quarter. Stifel Financial Corp grew its stake in shares of Viking Therapeutics by 59.4% during the fourth quarter. Stifel Financial Corp now owns 34,854 shares of the biotechnology company’s stock valued at $290,000 after acquiring an additional 12,991 shares in the last quarter. Amalgamated Bank acquired a new stake in shares of Viking Therapeutics during the fourth quarter valued at about $84,000. Finally, Goldman Sachs Group Inc. grew its stake in shares of Viking Therapeutics by 49.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 142,755 shares of the biotechnology company’s stock valued at $1,145,000 after acquiring an additional 47,213 shares in the last quarter. Hedge funds and other institutional investors own 54.21% of the company’s stock.

About Viking Therapeutics

Viking Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on the development of novel therapies for metabolic and endocrine disorders. Its lead drug candidate is VK2809, an orally available tissue and receptor-subtype selective agonist of the thyroid hormone receptor beta, which is in Phase 2b clinical trials to treat patients with biopsy-confirmed non-alcoholic steatohepatitis.

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