Viking Therapeutics (NASDAQ:VKTX) Stock Rating Upgraded by Zacks Research

Viking Therapeutics (NASDAQ:VKTX) was upgraded by equities research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report issued on Wednesday,Zacks.com reports.

VKTX has been the subject of several other reports. B. Riley Financial raised shares of Viking Therapeutics to a “strong-buy” rating in a research note on Thursday, October 23rd. Canaccord Genuity Group increased their target price on Viking Therapeutics from $106.00 to $107.00 and gave the stock a “buy” rating in a research note on Wednesday, November 12th. JPMorgan Chase & Co. cut their price objective on shares of Viking Therapeutics from $80.00 to $75.00 and set an “overweight” rating for the company in a report on Friday, October 24th. Morgan Stanley reaffirmed an “overweight” rating and issued a $99.00 price objective on shares of Viking Therapeutics in a report on Thursday, February 12th. Finally, Cantor Fitzgerald set a $105.00 price target on shares of Viking Therapeutics in a report on Thursday, October 23rd. Three analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $87.80.

Viking Therapeutics Stock Down 0.2%

NASDAQ VKTX traded down $0.07 during trading on Wednesday, reaching $31.03. 604,766 shares of the stock traded hands, compared to its average volume of 3,387,927. Viking Therapeutics has a fifty-two week low of $18.92 and a fifty-two week high of $43.15. The stock’s 50-day moving average price is $32.55 and its 200 day moving average price is $32.50. The firm has a market cap of $3.59 billion, a price-to-earnings ratio of -9.78 and a beta of 0.75.

Viking Therapeutics (NASDAQ:VKTX) last announced its quarterly earnings results on Wednesday, February 11th. The biotechnology company reported ($1.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.89) by ($0.49). During the same period in the prior year, the company posted ($0.32) earnings per share. Analysts anticipate that Viking Therapeutics will post -1.56 EPS for the current fiscal year.

Insider Activity at Viking Therapeutics

In other news, CFO Greg Zante sold 57,661 shares of the company’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $32.90, for a total value of $1,897,046.90. Following the completion of the sale, the chief financial officer owned 189,891 shares in the company, valued at $6,247,413.90. This represents a 23.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, 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 sale, the director owned 132,036 shares of the company’s stock, valued at approximately $4,635,783.96. This trade represents a 10.81% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 364,731 shares of company stock worth $12,053,627 over the last three months. 4.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Viking Therapeutics

Several large investors have recently made changes to their positions in the business. Allworth Financial LP raised its stake in shares of Viking Therapeutics by 58.4% during the 2nd quarter. Allworth Financial LP now owns 955 shares of the biotechnology company’s stock valued at $25,000 after purchasing an additional 352 shares during the period. Glass Jacobson Investment Advisors llc purchased a new position in Viking Therapeutics during the 2nd quarter valued at about $28,000. Elevation Point Wealth Partners LLC bought a new stake in shares of Viking Therapeutics during the second quarter valued at about $29,000. Golden State Wealth Management LLC purchased a new stake in shares of Viking Therapeutics in the third quarter worth about $30,000. Finally, Raleigh Capital Management Inc. lifted its holdings in shares of Viking Therapeutics by 58.0% in the fourth quarter. Raleigh Capital Management Inc. now owns 945 shares of the biotechnology company’s stock worth $33,000 after buying an additional 347 shares in the last quarter. 76.03% of the stock is owned by hedge funds and other institutional investors.

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.