Viking Therapeutics (NASDAQ:VKTX) Now Covered by Analysts at Lake Street Capital

Equities research analysts at Lake Street Capital began coverage on shares of Viking Therapeutics (NASDAQ:VKTX) in a report released on Thursday, Marketbeat.com reports. The brokerage set a “buy” rating and a $89.00 price target on the biotechnology company’s stock. Lake Street Capital’s price target would suggest a potential upside of 181.11% from the company’s previous close.

Several other research analysts have also recently commented on VKTX. HC Wainwright reissued a “buy” rating and set a $102.00 price target on shares of Viking Therapeutics in a research report on Monday, March 23rd. Cantor Fitzgerald dropped their target price on shares of Viking Therapeutics from $105.00 to $100.00 and set an “overweight” rating on the stock in a report on Thursday, April 30th. 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. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Viking Therapeutics in a report on Monday, April 20th. Finally, Zacks Research raised shares of Viking Therapeutics from a “strong sell” rating to a “hold” rating in a report on Wednesday, February 18th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $93.60.

Viking Therapeutics Stock Performance

Shares of NASDAQ VKTX opened at $31.66 on Thursday. The stock has a 50 day moving average price of $32.68 and a 200 day moving average price of $33.51. Viking Therapeutics has a 52 week low of $22.96 and a 52 week high of $43.15. The stock has a market capitalization of $3.68 billion, a PE ratio of -7.65 and a beta of 0.72.

Viking Therapeutics (NASDAQ:VKTX) last issued its quarterly earnings results on Thursday, April 30th. The biotechnology company reported ($1.37) EPS for the quarter, missing the consensus estimate of ($1.01) by ($0.36). During the same quarter in the previous year, the business earned ($0.41) earnings per share. As a group, research analysts forecast that Viking Therapeutics will post -4.67 EPS for the current year.

Insider Activity

In other news, insider Neil William Aubuchon bought 4,475 shares of the company’s stock in a transaction dated Tuesday, March 10th. The shares were bought at an average cost of $33.50 per share, with a total value of $149,912.50. Following the acquisition, the insider owned 4,475 shares in the company, valued at $149,912.50. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 5.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of VKTX. BNP Paribas Financial Markets grew its stake in Viking Therapeutics by 536.3% in the 4th quarter. BNP Paribas Financial Markets now owns 992,695 shares of the biotechnology company’s stock valued at $34,923,000 after buying an additional 836,686 shares during the last quarter. Two Sigma Investments LP grew its stake in Viking Therapeutics by 58.7% in the 3rd quarter. Two Sigma Investments LP now owns 2,085,487 shares of the biotechnology company’s stock valued at $54,807,000 after buying an additional 771,704 shares during the last quarter. Ameriprise Financial Inc. grew its stake in Viking Therapeutics by 41.8% in the 3rd quarter. Ameriprise Financial Inc. now owns 2,092,840 shares of the biotechnology company’s stock valued at $55,000,000 after buying an additional 616,526 shares during the last quarter. Cubist Systematic Strategies LLC increased its stake in shares of Viking Therapeutics by 6,315.6% during the second quarter. Cubist Systematic Strategies LLC now owns 596,650 shares of the biotechnology company’s stock worth $15,811,000 after purchasing an additional 587,350 shares during the period. Finally, Artia Global Partners LP increased its stake in shares of Viking Therapeutics by 392.1% during the fourth quarter. Artia Global Partners LP now owns 719,365 shares of the biotechnology company’s stock worth $25,307,000 after purchasing an additional 573,186 shares during the period. Institutional investors and hedge funds own 76.03% of the company’s stock.

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.