Viking Therapeutics, Inc. (NASDAQ:VKTX) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Viking Therapeutics, Inc. (NASDAQ:VKTX) have been given an average rating of “Moderate Buy” by the fourteen brokerages that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $93.60.

A number of research firms have recently weighed in on VKTX. Truist Financial began coverage on shares of Viking Therapeutics in a research report on Wednesday. They issued a “buy” rating and a $83.00 target price on the stock. Wolfe Research began coverage on shares of Viking Therapeutics in a research report on Thursday, March 26th. They issued a “peer perform” rating on the stock. BTIG Research reaffirmed a “buy” rating and issued a $125.00 target price on shares of Viking Therapeutics in a research report on Friday, May 1st. Morgan Stanley set a $95.00 target price on shares of Viking Therapeutics in a research report on Thursday, April 30th. Finally, Zacks Research raised shares of Viking Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Wednesday, February 18th.

Insider Buying and Selling at Viking Therapeutics

In other Viking Therapeutics news, insider Neil William Aubuchon bought 4,475 shares of Viking Therapeutics stock in a transaction dated Tuesday, March 10th. The shares were purchased at an average cost of $33.50 per share, with a total value of $149,912.50. Following the transaction, the insider directly owned 4,475 shares of the company’s stock, valued at $149,912.50. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 5.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Viking Therapeutics

Several hedge funds have recently added to or reduced their stakes in the stock. CNB Bank grew its position in Viking Therapeutics by 5.1% during the third quarter. CNB Bank now owns 5,756 shares of the biotechnology company’s stock valued at $151,000 after buying an additional 279 shares during the period. Raleigh Capital Management Inc. raised its stake in Viking Therapeutics by 58.0% during the 4th 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. Montag A & Associates Inc. raised its stake in Viking Therapeutics by 6.4% during the 3rd quarter. Montag A & Associates Inc. now owns 6,620 shares of the biotechnology company’s stock worth $174,000 after acquiring an additional 400 shares during the period. E Fund Management Co. Ltd. raised its stake in Viking Therapeutics by 2.4% during the 2nd quarter. E Fund Management Co. Ltd. now owns 17,580 shares of the biotechnology company’s stock worth $466,000 after acquiring an additional 406 shares during the period. Finally, Arizona State Retirement System raised its stake in Viking Therapeutics by 1.3% during the 3rd quarter. Arizona State Retirement System now owns 31,547 shares of the biotechnology company’s stock worth $829,000 after acquiring an additional 416 shares during the period. 76.03% of the stock is owned by institutional investors.

Viking Therapeutics Trading Up 1.7%

Shares of VKTX opened at $32.19 on Friday. The firm’s 50-day moving average price is $32.61 and its 200-day moving average price is $33.48. The firm has a market capitalization of $3.74 billion, a price-to-earnings ratio of -7.78 and a beta of 0.72. Viking Therapeutics has a 1-year low of $22.96 and a 1-year high of $43.15.

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

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.