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

Viking Therapeutics, Inc. (NASDAQ:VKTX) has received an average rating of “Moderate Buy” from the fourteen ratings firms that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation, eight have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $93.60.

A number of equities analysts recently commented on the company. BTIG Research restated a “buy” rating and issued a $125.00 price objective on shares of Viking Therapeutics in a report on Friday, May 1st. Lake Street Capital started coverage on shares of Viking Therapeutics in a research report on Thursday, May 28th. They issued a “buy” rating and a $89.00 target price for the company. Truist Financial started coverage on shares of Viking Therapeutics in a research note on Wednesday, May 27th. They set a “buy” rating and a $83.00 price target on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Viking Therapeutics in a report on Monday, April 20th. Finally, Cantor Fitzgerald reduced their price objective on shares of Viking Therapeutics from $105.00 to $100.00 and set an “overweight” rating for the company in a research note on Thursday, April 30th.

Hedge Funds Weigh In On Viking Therapeutics

Several institutional investors have recently bought and sold shares of the stock. Royal Bank of Canada increased its holdings in shares of Viking Therapeutics by 13.0% during the 1st quarter. Royal Bank of Canada now owns 347,716 shares of the biotechnology company’s stock valued at $8,396,000 after acquiring an additional 39,886 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new stake in Viking Therapeutics in the 1st quarter worth approximately $230,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Viking Therapeutics by 1.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 470,028 shares of the biotechnology company’s stock worth $11,351,000 after purchasing an additional 6,696 shares during the last quarter. Prudential Financial Inc. bought a new stake in Viking Therapeutics during the second quarter worth approximately $196,000. Finally, Northwestern Mutual Wealth Management Co. boosted its position in Viking Therapeutics by 29.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,109 shares of the biotechnology company’s stock worth $56,000 after purchasing an additional 481 shares during the period. 76.03% of the stock is currently owned by institutional investors.

Viking Therapeutics Price Performance

VKTX traded down $2.28 during trading on Friday, reaching $38.86. 2,157,777 shares of the stock traded hands, compared to its average volume of 2,770,208. The stock has a market cap of $4.51 billion, a price-to-earnings ratio of -9.39 and a beta of 0.66. Viking Therapeutics has a fifty-two week low of $22.96 and a fifty-two week high of $43.15. The stock’s 50-day simple moving average is $32.69 and its two-hundred day simple moving average is $32.87.

Viking Therapeutics (NASDAQ:VKTX) last posted its quarterly 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 period in the prior year, the firm earned ($0.41) earnings per share. Research analysts anticipate that Viking Therapeutics will post -4.7 earnings per share for the current fiscal year.

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.