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 research note issued on Tuesday,Zacks.com reports.

VKTX has been the subject of several other research reports. Lake Street Capital initiated coverage on shares of Viking Therapeutics in a report on Thursday, May 28th. They issued a “buy” rating and a $89.00 target price for the company. Morgan Stanley set a $95.00 price target on Viking Therapeutics in a research note on Thursday, April 30th. JPMorgan Chase & Co. lowered their price target on Viking Therapeutics from $75.00 to $65.00 and set an “overweight” rating for the company in a research report on Tuesday, August 11th. BTIG Research reaffirmed a “buy” rating and issued a $125.00 price objective on shares of Viking Therapeutics in a research note on Friday, May 1st. Finally, Cantor Fitzgerald cut their price objective on Viking Therapeutics from $105.00 to $100.00 and set an “overweight” rating on the stock in a report on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $96.62.

Viking Therapeutics Stock Performance

Shares of Viking Therapeutics stock opened at $35.98 on Tuesday. The business’s 50 day moving average price is $35.07 and its 200 day moving average price is $33.09. The company has a market cap of $4.20 billion, a price-to-earnings ratio of -7.72 and a beta of 0.69. Viking Therapeutics has a one year low of $22.96 and a one year high of $43.15.

Viking Therapeutics (NASDAQ:VKTX) last posted its earnings results on Wednesday, July 29th. The biotechnology company reported ($1.10) earnings per share for the quarter, beating the consensus estimate of ($1.21) by $0.11. The company’s revenue was up .0% compared to the same quarter last year. During the same quarter last year, the business earned ($0.58) earnings per share. On average, analysts predict that Viking Therapeutics will post -4.47 EPS for the current fiscal year.

Insider Transactions at Viking Therapeutics

In other news, COO Marianna Mancini sold 18,217 shares of the business’s stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $33.47, for a total value of $609,722.99. Following the completion of the sale, the chief operating officer directly owned 422,760 shares of the company’s stock, valued at approximately $14,149,777.20. The trade was a 4.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Greg Zante sold 21,217 shares of the business’s stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $33.47, for a total value of $710,132.99. Following the completion of the sale, the chief financial officer owned 212,204 shares of the company’s stock, valued at approximately $7,102,467.88. This represents a 9.09% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 187,951 shares of company stock valued at $6,268,442. Corporate insiders own 5.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Ballast Advisors LLC acquired a new stake in shares of Viking Therapeutics in the 1st quarter worth $33,000. Quattro Advisors LLC purchased a new position in shares of Viking Therapeutics in the 4th quarter valued at about $37,000. Fifth Third Bancorp lifted its stake in shares of Viking Therapeutics by 169.2% in the fourth quarter. Fifth Third Bancorp now owns 1,077 shares of the biotechnology company’s stock valued at $38,000 after purchasing an additional 677 shares during the period. Allworth Financial LP acquired a new stake in shares of Viking Therapeutics in the second quarter valued at about $53,000. Finally, TD Waterhouse Canada Inc. boosted its holdings in Viking Therapeutics by 250.0% during the fourth quarter. TD Waterhouse Canada Inc. now owns 1,400 shares of the biotechnology company’s stock worth $49,000 after buying an additional 1,000 shares in the last quarter. 76.03% of the stock is currently 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.