Viking Therapeutics (NASDAQ:VKTX) Rating Increased to Hold at Zacks Research

Zacks Research upgraded shares of Viking Therapeutics (NASDAQ:VKTX) from a strong sell rating to a hold rating in a research report report published on Wednesday morning,Zacks.com reports.

Other equities research analysts have also recently issued reports about the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Viking Therapeutics in a research note on Wednesday, January 21st. B. Riley Financial upgraded Viking Therapeutics to a “strong-buy” rating in a report on Thursday, October 23rd. Morgan Stanley reaffirmed an “overweight” rating and issued a $99.00 price target on shares of Viking Therapeutics in a research note on Thursday, February 12th. JPMorgan Chase & Co. reduced their price objective on shares of Viking Therapeutics from $80.00 to $75.00 and set an “overweight” rating on the stock in a research note on Friday, October 24th. Finally, Cantor Fitzgerald set a $105.00 price objective on shares of Viking Therapeutics in a report on Thursday, October 23rd. Three investment analysts have rated the stock with a Strong Buy rating, six have given 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 stock has an average rating of “Moderate Buy” and an average price target of $87.80.

Viking Therapeutics Trading Down 1.7%

Shares of VKTX traded down $0.54 on Wednesday, reaching $30.56. 340,791 shares of the company’s stock were exchanged, compared to its average volume of 3,378,861. The business has a 50 day moving average price of $32.55 and a two-hundred day moving average price of $32.50. Viking Therapeutics has a 12 month low of $18.92 and a 12 month high of $43.15. The stock has a market capitalization of $3.53 billion, a P/E ratio of -9.59 and a beta of 0.75.

Viking Therapeutics (NASDAQ:VKTX) last released its earnings results on Wednesday, February 11th. The biotechnology company reported ($1.38) EPS for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.49). During the same period in the previous year, the business earned ($0.32) EPS. Equities research analysts predict that Viking Therapeutics will post -1.56 EPS for the current year.

Insider Activity at Viking Therapeutics

In related news, Director Matthew W. Foehr sold 16,000 shares of the company’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $35.11, for a total value of $561,760.00. Following the completion of the transaction, the director directly owned 132,036 shares of the company’s stock, valued at approximately $4,635,783.96. This represents a 10.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Brian Lian sold 233,409 shares of the company’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $32.96, for a total value of $7,693,160.64. Following the transaction, the chief executive officer directly owned 2,499,291 shares of the company’s stock, valued at $82,376,631.36. This represents a 8.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 364,731 shares of company stock worth $12,053,627 over the last ninety days. 4.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Viking Therapeutics

Large investors have recently modified their holdings of the business. Allworth Financial LP boosted its holdings in shares of Viking Therapeutics by 58.4% in the 2nd quarter. Allworth Financial LP now owns 955 shares of the biotechnology company’s stock valued at $25,000 after buying an additional 352 shares during the last quarter. Glass Jacobson Investment Advisors llc bought a new stake in Viking Therapeutics during the second quarter worth $28,000. Elevation Point Wealth Partners LLC bought a new stake in Viking Therapeutics during the second quarter worth $29,000. Golden State Wealth Management LLC acquired a new stake in Viking Therapeutics in the third quarter valued at $30,000. Finally, Raleigh Capital Management Inc. grew its position in shares of Viking Therapeutics by 58.0% in the 4th quarter. Raleigh Capital Management Inc. now owns 945 shares of the biotechnology company’s stock valued at $33,000 after acquiring an additional 347 shares during the period. 76.03% of the stock is currently owned by institutional investors and hedge funds.

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.