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

Shares of Viking Therapeutics, Inc. (NASDAQ:VKTX) have been given an average rating of “Moderate Buy” by the twelve ratings firms that are currently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, one has given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $97.8750.

Several brokerages have recently commented on VKTX. Cantor Fitzgerald decreased their price target on Viking Therapeutics from $105.00 to $100.00 and set an “overweight” rating on the stock in a research note on Thursday, April 30th. Truist Financial assumed coverage on Viking Therapeutics in a research note on Wednesday, May 27th. They issued a “buy” rating and a $83.00 price objective for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Viking Therapeutics in a report on Friday, July 17th. Morgan Stanley set a $95.00 target price on Viking Therapeutics in a research report on Thursday, April 30th. Finally, Zacks Research lowered Viking Therapeutics from a “hold” rating to a “strong sell” rating in a report on Monday, July 20th.

Viking Therapeutics Stock Up 0.5%

Shares of NASDAQ VKTX opened at $34.44 on Thursday. Viking Therapeutics has a 52 week low of $22.96 and a 52 week high of $43.15. The firm has a 50-day moving average price of $34.40 and a 200 day moving average price of $32.99. The stock has a market capitalization of $4.02 billion, a price-to-earnings ratio of -7.39 and a beta of 0.69.

Viking Therapeutics (NASDAQ:VKTX) last issued its earnings results on Wednesday, July 29th. The biotechnology company reported ($1.10) earnings per share for the quarter, topping the consensus estimate of ($1.21) by $0.11. During the same quarter last year, the business earned ($0.58) EPS. Viking Therapeutics’s quarterly revenue was up .0% on a year-over-year basis. Equities research analysts expect that Viking Therapeutics will post -4.5 EPS for the current fiscal year.

Insider Transactions at Viking Therapeutics

In related news, CFO Greg Zante sold 21,217 shares of the business’s stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $33.47, for a total value of $710,132.99. Following the sale, the chief financial officer directly owned 212,204 shares in the company, valued at $7,102,467.88. The trade was a 9.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Brian Lian sold 148,517 shares of the stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $33.32, for a total transaction of $4,948,586.44. Following the completion of the sale, the chief executive officer directly owned 2,572,441 shares in the company, valued at approximately $85,713,734.12. The trade was a 5.46% decrease in their ownership of the stock. 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. Insiders sold 187,951 shares of company stock valued at $6,268,442 in the last 90 days. 5.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Raleigh Capital Management Inc. grew its stake in shares of Viking Therapeutics by 58.0% in the fourth quarter. Raleigh Capital Management Inc. now owns 945 shares of the biotechnology company’s stock valued at $33,000 after buying an additional 347 shares in the last quarter. E Fund Management Co. Ltd. lifted its position 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 in the last quarter. Prospera Financial Services Inc lifted its position in Viking Therapeutics by 5.1% during the 4th quarter. Prospera Financial Services Inc now owns 9,365 shares of the biotechnology company’s stock worth $329,000 after acquiring an additional 455 shares in the last quarter. Assetmark Inc. boosted its holdings in Viking Therapeutics by 13.6% in the 1st quarter. Assetmark Inc. now owns 3,870 shares of the biotechnology company’s stock worth $126,000 after acquiring an additional 462 shares during the period. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in Viking Therapeutics by 29.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,109 shares of the biotechnology company’s stock worth $56,000 after acquiring an additional 481 shares during the period. 76.03% of the stock is owned by hedge funds and other institutional investors.

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.