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

Viking Therapeutics, Inc. (NASDAQ:VKTX) has been given a consensus recommendation of “Moderate Buy” by the sixteen research firms that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation, nine have issued a buy recommendation and three have issued a strong buy recommendation on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $87.1429.

A number of analysts have recently weighed in on the stock. Morgan Stanley increased their price objective on shares of Viking Therapeutics from $98.00 to $102.00 and gave the stock an “overweight” rating in a research note on Thursday, October 23rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Viking Therapeutics in a report on Wednesday, October 8th. JPMorgan Chase & Co. cut their price target on Viking Therapeutics from $80.00 to $75.00 and set an “overweight” rating on the stock in a research report on Friday, October 24th. Cantor Fitzgerald set a $105.00 price objective on Viking Therapeutics in a report on Thursday, October 23rd. Finally, Zacks Research raised Viking Therapeutics from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 19th.

Viking Therapeutics Stock Down 0.6%

Viking Therapeutics stock opened at $33.33 on Friday. The stock has a 50-day moving average price of $35.34 and a 200 day moving average price of $32.80. The company has a market capitalization of $3.77 billion, a price-to-earnings ratio of -15.72 and a beta of 0.71. Viking Therapeutics has a 52 week low of $18.92 and a 52 week high of $43.15.

Viking Therapeutics (NASDAQ:VKTX) last issued its quarterly earnings results on Wednesday, October 22nd. The biotechnology company reported ($0.81) earnings per share for the quarter, missing the consensus estimate of ($0.67) by ($0.14). During the same period in the prior year, the business posted ($0.22) EPS. The company’s revenue for the quarter was up .0% on a year-over-year basis. Research analysts anticipate that Viking Therapeutics will post -1.56 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Charles A. Rowland, Jr. sold 60,000 shares of Viking Therapeutics stock in a transaction that occurred on Monday, October 27th. The shares were sold at an average price of $35.57, for a total transaction of $2,134,200.00. Following the completion of the transaction, the director directly owned 30,000 shares of the company’s stock, valued at $1,067,100. The trade was a 66.67% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Marianna Mancini sold 57,661 shares of the business’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $32.98, for a total transaction of $1,901,659.78. Following the completion of the transaction, the chief operating officer owned 409,190 shares of the company’s stock, valued at approximately $13,495,086.20. This represents a 12.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 476,090 shares of company stock worth $15,985,782. Corporate insiders own 4.10% of the company’s stock.

Institutional Investors Weigh In On Viking Therapeutics

Hedge funds have recently modified their holdings of the company. Allworth Financial LP increased its stake 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 purchasing an additional 352 shares in the last quarter. Glass Jacobson Investment Advisors llc purchased a new stake in shares of Viking Therapeutics in the second quarter valued at approximately $28,000. Elevation Point Wealth Partners LLC purchased a new stake in shares of Viking Therapeutics in the second quarter valued at approximately $29,000. Golden State Wealth Management LLC acquired a new position in shares of Viking Therapeutics during the 3rd quarter worth approximately $30,000. Finally, Raleigh Capital Management Inc. lifted its position in shares of Viking Therapeutics by 58.0% during the 4th 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. 76.03% of the stock is 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.