Viking Therapeutics (NASDAQ:VKTX) Stock Rating Lowered by Zacks Research

Viking Therapeutics (NASDAQ:VKTX) was downgraded by stock analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Tuesday,Zacks.com reports.

A number of other research firms have also weighed in on VKTX. JPMorgan Chase & Co. lowered 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 report on Friday, October 24th. Morgan Stanley increased their target price on 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. Cantor Fitzgerald set a $105.00 target price on shares of Viking Therapeutics in a research report on Thursday, October 23rd. Finally, Canaccord Genuity Group increased their price target on shares of Viking Therapeutics from $106.00 to $107.00 and gave the company a “buy” rating in a report on Wednesday, November 12th. Three research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $87.14.

Viking Therapeutics Price Performance

Shares of NASDAQ:VKTX opened at $33.33 on Tuesday. Viking Therapeutics has a 1-year low of $18.92 and a 1-year high of $43.15. The stock has a market cap of $3.77 billion, a P/E ratio of -15.72 and a beta of 0.71. The firm has a fifty day moving average price of $35.34 and a 200 day moving average price of $32.80.

Viking Therapeutics (NASDAQ:VKTX) last announced its earnings results on Wednesday, October 22nd. The biotechnology company reported ($0.81) EPS for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.14). During the same quarter last year, the firm earned ($0.22) EPS. Viking Therapeutics’s revenue was up .0% compared to the same quarter last year. Sell-side analysts expect that Viking Therapeutics will post -1.56 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Greg Zante sold 57,661 shares of the firm’s stock in a transaction on Monday, January 5th. The stock was sold at an average price of $32.90, for a total transaction of $1,897,046.90. Following the sale, the chief financial officer owned 189,891 shares in the company, valued at $6,247,413.90. This trade represents a 23.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Charles A. Rowland, Jr. sold 60,000 shares of the stock in a transaction dated Monday, October 27th. The stock was sold at an average price of $35.57, for a total value of $2,134,200.00. Following the transaction, the director owned 30,000 shares in the company, valued at $1,067,100. This trade represents a 66.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 476,090 shares of company stock worth $15,985,782 in the last 90 days. 4.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Viking Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of VKTX. Jump Financial LLC purchased a new position in shares of Viking Therapeutics in the 2nd quarter valued at $12,201,000. Norges Bank acquired a new position in shares of Viking Therapeutics during the second quarter worth about $46,846,000. Marex Group plc purchased a new stake in shares of Viking Therapeutics in the second quarter worth about $983,000. Bryce Point Capital LLC acquired a new stake in shares of Viking Therapeutics in the second quarter valued at about $499,000. Finally, IFP Advisors Inc raised its holdings in shares of Viking Therapeutics by 24.0% during the 2nd quarter. IFP Advisors Inc now owns 51,925 shares of the biotechnology company’s stock valued at $1,476,000 after buying an additional 10,048 shares during the period. Institutional investors and hedge funds own 76.03% of the company’s stock.

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.