Viking Therapeutics, Inc. (NASDAQ:VKTX) Receives $89.36 Average Target Price from Brokerages

Shares of Viking Therapeutics, Inc. (NASDAQ:VKTX) have been given an average recommendation of “Moderate Buy” by the thirteen research firms that are presently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation, six have given a buy recommendation and three have issued a strong buy recommendation on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $87.80.

A number of analysts recently commented on the company. Cantor Fitzgerald set a $105.00 price objective on Viking Therapeutics in a research note on Thursday, October 23rd. Canaccord Genuity Group upped their target price 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. JPMorgan Chase & Co. decreased their price target 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. Weiss Ratings reissued a “sell (d-)” rating on shares of Viking Therapeutics in a research report on Wednesday, January 21st. Finally, Zacks Research downgraded shares of Viking Therapeutics from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 20th.

Viking Therapeutics Price Performance

Shares of Viking Therapeutics stock opened at $30.45 on Wednesday. Viking Therapeutics has a 1 year low of $18.92 and a 1 year high of $43.15. The business has a 50 day moving average price of $32.82 and a 200 day moving average price of $32.53. The company has a market capitalization of $3.52 billion, a P/E ratio of -9.58 and a beta of 0.75.

Viking Therapeutics (NASDAQ:VKTX) last announced 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 quarter in the previous year, the business posted ($0.32) earnings per share. As a group, research analysts expect that Viking Therapeutics will post -1.56 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, COO Marianna Mancini sold 57,661 shares of the stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $32.98, for a total transaction of $1,901,659.78. Following the transaction, the chief operating officer directly owned 409,190 shares in the company, valued at approximately $13,495,086.20. This represents a 12.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Greg Zante sold 57,661 shares of the firm’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $32.90, for a total value of $1,897,046.90. Following the completion of the sale, the chief financial officer directly owned 189,891 shares in the company, valued at approximately $6,247,413.90. The trade was a 23.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 364,731 shares of company stock valued at $12,053,627. Insiders own 4.10% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Ameriprise Financial Inc. grew its holdings in Viking Therapeutics by 41.8% in the third quarter. Ameriprise Financial Inc. now owns 2,092,840 shares of the biotechnology company’s stock valued at $55,000,000 after purchasing an additional 616,526 shares during the period. Two Sigma Investments LP raised its stake in Viking Therapeutics by 58.7% during the third quarter. Two Sigma Investments LP now owns 2,085,487 shares of the biotechnology company’s stock worth $54,807,000 after purchasing an additional 771,704 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Viking Therapeutics by 24.0% in the 4th quarter. Geode Capital Management LLC now owns 1,994,509 shares of the biotechnology company’s stock valued at $70,183,000 after purchasing an additional 385,903 shares during the last quarter. Norges Bank acquired a new position in shares of Viking Therapeutics in the 2nd quarter valued at $46,846,000. Finally, BNP Paribas Financial Markets grew its stake in shares of Viking Therapeutics by 536.3% during the 4th quarter. BNP Paribas Financial Markets now owns 992,695 shares of the biotechnology company’s stock valued at $34,923,000 after buying an additional 836,686 shares during the period. 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.