Viking Therapeutics’ (VKTX) Buy Rating Reiterated at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Viking Therapeutics (NASDAQ:VKTX) in a research note published on Monday,Benzinga reports. The brokerage currently has a $102.00 price target on the biotechnology company’s stock.

Other equities analysts have also recently issued reports about the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Viking Therapeutics in a research report on Wednesday, January 21st. Zacks Research raised Viking Therapeutics from a “strong sell” rating to a “hold” rating in a report on Wednesday, February 18th. BTIG Research upgraded Viking Therapeutics to a “strong-buy” rating in a research note on Thursday, February 26th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $99.00 price target on shares of Viking Therapeutics in a report on Thursday, February 12th. Four investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $87.80.

Viking Therapeutics Stock Performance

NASDAQ:VKTX opened at $33.20 on Monday. The firm has a market cap of $3.84 billion, a P/E ratio of -10.44 and a beta of 0.75. Viking Therapeutics has a fifty-two week low of $18.92 and a fifty-two week high of $43.15. The firm has a 50-day simple moving average of $32.04 and a two-hundred day simple moving average of $32.88.

Viking Therapeutics (NASDAQ:VKTX) last issued its earnings results on Wednesday, February 11th. The biotechnology company reported ($1.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.89) by ($0.49). During the same period in the previous year, the company posted ($0.32) EPS. On average, equities research analysts predict that Viking Therapeutics will post -1.56 EPS for the current year.

Insider Buying and Selling at Viking Therapeutics

In related news, COO Marianna Mancini sold 57,661 shares of the firm’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $32.98, for a total value of $1,901,659.78. Following the transaction, the chief operating officer owned 409,190 shares of the company’s stock, valued at approximately $13,495,086.20. This trade 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 link. Also, Director Matthew W. Foehr sold 16,000 shares of the business’s stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $35.11, for a total transaction of $561,760.00. Following the sale, the director owned 132,036 shares of the company’s stock, valued at $4,635,783.96. This trade represents a 10.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 364,731 shares of company stock worth $12,053,627. 4.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. CNB Bank grew its position in shares of Viking Therapeutics by 5.1% during the 3rd quarter. CNB Bank now owns 5,756 shares of the biotechnology company’s stock valued at $151,000 after acquiring an additional 279 shares during the period. Raleigh Capital Management Inc. lifted its position in Viking Therapeutics by 58.0% during the fourth quarter. Raleigh Capital Management Inc. now owns 945 shares of the biotechnology company’s stock valued at $33,000 after purchasing an additional 347 shares in the last quarter. Allworth Financial LP lifted its position in Viking Therapeutics by 58.4% during the second 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. Montag A & Associates Inc. grew its holdings in Viking Therapeutics by 6.4% during the third quarter. Montag A & Associates Inc. now owns 6,620 shares of the biotechnology company’s stock valued at $174,000 after purchasing an additional 400 shares during the period. Finally, E Fund Management Co. Ltd. grew its holdings in Viking Therapeutics by 2.4% during the second quarter. E Fund Management Co. Ltd. now owns 17,580 shares of the biotechnology company’s stock valued at $466,000 after purchasing an additional 406 shares during the period. 76.03% of the stock is currently owned by 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.