Truist Financial Begins Coverage on Viking Therapeutics (NASDAQ:VKTX)

Investment analysts at Truist Financial started coverage on shares of Viking Therapeutics (NASDAQ:VKTX) in a note issued to investors on Wednesday. The firm set a “buy” rating and a $83.00 price target on the biotechnology company’s stock. Truist Financial’s price objective would suggest a potential upside of 159.50% from the stock’s previous close.

Other analysts also recently issued research reports about the company. Wolfe Research began coverage on Viking Therapeutics in a research note on Thursday, March 26th. They issued a “peer perform” rating on the stock. Zacks Research upgraded Viking Therapeutics from a “strong sell” rating to a “hold” rating in a report on Wednesday, February 18th. Morgan Stanley set a $95.00 price target on shares of Viking Therapeutics in a research note on Thursday, April 30th. HC Wainwright restated a “buy” rating and set a $102.00 price objective on shares of Viking Therapeutics in a research note on Monday, March 23rd. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Viking Therapeutics in a research note on Monday, April 20th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $94.11.

Viking Therapeutics Stock Up 3.8%

Shares of NASDAQ:VKTX traded up $1.19 during midday trading on Wednesday, reaching $31.99. The company’s stock had a trading volume of 308,181 shares, compared to its average volume of 2,687,861. The firm has a 50 day moving average of $32.77 and a 200-day moving average of $33.55. The firm has a market capitalization of $3.71 billion, a P/E ratio of -7.73 and a beta of 0.72. Viking Therapeutics has a 12-month low of $22.96 and a 12-month high of $43.15.

Viking Therapeutics (NASDAQ:VKTX) last posted its quarterly earnings data on Thursday, April 30th. The biotechnology company reported ($1.37) EPS for the quarter, missing the consensus estimate of ($1.01) by ($0.36). During the same period last year, the company earned ($0.41) EPS. On average, research analysts predict that Viking Therapeutics will post -4.67 EPS for the current year.

Insider Activity

In other Viking Therapeutics news, insider Neil William Aubuchon acquired 4,475 shares of the company’s stock in a transaction that occurred on Tuesday, March 10th. The shares were bought at an average cost of $33.50 per share, with a total value of $149,912.50. Following the completion of the transaction, the insider directly owned 4,475 shares of the company’s stock, valued at approximately $149,912.50. This represents a ? increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Viking Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. BNP Paribas Financial Markets grew its position in Viking Therapeutics by 536.3% in the 4th quarter. BNP Paribas Financial Markets now owns 992,695 shares of the biotechnology company’s stock worth $34,923,000 after purchasing an additional 836,686 shares during the period. Two Sigma Investments LP boosted its stake in shares of Viking Therapeutics by 58.7% in the 3rd quarter. Two Sigma Investments LP now owns 2,085,487 shares of the biotechnology company’s stock worth $54,807,000 after buying an additional 771,704 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Viking Therapeutics by 41.8% in the third quarter. Ameriprise Financial Inc. now owns 2,092,840 shares of the biotechnology company’s stock worth $55,000,000 after acquiring an additional 616,526 shares during the period. Cubist Systematic Strategies LLC increased its position in Viking Therapeutics by 6,315.6% during the second quarter. Cubist Systematic Strategies LLC now owns 596,650 shares of the biotechnology company’s stock valued at $15,811,000 after acquiring an additional 587,350 shares during the last quarter. Finally, Artia Global Partners LP lifted its holdings in Viking Therapeutics by 392.1% in the fourth quarter. Artia Global Partners LP now owns 719,365 shares of the biotechnology company’s stock valued at $25,307,000 after acquiring an additional 573,186 shares during the period. Institutional investors own 76.03% of the company’s stock.

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.