Viking Therapeutics, Inc. (NASDAQ:VKTX) Receives Average Rating of “Moderate Buy” from Analysts

Viking Therapeutics, Inc. (NASDAQ:VKTX) has been assigned an average recommendation of “Moderate Buy” from the twelve analysts that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation, eight have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $96.6250.

Several equities research analysts recently commented on VKTX shares. Truist Financial initiated coverage on shares of Viking Therapeutics in a research report on Wednesday, May 27th. They issued a “buy” rating and a $83.00 price target for the company. Lake Street Capital started coverage on shares of Viking Therapeutics in a research note on Thursday, May 28th. They set a “buy” rating and a $89.00 target price on the stock. Zacks Research upgraded Viking Therapeutics from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 18th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Viking Therapeutics in a research report on Friday, July 17th. Finally, JPMorgan Chase & Co. decreased their target price on Viking Therapeutics from $75.00 to $65.00 and set an “overweight” rating for the company in a research report on Tuesday, August 11th.

Insider Buying and Selling

In other Viking Therapeutics news, CEO Brian Lian sold 148,517 shares of the firm’s stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $33.32, for a total transaction of $4,948,586.44. Following the completion of the sale, the chief executive officer directly owned 2,572,441 shares in the company, valued at approximately $85,713,734.12. This trade represents a 5.46% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Greg Zante sold 21,217 shares of the firm’s stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $33.47, for a total value of $710,132.99. Following the sale, the chief financial officer owned 212,204 shares of the company’s stock, valued at $7,102,467.88. The trade was a 9.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 187,951 shares of company stock valued at $6,268,442. Corporate insiders own 5.30% of the company’s stock.

Institutional Investors Weigh In On Viking Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ameritas Advisory Services LLC acquired a new stake in shares of Viking Therapeutics during the 2nd quarter valued at $32,000. Ballast Advisors LLC purchased a new stake in shares of Viking Therapeutics during the first quarter worth $33,000. Quattro Advisors LLC purchased a new stake in shares of Viking Therapeutics during the fourth quarter worth $37,000. Fifth Third Bancorp boosted its position in Viking Therapeutics by 169.2% during the fourth quarter. Fifth Third Bancorp now owns 1,077 shares of the biotechnology company’s stock valued at $38,000 after purchasing an additional 677 shares during the last quarter. Finally, Cassaday & Co Wealth Management LLC acquired a new stake in Viking Therapeutics during the first quarter valued at $50,000. Hedge funds and other institutional investors own 76.03% of the company’s stock.

Viking Therapeutics Trading Up 2.6%

NASDAQ VKTX opened at $34.87 on Monday. The stock’s 50-day moving average price is $35.41 and its two-hundred day moving average price is $33.46. The company has a market cap of $4.07 billion, a PE ratio of -7.48 and a beta of 0.69. Viking Therapeutics has a 1 year low of $22.96 and a 1 year high of $43.15.

Viking Therapeutics (NASDAQ:VKTX) last announced its earnings results on Wednesday, July 29th. The biotechnology company reported ($1.10) EPS for the quarter, topping the consensus estimate of ($1.21) by $0.11. Viking Therapeutics’s revenue for the quarter was up .0% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.58) earnings per share. Research analysts forecast that Viking Therapeutics will post -4.47 EPS for the current fiscal year.

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.