Analysts Set Viking Therapeutics Inc (NASDAQ:VKTX) Price Target at $23.48

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Viking Therapeutics Inc (NASDAQ:VKTX) has received a consensus rating of “Buy” from the eleven ratings firms that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation, eight have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $23.48.

VKTX has been the subject of several recent analyst reports. BidaskClub lowered Viking Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Wednesday, March 6th. Maxim Group lowered their price target on Viking Therapeutics from $28.00 to $20.00 and set a “buy” rating for the company in a research report on Thursday, March 14th. Leerink Swann initiated coverage on Viking Therapeutics in a research report on Friday, February 22nd. They issued a “market perform” rating and a $10.00 price target for the company. William Blair reaffirmed an “outperform” rating on shares of Viking Therapeutics in a research report on Friday, March 29th. Finally, Svb Leerink initiated coverage on Viking Therapeutics in a research report on Friday, February 22nd. They issued a “mkt perform” rating for the company.

Large investors have recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Viking Therapeutics in the 4th quarter worth about $30,000. Lindbrook Capital LLC purchased a new position in Viking Therapeutics in the 4th quarter worth about $36,000. US Bancorp DE purchased a new position in Viking Therapeutics in the 1st quarter worth about $41,000. Great West Life Assurance Co. Can purchased a new position in Viking Therapeutics in the 4th quarter worth about $53,000. Finally, Nisa Investment Advisors LLC purchased a new position in Viking Therapeutics in the 4th quarter worth about $60,000. 63.58% of the stock is owned by institutional investors and hedge funds.

Shares of VKTX traded up $0.21 during trading hours on Wednesday, hitting $7.98. The company had a trading volume of 665,841 shares, compared to its average volume of 2,871,371. The firm has a market cap of $559.81 million, a PE ratio of -19.95 and a beta of 2.38. Viking Therapeutics has a 52-week low of $6.97 and a 52-week high of $24.00.

Viking Therapeutics (NASDAQ:VKTX) last posted its quarterly earnings results on Thursday, May 2nd. The biotechnology company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.02. As a group, equities analysts anticipate that Viking Therapeutics will post -0.41 EPS for the current fiscal year.

About Viking Therapeutics

Viking Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on the development of novel therapies for metabolic and endocrine disorders. Its lead drug candidate is VK2809, an orally available tissue and receptor-subtype selective agonist of the thyroid hormone receptor beta, which is in Phase II clinical trials to treat patients with non-alcoholic fatty liver disease and elevated low-density lipoprotein cholesterol.

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Analyst Recommendations for Viking Therapeutics (NASDAQ:VKTX)

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