Viking Therapeutics, Inc. (NASDAQ:VKTX) Receives $16.00 Average Price Target from Analysts

Viking Therapeutics, Inc. (NASDAQ:VKTX) has been assigned an average rating of “Buy” from the six research firms that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $16.00.

Several analysts have recently issued reports on the stock. HC Wainwright restated a “buy” rating and set a $21.00 target price on shares of Viking Therapeutics in a research report on Thursday, June 17th. SVB Leerink assumed coverage on shares of Viking Therapeutics in a research report on Sunday, June 20th. They issued a “buy” rating and a $18.00 price objective on the stock. Zacks Investment Research raised shares of Viking Therapeutics from a “sell” rating to a “hold” rating in a research report on Friday, July 9th. Raymond James increased their price objective on shares of Viking Therapeutics from $12.00 to $13.00 and gave the stock an “outperform” rating in a research report on Thursday, July 29th. Finally, B. Riley reissued a “buy” rating and issued a $15.00 price objective on shares of Viking Therapeutics in a research report on Friday, June 18th.

Hedge funds have recently modified their holdings of the business. Rafferty Asset Management LLC grew its stake in Viking Therapeutics by 521.0% in the 1st quarter. Rafferty Asset Management LLC now owns 347,970 shares of the biotechnology company’s stock worth $2,201,000 after acquiring an additional 291,934 shares in the last quarter. Squarepoint Ops LLC grew its stake in Viking Therapeutics by 139.6% in the 1st quarter. Squarepoint Ops LLC now owns 106,255 shares of the biotechnology company’s stock worth $672,000 after acquiring an additional 61,907 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Viking Therapeutics by 32.3% during the first quarter. JPMorgan Chase & Co. now owns 39,423 shares of the biotechnology company’s stock valued at $251,000 after purchasing an additional 9,623 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Viking Therapeutics by 42.7% during the first quarter. Envestnet Asset Management Inc. now owns 28,956 shares of the biotechnology company’s stock valued at $183,000 after purchasing an additional 8,659 shares in the last quarter. Finally, UBS Group AG boosted its stake in shares of Viking Therapeutics by 260.0% during the first quarter. UBS Group AG now owns 305,594 shares of the biotechnology company’s stock valued at $1,932,000 after purchasing an additional 220,695 shares in the last quarter. Institutional investors and hedge funds own 48.68% of the company’s stock.

Shares of NASDAQ VKTX traded down $0.28 during mid-day trading on Tuesday, hitting $6.36. 606,045 shares of the company’s stock traded hands, compared to its average volume of 1,058,208. The company’s 50-day moving average is $6.11 and its two-hundred day moving average is $6.09. The company has a market capitalization of $497.29 million, a P/E ratio of -9.49 and a beta of 1.83. Viking Therapeutics has a 1 year low of $4.95 and a 1 year high of $10.09.

Viking Therapeutics (NASDAQ:VKTX) last announced its earnings results on Wednesday, July 28th. The biotechnology company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.01). On average, equities analysts expect that Viking Therapeutics will post -0.81 EPS for the current fiscal year.

About Viking Therapeutics

Viking Therapeutics, Inc is a clinical-stage biopharmaceutical company, which engages in the development of novel therapies for patients suffering from metabolic and endocrine disorders. The firm’s clinical program VK5211, treats patients recovering from non-elective hip fracture surgery. It also specializes in development of VK2809 and VK0214.

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Analyst Recommendations for Viking Therapeutics (NASDAQ:VKTX)

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