BTIG Research Raises Viking Therapeutics (NASDAQ:VKTX) Price Target to $125.00

Viking Therapeutics (NASDAQ:VKTX) had its target price lifted by BTIG Research from $100.00 to $125.00 in a research report report published on Tuesday, Benzinga reports. The firm currently has a buy rating on the biotechnology company’s stock.

Other equities research analysts also recently issued reports about the stock. Raymond James upped their price target on shares of Viking Therapeutics from $37.00 to $115.00 and gave the company an outperform rating in a report on Tuesday, February 27th. Truist Financial upped their price objective on shares of Viking Therapeutics from $32.00 to $120.00 and gave the company a buy rating in a research note on Thursday, February 29th. Oppenheimer upped their price objective on shares of Viking Therapeutics from $46.00 to $116.00 and gave the company an outperform rating in a research note on Wednesday, February 28th. William Blair reaffirmed an outperform rating on shares of Viking Therapeutics in a research note on Friday, February 23rd. Finally, Maxim Group reaffirmed a buy rating and set a $120.00 price objective on shares of Viking Therapeutics in a research note on Friday, March 15th. One equities research analyst has rated the stock with a sell rating and ten have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $112.25.

Viking Therapeutics Trading Down 1.6 %

Shares of NASDAQ VKTX opened at $82.00 on Tuesday. Viking Therapeutics has a twelve month low of $8.28 and a twelve month high of $99.41. The company has a market capitalization of $8.24 billion, a price-to-earnings ratio of -89.13 and a beta of 1.06. The firm has a 50-day moving average of $51.39 and a two-hundred day moving average of $27.16.

Viking Therapeutics (NASDAQ:VKTX) last issued its quarterly earnings results on Wednesday, February 7th. The biotechnology company reported ($0.25) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.25). During the same quarter last year, the company earned ($0.26) earnings per share. As a group, research analysts predict that Viking Therapeutics will post -1.1 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Sarah Kathryn Rouan sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, January 19th. The shares were sold at an average price of $23.05, for a total transaction of $691,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CFO Greg Zante sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 4th. The shares were sold at an average price of $17.90, for a total transaction of $268,500.00. Following the transaction, the chief financial officer now owns 180,730 shares of the company’s stock, valued at $3,235,067. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Sarah Kathryn Rouan sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, January 19th. The shares were sold at an average price of $23.05, for a total transaction of $691,500.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 374,079 shares of company stock worth $9,729,653. 4.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Viking Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Retirement Group LLC raised its position in Viking Therapeutics by 75.0% during the second quarter. Retirement Group LLC now owns 2,100 shares of the biotechnology company’s stock valued at $34,000 after acquiring an additional 900 shares in the last quarter. Cetera Advisor Networks LLC bought a new position in Viking Therapeutics during the second quarter valued at approximately $36,000. Wetzel Investment Advisors Inc. bought a new position in Viking Therapeutics during the fourth quarter valued at approximately $37,000. Engineers Gate Manager LP bought a new position in shares of Viking Therapeutics in the first quarter valued at approximately $37,000. Finally, US Bancorp DE raised its position in shares of Viking Therapeutics by 66.5% in the fourth quarter. US Bancorp DE now owns 2,346 shares of the biotechnology company’s stock valued at $44,000 after purchasing an additional 937 shares during the period. Institutional investors own 76.03% of the company’s stock.

About Viking Therapeutics

Viking Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on the development of novel therapies for metabolic and endocrine disorders. The company's lead drug candidate is VK2809, an orally available tissue and receptor-subtype selective agonist of the thyroid hormone receptor beta (TRß), which is in Phase IIb clinical trials to treat patients with biopsy-confirmed non-alcoholic steatohepatitis, as well as NAFLD.