Viking Therapeutics (NASDAQ:VKTX) Stock Rating Upgraded by Zacks Research

Viking Therapeutics (NASDAQ:VKTX) was upgraded by equities research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Wednesday,Zacks.com reports.

A number of other research analysts have also commented on VKTX. Canaccord Genuity Group lifted their price objective on shares of Viking Therapeutics from $106.00 to $107.00 and gave the company a “buy” rating in a research note on Wednesday, November 12th. Cantor Fitzgerald set a $105.00 target price on Viking Therapeutics in a research report on Thursday, October 23rd. B. Riley Financial raised Viking Therapeutics to a “strong-buy” rating in a report on Thursday, October 23rd. Morgan Stanley reaffirmed an “overweight” rating and set a $99.00 price objective on shares of Viking Therapeutics in a report on Thursday, February 12th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Viking Therapeutics from $80.00 to $75.00 and set an “overweight” rating on the stock in a research report on Friday, October 24th. Three analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $87.80.

Viking Therapeutics Price Performance

NASDAQ VKTX opened at $31.10 on Wednesday. The firm’s fifty day moving average price is $32.55 and its 200 day moving average price is $32.50. Viking Therapeutics has a 12 month low of $18.92 and a 12 month high of $43.15. The company has a market capitalization of $3.59 billion, a price-to-earnings ratio of -9.78 and a beta of 0.75.

Viking Therapeutics (NASDAQ:VKTX) last released its quarterly earnings data on Wednesday, February 11th. The biotechnology company reported ($1.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.89) by ($0.49). During the same quarter in the prior year, the business posted ($0.32) EPS. As a group, sell-side analysts forecast that Viking Therapeutics will post -1.56 earnings per share for the current year.

Insider Buying and Selling at Viking Therapeutics

In related news, CFO Greg Zante sold 57,661 shares of the business’s stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $32.90, for a total value of $1,897,046.90. Following the completion of the transaction, the chief financial officer owned 189,891 shares of the company’s stock, valued at approximately $6,247,413.90. The trade was a 23.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Marianna Mancini sold 57,661 shares of the business’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $32.98, for a total transaction of $1,901,659.78. Following the completion of the transaction, the chief operating officer directly owned 409,190 shares of the company’s stock, valued at approximately $13,495,086.20. This represents a 12.35% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 364,731 shares of company stock valued at $12,053,627. Company insiders own 4.10% of the company’s stock.

Hedge Funds Weigh In On Viking Therapeutics

Several large investors have recently added to or reduced their stakes in the business. Royal Bank of Canada increased its stake in shares of Viking Therapeutics by 13.0% during the 1st quarter. Royal Bank of Canada now owns 347,716 shares of the biotechnology company’s stock valued at $8,396,000 after acquiring an additional 39,886 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new position in Viking Therapeutics during the first quarter worth approximately $230,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Viking Therapeutics by 1.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 470,028 shares of the biotechnology company’s stock valued at $11,351,000 after purchasing an additional 6,696 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its holdings in shares of Viking Therapeutics by 34.9% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 14,607 shares of the biotechnology company’s stock worth $387,000 after buying an additional 3,779 shares during the last quarter. Finally, CWM LLC raised its position in shares of Viking Therapeutics by 79.4% in the 2nd quarter. CWM LLC now owns 6,355 shares of the biotechnology company’s stock worth $168,000 after buying an additional 2,813 shares during the period. 76.03% of the stock is currently owned by hedge funds and other institutional investors.

About Viking Therapeutics

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.