Viking Therapeutics (NASDAQ:VKTX) Rating Lowered to “Strong Sell” at Zacks Research

Viking Therapeutics (NASDAQ:VKTX) was downgraded by stock analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report released on Monday,Zacks.com reports.

A number of other research analysts have also commented on the stock. Morgan Stanley set a $95.00 price target on shares of Viking Therapeutics in a research report on Thursday, April 30th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Viking Therapeutics in a research report on Friday. HC Wainwright reissued a “buy” rating and set a $102.00 price objective on shares of Viking Therapeutics in a research note on Monday, March 23rd. BTIG Research restated a “buy” rating and set a $125.00 target price on shares of Viking Therapeutics in a research report on Friday, May 1st. Finally, Wolfe Research initiated coverage on Viking Therapeutics in a research note on Thursday, March 26th. They issued a “peer perform” rating on the stock. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $93.60.

Viking Therapeutics Trading Up 4.3%

Shares of Viking Therapeutics stock opened at $37.95 on Monday. The company’s 50-day moving average price is $33.51 and its 200-day moving average price is $32.89. Viking Therapeutics has a 12-month low of $22.96 and a 12-month high of $43.15. The company has a market cap of $4.41 billion, a price-to-earnings ratio of -9.17 and a beta of 0.66.

Viking Therapeutics (NASDAQ:VKTX) last issued its quarterly earnings data on Thursday, April 30th. The biotechnology company reported ($1.37) EPS for the quarter, missing the consensus estimate of ($1.01) by ($0.36). During the same quarter in the prior year, the firm earned ($0.41) EPS. On average, sell-side analysts predict that Viking Therapeutics will post -4.7 earnings per share for the current year.

Institutional Trading of Viking Therapeutics

Several institutional investors have recently added to or reduced their stakes in VKTX. Royal Bank of Canada lifted its stake in shares of Viking Therapeutics by 13.0% in 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 bought a new position in Viking Therapeutics during the 1st quarter worth approximately $230,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in 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 worth $11,351,000 after purchasing an additional 6,696 shares during the period. Prudential Financial Inc. purchased a new position in Viking Therapeutics in the 2nd quarter worth approximately $196,000. Finally, Northwestern Mutual Wealth Management Co. increased its stake in Viking Therapeutics by 29.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,109 shares of the biotechnology company’s stock worth $56,000 after purchasing an additional 481 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.