Viking Therapeutics, Inc. (NASDAQ:VKTX) Given Average Rating of “Buy” by Analysts

Shares of Viking Therapeutics, Inc. (NASDAQ:VKTX) have received a consensus rating of “Buy” from the thirteen analysts that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation, eleven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $97.67.

A number of research analysts have commented on VKTX shares. Raymond James upped their price target on Viking Therapeutics from $122.00 to $125.00 and gave the company a “strong-buy” rating in a research report on Thursday, February 6th. Citigroup assumed coverage on Viking Therapeutics in a research report on Friday, February 7th. They set a “neutral” rating and a $38.00 price target on the stock. Maxim Group lowered their price objective on Viking Therapeutics from $120.00 to $70.00 and set a “buy” rating for the company in a research report on Friday, February 7th. Scotiabank began coverage on shares of Viking Therapeutics in a research note on Thursday, February 13th. They issued a “sector outperform” rating and a $102.00 price target for the company. Finally, B. Riley restated a “buy” rating and issued a $96.00 price objective (down previously from $109.00) on shares of Viking Therapeutics in a report on Friday, February 7th.

Viking Therapeutics Trading Up 2.1 %

VKTX opened at $28.95 on Friday. The stock has a market capitalization of $3.25 billion, a P/E ratio of -28.95 and a beta of 0.90. The stock has a 50-day moving average price of $31.04 and a 200-day moving average price of $47.59. Viking Therapeutics has a 12-month low of $24.41 and a 12-month high of $89.10.

Viking Therapeutics (NASDAQ:VKTX) last announced its quarterly earnings results on Wednesday, February 5th. The biotechnology company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.05). During the same period last year, the firm earned ($0.25) earnings per share. On average, equities research analysts predict that Viking Therapeutics will post -1.56 EPS for the current year.

Insiders Place Their Bets

In related news, COO Marianna Mancini sold 54,215 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $42.75, for a total transaction of $2,317,691.25. Following the transaction, the chief operating officer now owns 374,134 shares in the company, valued at $15,994,228.50. This represents a 12.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Greg Zante sold 50,309 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $42.75, for a total transaction of $2,150,709.75. Following the completion of the sale, the chief financial officer now owns 165,259 shares in the company, valued at $7,064,822.25. This represents a 23.34 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 299,014 shares of company stock valued at $12,782,849. Corporate insiders own 4.70% of the company’s stock.

Hedge Funds Weigh In On Viking Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the company. OneDigital Investment Advisors LLC purchased a new stake in shares of Viking Therapeutics during the 3rd quarter valued at about $206,000. Thrivent Financial for Lutherans increased its holdings in Viking Therapeutics by 2.7% during the third quarter. Thrivent Financial for Lutherans now owns 28,251 shares of the biotechnology company’s stock valued at $1,789,000 after buying an additional 748 shares during the last quarter. Prospera Financial Services Inc bought a new position in Viking Therapeutics in the third quarter worth approximately $298,000. Avior Wealth Management LLC grew its position in shares of Viking Therapeutics by 39.1% during the 3rd quarter. Avior Wealth Management LLC now owns 3,172 shares of the biotechnology company’s stock valued at $201,000 after acquiring an additional 892 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its stake in shares of Viking Therapeutics by 4.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 248,269 shares of the biotechnology company’s stock worth $15,718,000 after purchasing an additional 11,668 shares in the last quarter. 76.03% of the stock is owned by institutional investors.

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.