Viking Therapeutics (NASDAQ:VKTX) has been given a $28.00 price target by stock analysts at HC Wainwright in a note issued to investors on Tuesday, September 18th, Marketbeat.com reports. The brokerage presently has a “buy” rating on the biotechnology company’s stock. HC Wainwright’s price target suggests a potential upside of 93.64% from the company’s current price.
Other analysts have also recently issued research reports about the company. ValuEngine raised Viking Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, May 23rd. Raymond James began coverage on Viking Therapeutics in a research report on Thursday, June 28th. They issued an “outperform” rating and a $15.00 price objective for the company. Maxim Group reissued a “buy” rating and issued a $14.00 price objective (up previously from $8.00) on shares of Viking Therapeutics in a research report on Thursday, May 31st. Roth Capital raised their target price on Viking Therapeutics from $7.50 to $13.00 and gave the stock a “buy” rating in a research note on Friday, June 1st. Finally, SunTrust Banks began coverage on Viking Therapeutics in a research note on Friday, July 20th. They issued a “buy” rating and a $14.00 target price for the company. One analyst has rated the stock with a sell rating, one has assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $28.17.
NASDAQ:VKTX traded up $0.59 during midday trading on Tuesday, hitting $14.46. The stock had a trading volume of 3,679,927 shares, compared to its average volume of 2,872,746. Viking Therapeutics has a one year low of $2.00 and a one year high of $24.00. The stock has a market cap of $1.06 billion, a P/E ratio of -18.30 and a beta of 2.81.
In other Viking Therapeutics news, major shareholder Ligand Pharmaceuticals Inc sold 262,881 shares of Viking Therapeutics stock in a transaction dated Tuesday, September 25th. The stock was sold at an average price of $19.15, for a total transaction of $5,034,171.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 3.90% of the company’s stock.
Several large investors have recently bought and sold shares of VKTX. Janney Montgomery Scott LLC acquired a new stake in shares of Viking Therapeutics during the 2nd quarter valued at about $114,000. Strs Ohio acquired a new stake in Viking Therapeutics in the 2nd quarter worth about $120,000. Cubist Systematic Strategies LLC acquired a new stake in Viking Therapeutics in the 2nd quarter worth about $129,000. State Board of Administration of Florida Retirement System acquired a new stake in Viking Therapeutics in the 2nd quarter worth about $144,000. Finally, Metropolitan Life Insurance Co. NY acquired a new stake in Viking Therapeutics in the 2nd quarter worth about $145,000. Hedge funds and other institutional investors own 53.22% 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. Its lead clinical program, VK5211, is an orally available, non-steroidal selective androgen receptor modulator in Phase II development for the treatment of patients recovering from non-elective hip fracture surgery; in Phase I clinical trials for improving lean body mass; and in pre-clinical trial for improving bone mineral density, bone mineral content, bone strength, and other measures.
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