ValuEngine Downgrades Viking Therapeutics (NASDAQ:VKTX) to Buy

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Viking Therapeutics (NASDAQ:VKTX) was downgraded by ValuEngine from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Tuesday, ValuEngine reports.

VKTX has been the topic of a number of other research reports. Maxim Group reaffirmed a “buy” rating and issued a $14.00 price objective on shares of Viking Therapeutics in a report on Wednesday, November 6th. B. Riley started coverage on Viking Therapeutics in a report on Thursday, November 21st. They issued a “buy” rating and a $16.00 price objective on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $31.00 price objective on shares of Viking Therapeutics in a report on Tuesday, November 5th. Finally, BidaskClub downgraded shares of Viking Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Viking Therapeutics currently has a consensus rating of “Buy” and a consensus target price of $18.76.

Shares of VKTX opened at $7.12 on Tuesday. Viking Therapeutics has a twelve month low of $6.15 and a twelve month high of $11.66. The stock’s 50 day moving average is $7.12 and its two-hundred day moving average is $7.46. The firm has a market capitalization of $528.97 million, a PE ratio of -17.80 and a beta of 2.30.

Viking Therapeutics (NASDAQ:VKTX) last announced its quarterly earnings data on Tuesday, November 5th. The biotechnology company reported ($0.08) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.13) by $0.05. On average, equities analysts predict that Viking Therapeutics will post -0.39 EPS for the current fiscal year.

Several hedge funds have recently bought and sold shares of the company. BlackRock Inc. lifted its position in shares of Viking Therapeutics by 6.8% during the 2nd quarter. BlackRock Inc. now owns 4,395,385 shares of the biotechnology company’s stock valued at $36,482,000 after acquiring an additional 280,919 shares during the period. Vanguard Group Inc. lifted its position in shares of Viking Therapeutics by 19.0% during the 2nd quarter. Vanguard Group Inc. now owns 3,699,835 shares of the biotechnology company’s stock valued at $30,709,000 after acquiring an additional 590,194 shares during the period. Park West Asset Management LLC lifted its position in shares of Viking Therapeutics by 11.1% during the 2nd quarter. Park West Asset Management LLC now owns 1,747,507 shares of the biotechnology company’s stock valued at $14,504,000 after acquiring an additional 175,000 shares during the period. Northern Trust Corp lifted its position in shares of Viking Therapeutics by 1.6% during the 2nd quarter. Northern Trust Corp now owns 768,866 shares of the biotechnology company’s stock valued at $6,381,000 after acquiring an additional 11,916 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in shares of Viking Therapeutics by 15.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 369,002 shares of the biotechnology company’s stock valued at $3,063,000 after acquiring an additional 49,027 shares during the period. Institutional investors own 56.45% 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 drug candidate is VK2809, an orally available tissue and receptor-subtype selective agonist of the thyroid hormone receptor beta, which is in Phase II clinical trials to treat patients with non-alcoholic fatty liver disease and elevated low-density lipoprotein cholesterol.

Further Reading: Cost of Goods Sold (COGS)

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Viking Therapeutics (NASDAQ:VKTX)

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