Viking Therapeutics (NASDAQ:VKTX) Upgraded at StockNews.com

Viking Therapeutics (NASDAQ:VKTX) was upgraded by equities research analysts at StockNews.com to a “sell” rating in a report released on Thursday.

Several other analysts also recently issued reports on VKTX. Morgan Stanley initiated coverage on shares of Viking Therapeutics in a report on Thursday. They set an “overweight” rating and a $105.00 price objective for the company. Truist Financial reaffirmed a “buy” rating and set a $120.00 price objective on shares of Viking Therapeutics in a report on Monday, June 17th. Oppenheimer increased their price target on shares of Viking Therapeutics from $116.00 to $138.00 and gave the company an “outperform” rating in a report on Tuesday, March 26th. BTIG Research increased their price target on shares of Viking Therapeutics from $100.00 to $125.00 and gave the company a “buy” rating in a report on Tuesday, March 26th. Finally, HC Wainwright reissued a “buy” rating and issued a $90.00 price target on shares of Viking Therapeutics in a report on Monday. One research analyst has rated the stock with a sell rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Viking Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $111.56.

Viking Therapeutics Price Performance

Shares of NASDAQ VKTX traded up $3.38 during trading hours on Thursday, hitting $50.77. 4,744,905 shares of the stock were exchanged, compared to its average volume of 4,877,941. The company’s 50 day moving average is $63.57 and its 200 day moving average is $51.00. The firm has a market capitalization of $5.60 billion, a P/E ratio of -54.59 and a beta of 1.04. Viking Therapeutics has a one year low of $8.28 and a one year high of $99.41.

Viking Therapeutics (NASDAQ:VKTX) last posted its quarterly earnings data on Wednesday, April 24th. The biotechnology company reported ($0.26) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.27) by $0.01. During the same quarter in the prior year, the company earned ($0.25) EPS. Research analysts anticipate that Viking Therapeutics will post -1.08 earnings per share for the current fiscal year.

Insider Transactions at Viking Therapeutics

In other news, COO Marianna Mancini sold 281,425 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $78.66, for a total transaction of $22,136,890.50. Following the completion of the transaction, the chief operating officer now directly owns 348,508 shares of the company’s stock, valued at approximately $27,413,639.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Greg Zante sold 66,756 shares of the stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $74.69, for a total transaction of $4,986,005.64. Following the completion of the sale, the chief financial officer now owns 174,854 shares in the company, valued at approximately $13,059,845.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Marianna Mancini sold 281,425 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $78.66, for a total transaction of $22,136,890.50. Following the completion of the sale, the chief operating officer now owns 348,508 shares of the company’s stock, valued at approximately $27,413,639.28. The disclosure for this sale can be found here. 4.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Viking Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Massmutual Trust Co. FSB ADV acquired a new stake in Viking Therapeutics in the 1st quarter valued at about $25,000. Lindbrook Capital LLC increased its position in Viking Therapeutics by 370.7% in the 1st quarter. Lindbrook Capital LLC now owns 353 shares of the biotechnology company’s stock valued at $29,000 after acquiring an additional 278 shares in the last quarter. Wetzel Investment Advisors Inc. acquired a new stake in Viking Therapeutics in the 4th quarter valued at about $37,000. LifeSteps Financial Inc. acquired a new stake in Viking Therapeutics in the 1st quarter valued at about $37,000. Finally, Spire Wealth Management acquired a new stake in Viking Therapeutics in the 1st quarter valued at about $61,000. Institutional investors and hedge funds own 76.03% of the company’s stock.

Viking Therapeutics Company Profile

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.