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

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

Several other analysts have also recently issued reports on VKTX. Cantor Fitzgerald cut their target price on Viking Therapeutics from $105.00 to $100.00 and set an “overweight” rating on the stock in a research note on Thursday, April 30th. Lake Street Capital began coverage on Viking Therapeutics in a research report on Thursday, May 28th. They set a “buy” rating and a $89.00 price target for the company. BTIG Research reiterated a “buy” rating and issued a $125.00 price objective on shares of Viking Therapeutics in a report on Friday, May 1st. Wolfe Research initiated coverage on Viking Therapeutics in a research report on Thursday, March 26th. They issued a “peer perform” rating on the stock. Finally, Truist Financial assumed coverage on Viking Therapeutics in a research note on Wednesday, May 27th. They set a “buy” rating and a $83.00 target price on the stock. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $93.60.

Viking Therapeutics Stock Up 4.3%

Shares of Viking Therapeutics stock opened at $37.95 on Monday. The firm has a market cap of $4.41 billion, a PE ratio of -9.17 and a beta of 0.66. Viking Therapeutics has a 12-month low of $22.96 and a 12-month high of $43.15. The company’s fifty day simple moving average is $33.51 and its two-hundred day simple moving average is $32.89.

Viking Therapeutics (NASDAQ:VKTX) last released its quarterly earnings data on Thursday, April 30th. The biotechnology company reported ($1.37) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.01) by ($0.36). During the same quarter in the previous year, the firm posted ($0.41) EPS. As a group, sell-side analysts expect that Viking Therapeutics will post -4.7 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Viking Therapeutics

A number of institutional investors have recently added to or reduced their stakes in VKTX. Raleigh Capital Management Inc. boosted its holdings in shares of Viking Therapeutics by 58.0% in the fourth quarter. Raleigh Capital Management Inc. now owns 945 shares of the biotechnology company’s stock worth $33,000 after buying an additional 347 shares during the last quarter. E Fund Management Co. Ltd. boosted its stake in shares of Viking Therapeutics by 2.4% during the 2nd quarter. E Fund Management Co. Ltd. now owns 17,580 shares of the biotechnology company’s stock worth $466,000 after acquiring an additional 406 shares during the last quarter. Prospera Financial Services Inc grew its position in shares of Viking Therapeutics by 5.1% during the 4th quarter. Prospera Financial Services Inc now owns 9,365 shares of the biotechnology company’s stock valued at $329,000 after acquiring an additional 455 shares during the period. Assetmark Inc. raised its holdings in Viking Therapeutics by 13.6% in the 1st quarter. Assetmark Inc. now owns 3,870 shares of the biotechnology company’s stock worth $126,000 after purchasing an additional 462 shares during the period. Finally, Northwestern Mutual Wealth Management Co. raised its stake in Viking Therapeutics by 29.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,109 shares of the biotechnology company’s stock worth $56,000 after acquiring an additional 481 shares during the period. Institutional investors own 76.03% of the company’s stock.

Viking Therapeutics Company Profile

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.