Viking Therapeutics (NASDAQ:VKTX) Upgraded at UBS Group

UBS Group upgraded shares of Viking Therapeutics (NASDAQ:VKTX) to a strong-buy rating in a research note issued to investors on Wednesday,Zacks reports.

VKTX has been the topic of a number of other reports. Truist Financial lowered their target price on Viking Therapeutics from $87.00 to $85.00 and set a “buy” rating on the stock in a report on Wednesday, October 7th. Canaccord Genuity Group upped their price target on shares of Viking Therapeutics from $107.00 to $114.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Zacks Research upgraded shares of Viking Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 18th. HC Wainwright reaffirmed a “buy” rating on shares of Viking Therapeutics in a research note on Tuesday, September 22nd. Finally, Morgan Stanley reiterated an “overweight” rating on shares of Viking Therapeutics in a report on Tuesday, September 22nd. Three investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $98.90.

Viking Therapeutics Stock Performance

Shares of VKTX stock traded down $2.20 during mid-day trading on Wednesday, hitting $25.17. 7,570,039 shares of the stock traded hands, compared to its average volume of 9,789,389. Viking Therapeutics has a twelve month low of $24.94 and a twelve month high of $43.15. The firm has a market cap of $3.17 billion, a price-to-earnings ratio of -5.40 and a beta of 0.66. The company’s 50-day simple moving average is $32.18 and its 200-day simple moving average is $33.04.

Viking Therapeutics (NASDAQ:VKTX) last posted its quarterly earnings data on Wednesday, July 29th. The biotechnology company reported ($1.10) EPS for the quarter, topping analysts’ consensus estimates of ($1.21) by $0.11. The business’s revenue was up .0% on a year-over-year basis. During the same period in the prior year, the company posted ($0.58) earnings per share. Analysts forecast that Viking Therapeutics will post -4.46 earnings per share for the current year.

Insider Buying and Selling at Viking Therapeutics

In other Viking Therapeutics news, CFO Greg Zante sold 21,217 shares of the company’s stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $33.47, for a total transaction of $710,132.99. Following the completion of the sale, the chief financial officer directly owned 212,204 shares of the company’s stock, valued at approximately $7,102,467.88. This represents a 9.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Marianna Mancini sold 18,217 shares of the firm’s stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $33.47, for a total transaction of $609,722.99. Following the completion of the transaction, the chief operating officer owned 422,760 shares of the company’s stock, valued at approximately $14,149,777.20. The trade was a 4.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 187,951 shares of company stock valued at $6,268,442. 5.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Viking Therapeutics

Several hedge funds have recently made changes to their positions in the company. Vontobel Holding Ltd. acquired a new position in Viking Therapeutics in the 3rd quarter worth approximately $245,000. Activest Wealth Management grew its position in Viking Therapeutics by 117.9% during the 3rd quarter. Activest Wealth Management now owns 3,292 shares of the biotechnology company’s stock worth $107,000 after purchasing an additional 1,781 shares in the last quarter. MCF Advisors LLC raised its stake in Viking Therapeutics by 59,900.0% during the 2nd quarter. MCF Advisors LLC now owns 2,400 shares of the biotechnology company’s stock valued at $94,000 after purchasing an additional 2,396 shares during the period. WINTON GROUP Ltd acquired a new stake in Viking Therapeutics during the 2nd quarter valued at $3,532,000. Finally, Engineers Gate Manager LP purchased a new stake in shares of Viking Therapeutics in the second quarter valued at $1,823,000. Hedge funds and other institutional investors own 76.03% of the company’s stock.

About Viking Therapeutics

Viking Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing therapies for metabolic and endocrine disorders. The company’s research programs are aimed at conditions including obesity, metabolic dysfunction-associated steatohepatitis (MASH), and other diseases involving the liver and metabolism.

Viking’s leading program is VK2735, an investigational dual agonist of the glucagon-like peptide-1 (GLP-1) and glucose-dependent insulinotropic polypeptide (GIP) receptors.