Viking Therapeutics, Inc. (NASDAQ:VKTX) Given Consensus Rating of "Moderate Buy" by Brokerages

Key Points

• Viking Therapeutics has a “Moderate Buy” consensus rating from 12 analysts, including eight buys, one strong buy, two holds and one sell. The average 12-month price target is $96.63, well above the stock’s reported $32.16 price.
• The company reported quarterly adjusted earnings of -$1.10 per share, beating the consensus estimate of -$1.21, while analysts expect a full-year loss of approximately $4.47 per share.
• Institutional investors own 76.03% of the company, with BlackRock establishing a $241.5 million position and California State Teachers’ Retirement System significantly increasing its stake. Insiders sold shares recently, primarily to cover tax obligations from equity awards.

Shares of Viking Therapeutics, Inc. (NASDAQ:VKTX - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the twelve analysts that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, eight have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $96.6250.

Several brokerages recently weighed in on VKTX. Weiss Ratings reiterated a "sell (d-)" rating on shares of Viking Therapeutics in a research report on Friday, July 17th. Lake Street Capital initiated coverage on Viking Therapeutics in a research report on Thursday, May 28th. They issued a "buy" rating and a $89.00 target price on the stock. Zacks Research raised Viking Therapeutics from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 18th. JPMorgan Chase & Co. decreased their price target on Viking Therapeutics from $75.00 to $65.00 and set an "overweight" rating on the stock in a research note on Tuesday, August 11th. Finally, Truist Financial started coverage on Viking Therapeutics in a report on Wednesday, May 27th. They set a "buy" rating and a $83.00 price target for the company.

Viking Therapeutics Price Performance

NASDAQ:VKTX opened at $32.16 on Monday. The firm has a market capitalization of $3.75 billion, a price-to-earnings ratio of -6.90 and a beta of 0.69. The company's 50-day moving average is $35.64 and its two-hundred day moving average is $33.33. Viking Therapeutics has a 1-year low of $22.96 and a 1-year high of $43.15.

Viking Therapeutics (NASDAQ:VKTX - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The biotechnology company reported ($1.10) earnings per share for the quarter, beating the consensus estimate of ($1.21) by $0.11. The business's quarterly revenue was up .0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.58) earnings per share. As a group, equities analysts anticipate that Viking Therapeutics will post -4.47 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Viking Therapeutics news, CFO Greg Zante sold 21,217 shares of Viking Therapeutics 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 in the company, valued at $7,102,467.88. This trade represents a 9.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 Viking Therapeutics stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $33.47, for a total transaction of $609,722.99. Following the sale, the chief operating officer owned 422,760 shares of the company's stock, valued at approximately $14,149,777.20. This represents a 4.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 187,951 shares of company stock valued at $6,268,442 over the last 90 days. 5.30% of the stock is owned by company insiders.

Institutional Trading of Viking Therapeutics

Institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new position in Viking Therapeutics during the second quarter worth $241,458,000. California State Teachers Retirement System grew its stake in shares of Viking Therapeutics by 3,909.4% in the second quarter. California State Teachers Retirement System now owns 4,989,730 shares of the biotechnology company's stock valued at $194,649,000 after buying an additional 4,865,278 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Viking Therapeutics by 41.8% in the 3rd quarter. Ameriprise Financial Inc. now owns 2,092,840 shares of the biotechnology company's stock valued at $55,000,000 after buying an additional 616,526 shares during the period. Two Sigma Investments LP raised its holdings in shares of Viking Therapeutics by 58.7% in the 3rd quarter. Two Sigma Investments LP now owns 2,085,487 shares of the biotechnology company's stock valued at $54,807,000 after buying an additional 771,704 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in Viking Therapeutics by 24.0% during the 4th quarter. Geode Capital Management LLC now owns 1,994,509 shares of the biotechnology company's stock valued at $70,183,000 after acquiring an additional 385,903 shares during the period. Institutional investors and hedge funds 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.

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