Viking Therapeutics, Inc. (NASDAQ:VKTX) Stock Has Average Target Price of $99.67

Key Points

• Analysts maintain a moderately bullish view: Viking Therapeutics has a consensus “Moderate Buy” rating from 12 firms, with an average 12-month price target of $99.67.
• VK2735 data support the obesity-drug opportunity: Patients retained about 90% of prior weight loss with every-other-week dosing and 85% with monthly dosing, though the maintenance groups were small and follow-up lasted only 12 weeks.
• Funding improves development prospects but creates dilution: Viking raised approximately $500 million through stock and convertible-note offerings to fund Phase 3 trials and oral VK2735 development, while the equity issuance pressured shares and diluted existing holders.

Viking Therapeutics, Inc. (NASDAQ:VKTX - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the twelve ratings firms that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation, eight have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $99.67.

VKTX has been the topic of several research reports. Canaccord Genuity Group boosted their price objective on shares of Viking Therapeutics from $107.00 to $114.00 and gave the company a "buy" rating in a research report on Thursday, July 30th. HC Wainwright reiterated a "buy" rating on shares of Viking Therapeutics in a report on Tuesday. Zacks Research raised Viking Therapeutics from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 18th. Morgan Stanley restated an "overweight" rating on shares of Viking Therapeutics in a report on Tuesday. Finally, Truist Financial upped their price objective on Viking Therapeutics from $83.00 to $87.00 and gave the stock a "buy" rating in a research report on Wednesday.

More Viking Therapeutics News

Here are the key news stories impacting Viking Therapeutics this week:

• Positive Sentiment: VK2735 maintenance data continue to support Viking’s potential differentiation in the obesity market. Patients retained approximately 90% of prior weight loss with every-other-week dosing and 85% with monthly dosing, suggesting a possible convenience and adherence advantage over weekly injections. However, the maintenance groups were small and follow-up lasted only 12 weeks. Viking Therapeutics Advances VK2735 Obesity Trial
• Positive Sentiment: The financing should provide substantial capital for Viking’s Phase 3 VANQUISH trials, oral VK2735 development and maintenance studies. The company’s larger cash position may reduce near-term funding risk as it advances toward expected 2027 Phase 3 readouts. Viking Therapeutics Prices Upsized $500 Million Offering
• Neutral Sentiment: Unusually heavy call-option activity and renewed takeover speculation involving large pharmaceutical companies indicate continued investor interest, but neither signals a transaction or guarantees further gains.
• Negative Sentiment: Viking priced an upsized offering of 7,857,143 common shares at $35 each and $225 million of 2.00% convertible senior notes due 2032, raising approximately $500 million. The equity issuance dilutes existing shareholders, while the discounted share price pressured the stock; one investor reportedly purchased roughly one-third of the equity portion. Viking Therapeutics Prices Upsized $500 Million Offering of Common Stock and Convertible Senior Notes
• Negative Sentiment: Investors are also reassessing the recent VK2735 rally after shares approached prior resistance near $43. The positive maintenance results remain early-stage, and Viking still must prove long-term efficacy, safety, manufacturing capability and commercial funding against Eli Lilly, Novo Nordisk and other competitors.

Viking Therapeutics Stock Performance

Shares of VKTX stock opened at $36.75 on Friday. The company has a market capitalization of $4.29 billion, a P/E ratio of -7.89 and a beta of 0.69. The company's 50 day moving average price is $33.86 and its two-hundred day moving average price is $33.57. Viking Therapeutics has a 52 week low of $24.88 and a 52 week high of $43.15.

Viking Therapeutics (NASDAQ:VKTX - Get Free Report) last released 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. During the same quarter last year, the firm posted ($0.58) earnings per share. The firm's quarterly revenue was up .0% compared to the same quarter last year. Analysts forecast that Viking Therapeutics will post -4.47 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 that occurred on Wednesday, July 29th. The stock was sold at an average price of $33.47, for a total transaction of $710,132.99. Following the completion of the transaction, the chief financial officer owned 212,204 shares of the company's stock, valued at $7,102,467.88. This represents a 9.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Brian Lian sold 148,517 shares of the firm's stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $33.32, for a total transaction of $4,948,586.44. Following the transaction, the chief executive officer directly owned 2,572,441 shares of the company's stock, valued at $85,713,734.12. This represents a 5.46% 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. In the last quarter, insiders have sold 187,951 shares of company stock worth $6,268,442. Corporate insiders own 5.30% of the company's stock.

Institutional Trading of Viking Therapeutics

A number of institutional investors have recently made changes to their positions in the business. Ameritas Advisory Services LLC acquired a new stake in Viking Therapeutics in the 2nd quarter valued at $32,000. Ballast Advisors LLC bought a new stake in Viking Therapeutics during the 1st quarter worth about $33,000. Allworth Financial LP acquired a new position in shares of Viking Therapeutics during the 2nd quarter worth about $53,000. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Viking Therapeutics during the 2nd quarter worth about $56,000. Finally, Cassaday & Co Wealth Management LLC bought a new position in shares of Viking Therapeutics in the 1st quarter valued at about $50,000. 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 developing therapies for metabolic and endocrine disorders. The company's research programs target conditions including obesity, nonalcoholic steatohepatitis (NASH), metabolic dysfunction-associated steatohepatitis (MASH), dyslipidemia and other disorders involving hormone regulation and metabolism.

Viking's lead program is VK2735, an investigational dual agonist of the glucagon-like peptide-1 (GLP-1) and glucose-dependent insulinotropic polypeptide (GIP) receptors being developed in injectable and oral formulations for obesity and related metabolic conditions.

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