IFP Advisors Inc Acquires 10,048 Shares of Viking Therapeutics, Inc. $VKTX

Key Points

• IFP Advisors Inc increased its ownership in Viking Therapeutics by 24.0%, acquiring an additional 10,048 shares, bringing its total holdings to 51,925 shares valued at approximately $1.48 million.
• Viking Therapeutics' stock experienced a decline of 4.1%, with a market cap of $3.77 billion and a current stock price of $33.56, reflecting a 12-month range of $18.92 to $81.73.
• Analysts have varied opinions on Viking Therapeutics, with price targets ranging from $38.00 to $125.00, indicating a strong buy rating from some, while others maintain a sell rating.

IFP Advisors Inc grew its stake in Viking Therapeutics, Inc. (NASDAQ:VKTX - Free Report) by 24.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,925 shares of the biotechnology company's stock after acquiring an additional 10,048 shares during the period. IFP Advisors Inc's holdings in Viking Therapeutics were worth $1,476,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Nuveen LLC acquired a new position in Viking Therapeutics during the first quarter valued at approximately $9,283,000. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Viking Therapeutics by 59.2% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 597,515 shares of the biotechnology company's stock worth $14,430,000 after purchasing an additional 222,293 shares in the last quarter. Woodline Partners LP boosted its holdings in shares of Viking Therapeutics by 222.7% in the 1st quarter. Woodline Partners LP now owns 301,078 shares of the biotechnology company's stock valued at $7,271,000 after buying an additional 207,784 shares during the last quarter. Granahan Investment Management LLC grew its stake in shares of Viking Therapeutics by 20.4% in the first quarter. Granahan Investment Management LLC now owns 367,961 shares of the biotechnology company's stock valued at $8,886,000 after buying an additional 62,375 shares in the last quarter. Finally, Cetera Investment Advisers increased its holdings in Viking Therapeutics by 67.5% during the first quarter. Cetera Investment Advisers now owns 144,349 shares of the biotechnology company's stock worth $3,486,000 after buying an additional 58,168 shares during the last quarter. Institutional investors and hedge funds own 76.03% of the company's stock.

Viking Therapeutics Stock Down 4.1%

Viking Therapeutics stock opened at $33.56 on Monday. Viking Therapeutics, Inc. has a twelve month low of $18.92 and a twelve month high of $81.73. The stock has a market cap of $3.77 billion, a P/E ratio of -21.93 and a beta of 0.64. The company's 50-day moving average price is $29.29 and its two-hundred day moving average price is $28.09.

Viking Therapeutics (NASDAQ:VKTX - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The biotechnology company reported ($0.58) earnings per share for the quarter, missing analysts' consensus estimates of ($0.44) by ($0.14). The company's revenue for the quarter was up NaN% on a year-over-year basis. During the same period in the prior year, the company posted ($0.20) earnings per share. Equities analysts anticipate that Viking Therapeutics, Inc. will post -1.56 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have commented on the stock. BTIG Research reiterated a "buy" rating and issued a $125.00 price target on shares of Viking Therapeutics in a research note on Monday, September 22nd. Citigroup upped their target price on shares of Viking Therapeutics from $31.00 to $38.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. HC Wainwright reiterated a "buy" rating and set a $102.00 price target on shares of Viking Therapeutics in a report on Monday, September 29th. Weiss Ratings reissued a "sell (d-)" rating on shares of Viking Therapeutics in a research report on Wednesday, October 8th. Finally, Raymond James Financial cut their price objective on Viking Therapeutics from $125.00 to $122.00 and set a "strong-buy" rating for the company in a research report on Thursday, July 24th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $86.42.

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.

Want to see what other hedge funds are holding VKTX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Viking Therapeutics, Inc. (NASDAQ:VKTX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.