Viking Therapeutics, Inc. (NASDAQ:VKTX) Receives Average Recommendation of "Moderate Buy" from Brokerages

Key Points

• Viking Therapeutics has an average analyst rating of “Moderate Buy” from 14 brokerages, with a consensus 12-month price target of $93.60.
• The stock was down 5.5% in Friday trading to $38.86, still well below its 52-week high of $43.15 and above its low of $22.96.
• The company recently reported a larger-than-expected quarterly loss of ($1.37) per share, missing analyst estimates, while hedge funds and other institutional investors own about 76% of the stock.

Viking Therapeutics, Inc. (NASDAQ:VKTX - Get Free Report) has been assigned an average rating of "Moderate Buy" from the fourteen analysts that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation, eight have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $93.60.

Several equities research analysts recently commented on the stock. BTIG Research restated a "buy" rating and issued a $125.00 price target on shares of Viking Therapeutics in a research report on Friday, May 1st. Truist Financial initiated coverage on shares of Viking Therapeutics in a research note on Wednesday, May 27th. They set a "buy" rating and a $83.00 target price on the stock. Wolfe Research began coverage on Viking Therapeutics in a report on Thursday, March 26th. They issued a "peer perform" rating for the company. Cantor Fitzgerald decreased their target price on Viking Therapeutics from $105.00 to $100.00 and set an "overweight" rating for the company in a research report on Thursday, April 30th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Viking Therapeutics in a report on Monday, April 20th.

Viking Therapeutics Trading Down 5.5%

VKTX stock traded down $2.28 during mid-day trading on Friday, reaching $38.86. 2,157,777 shares of the stock traded hands, compared to its average volume of 2,770,208. Viking Therapeutics has a 52-week low of $22.96 and a 52-week high of $43.15. The company has a market cap of $4.51 billion, a P/E ratio of -9.39 and a beta of 0.66. The stock's fifty day moving average is $32.69 and its 200-day moving average is $32.87.

Viking Therapeutics (NASDAQ:VKTX - Get Free Report) last announced its earnings results on Thursday, April 30th. The biotechnology company reported ($1.37) EPS for the quarter, missing the consensus estimate of ($1.01) by ($0.36). During the same period in the prior year, the business posted ($0.41) EPS. Equities research analysts expect that Viking Therapeutics will post -4.7 earnings per share for the current year.

Hedge Funds Weigh In On Viking Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the business. Raleigh Capital Management Inc. lifted its position 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 purchasing an additional 347 shares in the last quarter. Ballast Advisors LLC purchased a new position in Viking Therapeutics during the first quarter valued at approximately $33,000. Quattro Advisors LLC acquired a new position in Viking Therapeutics in the 4th quarter valued at approximately $37,000. Fifth Third Bancorp increased its stake in Viking Therapeutics by 169.2% in the 4th quarter. Fifth Third Bancorp now owns 1,077 shares of the biotechnology company's stock valued at $38,000 after buying an additional 677 shares during the period. Finally, Lodestone Wealth Management LLC purchased a new stake in Viking Therapeutics in the 4th quarter worth approximately $39,000. 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 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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