Viking Therapeutics (NASDAQ:VKTX) Coverage Initiated by Analysts at Cantor Fitzgerald

Analysts at Cantor Fitzgerald began coverage on shares of Viking Therapeutics (NASDAQ:VKTX - Get Free Report) in a note issued to investors on Monday,Benzinga reports. The firm set an "overweight" rating and a $104.00 price target on the biotechnology company's stock. Cantor Fitzgerald's price objective suggests a potential upside of 300.93% from the company's previous close.

Several other research firms have also recently commented on VKTX. Piper Sandler dropped their target price on shares of Viking Therapeutics from $74.00 to $71.00 and set an "overweight" rating on the stock in a research report on Thursday, February 6th. Truist Financial restated a "buy" rating and issued a $75.00 price objective (down previously from $95.00) on shares of Viking Therapeutics in a research note on Monday. B. Riley reiterated a "buy" rating and set a $96.00 target price (down from $109.00) on shares of Viking Therapeutics in a research note on Friday, February 7th. The Goldman Sachs Group initiated coverage on shares of Viking Therapeutics in a research report on Tuesday, April 8th. They set a "neutral" rating and a $30.00 price target for the company. Finally, Scotiabank assumed coverage on shares of Viking Therapeutics in a research note on Thursday, February 13th. They issued a "sector outperform" rating and a $102.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $87.15.

Viking Therapeutics Stock Up 3.8 %

Viking Therapeutics stock traded up $0.95 during trading hours on Monday, reaching $25.94. 3,445,786 shares of the company's stock were exchanged, compared to its average volume of 4,059,368. Viking Therapeutics has a twelve month low of $18.92 and a twelve month high of $81.86. The firm's 50 day simple moving average is $26.47 and its 200 day simple moving average is $40.34. The firm has a market capitalization of $2.91 billion, a PE ratio of -25.94 and a beta of 0.84.

Viking Therapeutics (NASDAQ:VKTX - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The biotechnology company reported ($0.41) EPS for the quarter, missing analysts' consensus estimates of ($0.31) by ($0.10). During the same quarter last year, the company earned ($0.26) earnings per share. Viking Therapeutics's revenue was up .0% compared to the same quarter last year. Analysts anticipate that Viking Therapeutics will post -1.56 EPS for the current year.

Insider Transactions at Viking Therapeutics

In other news, Director Sarah Kathryn Rouan purchased 1,240 shares of the company's stock in a transaction on Monday, March 31st. The stock was acquired at an average price of $24.15 per share, with a total value of $29,946.00. Following the transaction, the director now directly owns 1,240 shares of the company's stock, valued at approximately $29,946. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 4.10% of the company's stock.

Hedge Funds Weigh In On Viking Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of VKTX. S.A. Mason LLC raised its position in Viking Therapeutics by 20.0% during the 4th quarter. S.A. Mason LLC now owns 1,800 shares of the biotechnology company's stock valued at $72,000 after purchasing an additional 300 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of Viking Therapeutics by 75.9% during the fourth quarter. Blue Trust Inc. now owns 716 shares of the biotechnology company's stock valued at $29,000 after acquiring an additional 309 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich lifted its stake in Viking Therapeutics by 7.4% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 4,980 shares of the biotechnology company's stock worth $221,000 after acquiring an additional 345 shares during the period. Arizona State Retirement System boosted its holdings in Viking Therapeutics by 1.2% in the fourth quarter. Arizona State Retirement System now owns 28,929 shares of the biotechnology company's stock valued at $1,164,000 after acquiring an additional 353 shares in the last quarter. Finally, HighMark Wealth Management LLC increased its position in Viking Therapeutics by 9.4% during the 1st quarter. HighMark Wealth Management LLC now owns 4,660 shares of the biotechnology company's stock valued at $113,000 after purchasing an additional 400 shares during the period. 76.03% of the stock is owned by institutional investors.

About Viking Therapeutics

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.

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