Morgan Stanley Cuts Viking Therapeutics (NASDAQ:VKTX) Price Target to $102.00

Viking Therapeutics (NASDAQ:VKTX - Free Report) had its price objective trimmed by Morgan Stanley from $105.00 to $102.00 in a research note published on Thursday,Benzinga reports. The firm currently has an overweight rating on the biotechnology company's stock.

A number of other research firms also recently weighed in on VKTX. The Goldman Sachs Group started coverage on Viking Therapeutics in a research report on Tuesday, April 8th. They set a "neutral" rating and a $30.00 price target on the stock. Maxim Group cut their target price on shares of Viking Therapeutics from $120.00 to $70.00 and set a "buy" rating on the stock in a research note on Friday, February 7th. Citigroup started coverage on shares of Viking Therapeutics in a report on Friday, February 7th. They set a "neutral" rating and a $38.00 target price on the stock. B. Riley reaffirmed a "buy" rating and issued a $96.00 target price (down from $109.00) on shares of Viking Therapeutics in a report on Friday, February 7th. Finally, Piper Sandler lowered their price objective 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. One investment analyst has rated the stock with a sell rating, two have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $87.15.

Viking Therapeutics Stock Up 3.8 %

VKTX traded up $0.95 during trading on Thursday, reaching $25.94. 3,452,645 shares of the stock traded hands, compared to its average volume of 4,059,385. The stock's 50-day moving average is $26.47 and its 200 day moving average is $40.34. The stock has a market capitalization of $2.91 billion, a PE ratio of -25.94 and a beta of 0.84. Viking Therapeutics has a 12 month low of $18.92 and a 12 month high of $81.86.

Viking Therapeutics (NASDAQ:VKTX - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The biotechnology company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.31) by ($0.10). The firm's quarterly revenue was up .0% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.26) earnings per share. As a group, equities research analysts anticipate that Viking Therapeutics will post -1.56 EPS for the current year.

Insider Activity

In related news, Director Sarah Kathryn Rouan bought 1,240 shares of the firm's stock in a transaction that occurred on Monday, March 31st. The stock was purchased at an average cost of $24.15 per share, for a total transaction of $29,946.00. Following the completion of the acquisition, the director now owns 1,240 shares in the company, valued at approximately $29,946. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 4.10% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Virtu Financial LLC purchased a new position in Viking Therapeutics in the 4th quarter valued at $1,715,000. Institute for Wealth Management LLC. boosted its position in shares of Viking Therapeutics by 122.4% in the fourth quarter. Institute for Wealth Management LLC. now owns 80,602 shares of the biotechnology company's stock worth $3,243,000 after buying an additional 44,365 shares during the period. Janney Montgomery Scott LLC raised its position in shares of Viking Therapeutics by 103.1% in the 4th quarter. Janney Montgomery Scott LLC now owns 42,612 shares of the biotechnology company's stock valued at $1,715,000 after purchasing an additional 21,627 shares in the last quarter. Wesbanco Bank Inc. acquired a new position in shares of Viking Therapeutics in the 4th quarter worth approximately $475,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Viking Therapeutics in the 4th quarter worth approximately $528,000. 76.03% of the stock is owned by institutional investors and hedge funds.

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.