Viking Therapeutics (NASDAQ:VKTX) Raised to Strong-Buy at Truist Financial

Key Points

• Truist Financial upgraded Viking Therapeutics to a Strong-Buy, and the stock carries a consensus Buy rating from analysts with an average price target of $96.63.
• Shares opened at $32.99 (1‑year range $22.96–$43.15) with a $3.82B market cap, but the company reported quarterly EPS of ($1.38) versus ($0.89) expected and has a negative PE with analysts forecasting -3.78 EPS for the fiscal year.
• Insider Neil W. Aubuchon purchased 4,475 shares at $33.50 on March 10, insiders own about 5.30% of the stock and institutional investors hold roughly 76%.

Viking Therapeutics (NASDAQ:VKTX - Get Free Report) was upgraded by Truist Financial to a "strong-buy" rating in a research report issued on Monday,Zacks.com reports.

A number of other analysts have also commented on the company. BTIG Research raised Viking Therapeutics to a "strong-buy" rating in a research note on Thursday, February 26th. Morgan Stanley reaffirmed an "overweight" rating and issued a $99.00 target price on shares of Viking Therapeutics in a research report on Thursday, February 12th. HC Wainwright reiterated a "buy" rating and set a $102.00 price target on shares of Viking Therapeutics in a research report on Monday, March 23rd. Wolfe Research started coverage on shares of Viking Therapeutics in a report on Thursday, March 26th. They issued a "peer perform" rating for the company. Finally, Zacks Research upgraded Viking Therapeutics from a "strong sell" rating to a "hold" rating in a report on Wednesday, February 18th. Five analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Viking Therapeutics presently has a consensus rating of "Buy" and an average target price of $96.63.

Viking Therapeutics Price Performance

Shares of NASDAQ:VKTX opened at $32.99 on Monday. Viking Therapeutics has a 1 year low of $22.96 and a 1 year high of $43.15. The company has a market cap of $3.82 billion, a PE ratio of -10.37 and a beta of 0.83. The stock's 50-day moving average is $33.57 and its 200 day moving average is $34.06.

Viking Therapeutics (NASDAQ:VKTX - Get Free Report) last released its quarterly earnings data on Wednesday, February 11th. The biotechnology company reported ($1.38) earnings per share for the quarter, missing the consensus estimate of ($0.89) by ($0.49). During the same period last year, the firm posted ($0.32) earnings per share. Analysts expect that Viking Therapeutics will post -3.78 EPS for the current fiscal year.

Insider Activity

In other Viking Therapeutics news, insider Neil William Aubuchon purchased 4,475 shares of the stock in a transaction that occurred on Tuesday, March 10th. The stock was bought at an average cost of $33.50 per share, with a total value of $149,912.50. Following the transaction, the insider directly owned 4,475 shares in the company, valued at approximately $149,912.50. The trade was a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 5.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Viking Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the business. Golden State Wealth Management LLC purchased a new position in shares of Viking Therapeutics during the third quarter valued at approximately $30,000. Raleigh Capital Management Inc. grew its stake in shares of Viking Therapeutics by 58.0% in the 4th quarter. Raleigh Capital Management Inc. now owns 945 shares of the biotechnology company's stock worth $33,000 after buying an additional 347 shares during the last quarter. Quattro Advisors LLC bought a new position in Viking Therapeutics during the 4th quarter valued at approximately $37,000. Aster Capital Management DIFC Ltd purchased a new position in Viking Therapeutics during the third quarter valued at $38,000. Finally, Fifth Third Bancorp raised its stake in Viking Therapeutics by 169.3% during the fourth 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 last quarter. 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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