Viking Therapeutics' (VKTX) "Buy" Rating Reaffirmed at BTIG Research

Key Points

• BTIG reaffirmed a "Buy" rating on Viking Therapeutics with a $125.00 price target, which implies a 316.67% upside from the stock's current level.
• Analyst coverage is mixed but skewed positive: the consensus is a "Moderate Buy" with an average price target of $95.50 (3 Strong Buy, 6 Buy, 3 Hold, 1 Sell).
• Viking reported an earnings miss—EPS of ($1.37) vs. ($1.01) expected—and analysts forecast -4.56 EPS for the year; the stock trades around $30 with a ~$3.48 billion market cap.

Viking Therapeutics (NASDAQ:VKTX - Get Free Report)'s stock had its "buy" rating restated by investment analysts at BTIG Research in a report issued on Friday,Benzinga reports. They currently have a $125.00 target price on the biotechnology company's stock. BTIG Research's price target suggests a potential upside of 316.67% from the stock's current price.

Other analysts have also recently issued reports about the company. Cantor Fitzgerald reduced their price objective on Viking Therapeutics from $105.00 to $100.00 and set an "overweight" rating on the stock in a research note on Thursday. Wolfe Research assumed coverage on Viking Therapeutics in a research note on Thursday, March 26th. They issued a "peer perform" rating on the stock. Weiss Ratings reiterated a "sell (d-)" rating on shares of Viking Therapeutics in a research note on Monday, April 20th. Morgan Stanley set a $95.00 price target on Viking Therapeutics in a report on Thursday. Finally, HC Wainwright reaffirmed a "buy" rating and set a $102.00 price target on shares of Viking Therapeutics in a report on Monday, March 23rd. Three research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $95.50.

Viking Therapeutics Stock Performance

Shares of NASDAQ VKTX opened at $30.00 on Friday. The stock has a market cap of $3.48 billion, a P/E ratio of -7.25 and a beta of 0.72. Viking Therapeutics has a 12-month low of $22.96 and a 12-month high of $43.15. The business's fifty day simple moving average is $33.63 and its 200-day simple moving average is $34.02.

Viking Therapeutics (NASDAQ:VKTX - Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The biotechnology company reported ($1.37) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.01) by ($0.36). During the same quarter last year, the business posted ($0.41) earnings per share. On average, equities analysts forecast that Viking Therapeutics will post -4.56 EPS for the current fiscal year.

Insider Activity at Viking Therapeutics

In other news, insider Neil William Aubuchon bought 4,475 shares of the business's stock in a transaction dated Tuesday, March 10th. The shares were acquired at an average price of $33.50 per share, for a total transaction of $149,912.50. Following the completion of the transaction, the insider owned 4,475 shares of the company's stock, valued at approximately $149,912.50. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 5.30% of the company's stock.

Institutional Trading of Viking Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Ameriprise Financial Inc. increased its position in Viking Therapeutics by 41.8% in the 3rd quarter. Ameriprise Financial Inc. now owns 2,092,840 shares of the biotechnology company's stock valued at $55,000,000 after acquiring an additional 616,526 shares during the period. Two Sigma Investments LP increased its position in Viking Therapeutics by 58.7% in the 3rd quarter. Two Sigma Investments LP now owns 2,085,487 shares of the biotechnology company's stock valued at $54,807,000 after acquiring an additional 771,704 shares during the period. Geode Capital Management LLC increased its position in Viking Therapeutics by 24.0% in the 4th quarter. Geode Capital Management LLC now owns 1,994,509 shares of the biotechnology company's stock valued at $70,183,000 after acquiring an additional 385,903 shares during the period. BNP Paribas Financial Markets increased its position in Viking Therapeutics by 536.3% in the 4th quarter. BNP Paribas Financial Markets now owns 992,695 shares of the biotechnology company's stock valued at $34,923,000 after acquiring an additional 836,686 shares during the period. Finally, Raymond James Financial Inc. increased its position in Viking Therapeutics by 16.1% in the 3rd quarter. Raymond James Financial Inc. now owns 954,272 shares of the biotechnology company's stock valued at $25,078,000 after acquiring an additional 131,994 shares during the period. Institutional investors and hedge funds own 76.03% of the company's stock.

Viking Therapeutics Company Profile

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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