Viking Therapeutics (NASDAQ:VKTX)‘s stock had its “buy” rating reaffirmed by research analysts at HC Wainwright in a note issued to investors on Thursday. They presently have a $31.00 price objective on the biotechnology company’s stock. HC Wainwright’s target price points to a potential upside of 151.42% from the company’s current price.
The analysts wrote, “Valuation and risks to price target achievement. We reiterate our Buy rating and $31 price target. Our peak sales estimates for VK2806 and VK5211 are based on our U.S. projections, and believe overall that peak sales could be conservative because of the size of the addressable markets, the continuing unmet medical need, and no projections for ex-U.S. sales currently. Our price target is based on our clinical net present value (NPV) model, which allows us to flex multiple assumptions affecting a drug’s potential commercial profile.””
VKTX has been the subject of several other research reports. SunTrust Banks initiated coverage on shares of Viking Therapeutics in a research note on Friday, July 20th. They set a “buy” rating and a $14.00 price objective for the company. Raymond James set a $43.00 price objective on shares of Viking Therapeutics and gave the company a “buy” rating in a research note on Wednesday, September 19th. BidaskClub raised shares of Viking Therapeutics from a “hold” rating to a “buy” rating in a research note on Saturday, July 21st. William Blair reaffirmed an “outperform” rating on shares of Viking Therapeutics in a research note on Friday, August 10th. Finally, Maxim Group reaffirmed a “buy” rating and set a $28.00 price objective (up previously from $14.00) on shares of Viking Therapeutics in a research note on Tuesday, September 18th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $28.00.
Shares of NASDAQ:VKTX opened at $12.33 on Thursday. The company has a market cap of $851.64 million, a P/E ratio of -15.61 and a beta of 2.92. Viking Therapeutics has a 12 month low of $2.24 and a 12 month high of $24.00.
Viking Therapeutics (NASDAQ:VKTX) last issued its quarterly earnings data on Friday, November 9th. The biotechnology company reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.12) by $0.01. As a group, equities analysts forecast that Viking Therapeutics will post -0.44 EPS for the current year.
In other Viking Therapeutics news, major shareholder Ligand Pharmaceuticals Inc sold 262,881 shares of the business’s stock in a transaction that occurred on Tuesday, September 25th. The shares were sold at an average price of $19.15, for a total value of $5,034,171.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 3.90% of the stock is owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in VKTX. FMR LLC purchased a new position in Viking Therapeutics in the 3rd quarter worth approximately $125,858,000. BlackRock Inc. lifted its holdings in shares of Viking Therapeutics by 681.0% in the 2nd quarter. BlackRock Inc. now owns 2,938,645 shares of the biotechnology company’s stock worth $27,888,000 after acquiring an additional 2,562,356 shares during the last quarter. Janus Henderson Group PLC bought a new stake in shares of Viking Therapeutics in the 2nd quarter worth approximately $19,552,000. Acuta Capital Partners LLC bought a new stake in shares of Viking Therapeutics in the 2nd quarter worth approximately $7,118,000. Finally, Millennium Management LLC lifted its holdings in shares of Viking Therapeutics by 99.1% in the 1st quarter. Millennium Management LLC now owns 1,399,370 shares of the biotechnology company’s stock worth $6,115,000 after acquiring an additional 696,398 shares during the last quarter. 53.56% 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. Its lead clinical program, VK5211, is an orally available, non-steroidal selective androgen receptor modulator in Phase II development for the treatment of patients recovering from non-elective hip fracture surgery; in Phase I clinical trials for improving lean body mass; and in pre-clinical trial for improving bone mineral density, bone mineral content, bone strength, and other measures.
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