Analysts Set Viking Therapeutics, Inc. (NASDAQ:VKTX) PT at $93.60

Shares of Viking Therapeutics, Inc. (NASDAQ:VKTX) have earned an average recommendation of “Moderate Buy” from the fourteen research firms that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, three have issued a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $93.60.

Several research analysts have commented on VKTX shares. Truist Financial initiated coverage on shares of Viking Therapeutics in a report on Wednesday, May 27th. They set a “buy” rating and a $83.00 price objective for the company. Morgan Stanley set a $95.00 target price on Viking Therapeutics in a report on Thursday, April 30th. HC Wainwright reiterated a “buy” rating and issued a $102.00 target price on shares of Viking Therapeutics in a research report on Monday, March 23rd. Cantor Fitzgerald decreased their target price on Viking Therapeutics from $105.00 to $100.00 and set an “overweight” rating on the stock in a research report on Thursday, April 30th. Finally, Wolfe Research started coverage on Viking Therapeutics in a research note on Thursday, March 26th. They set a “peer perform” rating for the company.

Institutional Trading of Viking Therapeutics

Several hedge funds have recently modified their holdings of VKTX. Raleigh Capital Management Inc. grew its holdings in shares of Viking Therapeutics by 58.0% in the fourth quarter. Raleigh Capital Management Inc. now owns 945 shares of the biotechnology company’s stock valued at $33,000 after purchasing an additional 347 shares in the last quarter. Ballast Advisors LLC purchased a new stake in Viking Therapeutics during the first quarter valued at $33,000. Quattro Advisors LLC purchased a new stake in Viking Therapeutics during the fourth quarter valued at $37,000. Fifth Third Bancorp lifted its position in Viking Therapeutics by 169.2% during the fourth quarter. Fifth Third Bancorp now owns 1,077 shares of the biotechnology company’s stock valued at $38,000 after purchasing an additional 677 shares during the last quarter. Finally, Lodestone Wealth Management LLC bought a new position in Viking Therapeutics during the fourth quarter valued at $39,000. 76.03% of the stock is owned by hedge funds and other institutional investors.

Viking Therapeutics Stock Performance

VKTX stock opened at $37.97 on Friday. The company’s fifty day moving average price is $32.96 and its 200-day moving average price is $32.86. Viking Therapeutics has a one year low of $22.96 and a one year high of $43.15. The company has a market capitalization of $4.41 billion, a PE ratio of -9.17 and a beta of 0.66.

Viking Therapeutics (NASDAQ:VKTX) last posted its earnings results on Thursday, April 30th. The biotechnology company reported ($1.37) earnings per share for the quarter, missing the consensus estimate of ($1.01) by ($0.36). During the same quarter in the prior year, the firm earned ($0.41) EPS. On average, research analysts predict that Viking Therapeutics will post -4.7 EPS for the current fiscal year.

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.