Viking Therapeutics, Inc. (NASDAQ:VKTX) Receives $112.38 Average PT from Brokerages

Shares of Viking Therapeutics, Inc. (NASDAQ:VKTX) have earned a consensus rating of “Buy” from the ten analysts that are covering the firm, MarketBeat.com reports. Nine investment analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $111.56.

Several research firms have weighed in on VKTX. Truist Financial reaffirmed a “buy” rating and issued a $120.00 price target on shares of Viking Therapeutics in a report on Monday, June 17th. Raymond James reissued a “strong-buy” rating on shares of Viking Therapeutics in a research note on Tuesday, June 4th. BTIG Research raised their price objective on shares of Viking Therapeutics from $100.00 to $125.00 and gave the company a “buy” rating in a research report on Tuesday, March 26th. HC Wainwright reaffirmed a “buy” rating and set a $90.00 price objective on shares of Viking Therapeutics in a report on Monday. Finally, Jefferies Financial Group began coverage on Viking Therapeutics in a research note on Thursday, March 7th. They issued a “buy” rating and a $110.00 target price on the stock.

Viking Therapeutics Stock Up 7.1 %

Shares of NASDAQ:VKTX opened at $50.77 on Friday. The company has a 50 day moving average of $63.57 and a 200 day moving average of $51.00. Viking Therapeutics has a 12 month low of $8.28 and a 12 month high of $99.41.

Viking Therapeutics (NASDAQ:VKTX) last released its quarterly earnings results on Wednesday, April 24th. The biotechnology company reported ($0.26) EPS for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.01. During the same quarter in the previous year, the business earned ($0.25) EPS. On average, research analysts expect that Viking Therapeutics will post -1.08 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Greg Zante sold 66,756 shares of Viking Therapeutics stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $74.69, for a total value of $4,986,005.64. Following the transaction, the chief financial officer now directly owns 174,854 shares of the company’s stock, valued at $13,059,845.26. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Viking Therapeutics news, CFO Greg Zante sold 66,756 shares of the firm’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $74.69, for a total value of $4,986,005.64. Following the sale, the chief financial officer now owns 174,854 shares of the company’s stock, valued at approximately $13,059,845.26. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Marianna Mancini sold 281,425 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $78.66, for a total transaction of $22,136,890.50. Following the transaction, the chief operating officer now directly owns 348,508 shares of the company’s stock, valued at $27,413,639.28. The disclosure for this sale can be found here. 4.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Viking Therapeutics

A number of large investors have recently made changes to their positions in the business. Massmutual Trust Co. FSB ADV bought a new position in shares of Viking Therapeutics during the first quarter valued at approximately $25,000. Lindbrook Capital LLC lifted its position in shares of Viking Therapeutics by 370.7% in the 1st quarter. Lindbrook Capital LLC now owns 353 shares of the biotechnology company’s stock worth $29,000 after purchasing an additional 278 shares during the period. LifeSteps Financial Inc. bought a new stake in shares of Viking Therapeutics during the 1st quarter valued at about $37,000. Spire Wealth Management purchased a new position in shares of Viking Therapeutics during the first quarter valued at about $61,000. Finally, Global Retirement Partners LLC lifted its holdings in Viking Therapeutics by 125.6% in the first quarter. Global Retirement Partners LLC now owns 1,015 shares of the biotechnology company’s stock worth $83,000 after buying an additional 565 shares during the period. 76.03% of the stock is currently owned by institutional investors.

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.