Viking Therapeutics (NASDAQ:VKTX – Free Report) had its price objective reduced by Canaccord Genuity Group from $114.00 to $106.00 in a research note published on Tuesday morning,Benzinga reports. They currently have a buy rating on the biotechnology company’s stock.
Several other equities research analysts have also issued reports on VKTX. Weiss Ratings reissued a “sell (d-)” rating on shares of Viking Therapeutics in a research report on Thursday, October 15th. Morgan Stanley restated an “overweight” rating on shares of Viking Therapeutics in a report on Tuesday, September 22nd. Oppenheimer set a $120.00 price target on shares of Viking Therapeutics in a research report on Tuesday, September 22nd. Wall Street Zen cut shares of Viking Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Sunday, October 4th. Finally, HC Wainwright reiterated a “buy” rating on shares of Viking Therapeutics in a report on Tuesday, September 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $98.10.
Check Out Our Latest Research Report on Viking Therapeutics
Viking Therapeutics Stock Performance
VKTX opened at $25.83 on Tuesday. The firm has a 50 day moving average price of $31.56 and a 200 day moving average price of $32.84. The company has a market cap of $3.25 billion, a PE ratio of -5.54 and a beta of 0.66. Viking Therapeutics has a 1 year low of $24.94 and a 1 year high of $43.15.
Viking Therapeutics (NASDAQ:VKTX – Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The biotechnology company reported ($1.10) EPS for the quarter, beating the consensus estimate of ($1.21) by $0.11. The firm’s revenue for the quarter was up .0% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.58) earnings per share. On average, sell-side analysts predict that Viking Therapeutics will post -4.46 earnings per share for the current year.
Insiders Place Their Bets
In other Viking Therapeutics news, CEO Brian Lian sold 148,517 shares of the company’s stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $33.32, for a total value of $4,948,586.44. Following the completion of the transaction, the chief executive officer owned 2,572,441 shares in the company, valued at $85,713,734.12. This represents a 5.46% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Marianna Mancini sold 18,217 shares of the stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $33.47, for a total transaction of $609,722.99. Following the completion of the sale, the chief operating officer directly owned 422,760 shares of the company’s stock, valued at $14,149,777.20. This trade represents a 4.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 187,951 shares of company stock worth $6,268,442 in the last 90 days. 5.30% of the stock is owned by company insiders.
Hedge Funds Weigh In On Viking Therapeutics
A number of institutional investors have recently added to or reduced their stakes in the company. Cornerstone Capital Inc. acquired a new stake in shares of Viking Therapeutics during the second quarter valued at about $3,334,000. Timothy G. Youngquist 2020 Irrevocable Trust increased its position in shares of Viking Therapeutics by 141.6% during the second quarter. Timothy G. Youngquist 2020 Irrevocable Trust now owns 271,849 shares of the biotechnology company’s stock worth $10,605,000 after acquiring an additional 159,349 shares during the last quarter. BlackRock Inc. acquired a new position in shares of Viking Therapeutics in the second quarter worth about $241,458,000. Dimensional Fund Advisors LP lifted its stake in shares of Viking Therapeutics by 18.0% in the first quarter. Dimensional Fund Advisors LP now owns 542,516 shares of the biotechnology company’s stock worth $17,653,000 after acquiring an additional 82,941 shares in the last quarter. Finally, Bank of America Corp DE purchased a new position in Viking Therapeutics in the second quarter valued at about $14,971,000. 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 headquartered in San Diego, California. Founded in 2012, the company develops therapies for metabolic and endocrine disorders, with a focus on conditions involving obesity, nonalcoholic steatohepatitis (NASH), and other liver and lipid disorders.
Viking’s lead program is VK2735, an investigational dual GLP-1/GIP receptor agonist being developed in injectable and oral formulations for obesity and related metabolic conditions.
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