Viking Therapeutics (NASDAQ:VKTX – Get Free Report) had its price target boosted by equities researchers at Canaccord Genuity Group from $106.00 to $118.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the biotechnology company’s stock. Canaccord Genuity Group‘s target price suggests a potential upside of 332.55% from the stock’s previous close.
VKTX has been the topic of a number of other reports. Morgan Stanley reissued an “overweight” rating on shares of Viking Therapeutics in a research report on Tuesday, September 22nd. JPMorgan Chase & Co. reduced their price objective on Viking Therapeutics from $75.00 to $65.00 and set an “overweight” rating for the company in a research report on Tuesday, August 11th. Truist Financial cut their price objective on shares of Viking Therapeutics from $87.00 to $85.00 and set a “buy” rating for the company in a research report on Wednesday, October 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Viking Therapeutics in a report on Thursday, October 15th. Finally, Barclays raised Viking Therapeutics to a “strong-buy” rating in a report on Tuesday, October 13th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Viking Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $93.36.
Read Our Latest Stock Report on VKTX
Viking Therapeutics Stock Performance
NASDAQ VKTX opened at $27.28 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 7.27 and a current ratio of 7.27. The stock has a market cap of $3.44 billion, a P/E ratio of -5.05 and a beta of 0.66. The stock has a 50 day simple moving average of $30.51 and a two-hundred day simple moving average of $32.42. Viking Therapeutics has a fifty-two week low of $23.82 and a fifty-two week high of $43.15.
Viking Therapeutics (NASDAQ:VKTX – Get Free Report) last released its quarterly earnings results on Wednesday, October 28th. The biotechnology company reported ($1.55) earnings per share for the quarter, missing the consensus estimate of ($1.06) by ($0.49). During the same quarter last year, the company posted ($0.81) EPS. On average, analysts forecast that Viking Therapeutics will post -5.26 earnings per share for the current year.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in VKTX. Ameritas Advisory Services LLC acquired a new stake in shares of Viking Therapeutics in the second quarter valued at about $32,000. Ballast Advisors LLC purchased a new position in Viking Therapeutics in the first quarter valued at $33,000. Root Financial Partners LLC purchased a new position in shares of Viking Therapeutics in the 3rd quarter valued at $34,000. Allworth Financial LP purchased a new position in shares of Viking Therapeutics during the second quarter worth approximately $53,000. Finally, Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Viking Therapeutics during the second quarter worth approximately $56,000. Hedge funds and other institutional investors own 76.03% of the company’s stock.
About Viking Therapeutics
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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