Viking Therapeutics (NASDAQ:VKTX) Now Covered by Analysts at Lake Street Capital

Equities research analysts at Lake Street Capital initiated coverage on shares of Viking Therapeutics (NASDAQ:VKTXGet Free Report) in a research note issued on Thursday, Marketbeat Ratings reports. The firm set a “buy” rating and a $89.00 price target on the biotechnology company’s stock. Lake Street Capital’s price target would suggest a potential upside of 181.11% from the stock’s previous close.

Several other equities analysts have also issued reports on VKTX. Weiss Ratings reissued a “sell (d-)” rating on shares of Viking Therapeutics in a report on Monday, April 20th. Truist Financial began coverage on shares of Viking Therapeutics in a report on Wednesday. They issued a “buy” rating and a $83.00 price target for the company. Morgan Stanley set a $95.00 price target on shares of Viking Therapeutics in a report on Thursday, April 30th. Wolfe Research initiated coverage on shares of Viking Therapeutics in a research report on Thursday, March 26th. They issued a “peer perform” rating on the stock. Finally, Cantor Fitzgerald cut their price objective on shares of Viking Therapeutics from $105.00 to $100.00 and set an “overweight” rating on the stock in a research report on Thursday, April 30th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $93.60.

View Our Latest Stock Report on Viking Therapeutics

Viking Therapeutics Stock Up 2.8%

Shares of VKTX stock opened at $31.66 on Thursday. Viking Therapeutics has a 12-month low of $22.96 and a 12-month high of $43.15. The firm has a market capitalization of $3.68 billion, a price-to-earnings ratio of -7.65 and a beta of 0.72. The firm has a fifty day moving average of $32.68 and a 200-day moving average of $33.51.

Viking Therapeutics (NASDAQ:VKTXGet Free Report) last announced its quarterly earnings results on Thursday, April 30th. The biotechnology company reported ($1.37) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.01) by ($0.36). During the same quarter in the prior year, the business earned ($0.41) EPS. Research analysts expect that Viking Therapeutics will post -4.67 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Neil William Aubuchon acquired 4,475 shares of the business’s stock in a transaction that occurred on Tuesday, March 10th. The shares were acquired at an average cost of $33.50 per share, with a total value of $149,912.50. Following the transaction, the insider owned 4,475 shares of the company’s stock, valued at $149,912.50. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 5.30% of the company’s stock.

Institutional Investors Weigh In On Viking Therapeutics

Institutional investors have recently added to or reduced their stakes in the stock. Raleigh Capital Management Inc. lifted its position in Viking Therapeutics by 58.0% in the 4th quarter. Raleigh Capital Management Inc. now owns 945 shares of the biotechnology company’s stock valued at $33,000 after acquiring an additional 347 shares in the last quarter. Quattro Advisors LLC bought a new stake in Viking Therapeutics during the 4th quarter worth about $37,000. Fifth Third Bancorp lifted its position in Viking Therapeutics by 169.3% during the 4th quarter. Fifth Third Bancorp now owns 1,077 shares of the biotechnology company’s stock worth $38,000 after buying an additional 677 shares in the last quarter. Lodestone Wealth Management LLC bought a new stake in Viking Therapeutics during the 4th quarter worth about $39,000. Finally, Golden State Wealth Management LLC bought a new stake in Viking Therapeutics during the 3rd quarter worth about $30,000. 76.03% of the stock is owned by institutional investors.

Viking Therapeutics Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Viking Therapeutics (NASDAQ:VKTX)

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