Viking Therapeutics (NASDAQ:VKTX) Coverage Initiated at Truist Financial

Truist Financial assumed coverage on shares of Viking Therapeutics (NASDAQ:VKTX) in a research note issued to investors on Wednesday. The brokerage set a “buy” rating and a $83.00 price target on the biotechnology company’s stock. Truist Financial’s price objective suggests a potential upside of 159.50% from the company’s previous close.

Other equities analysts have also recently issued reports about the company. Zacks Research raised Viking Therapeutics from a “strong sell” rating to a “hold” rating in a report on Wednesday, February 18th. BTIG Research restated a “buy” rating and issued a $125.00 price target on shares of Viking Therapeutics in a research report on Friday, May 1st. Wolfe Research assumed coverage on Viking Therapeutics in a research note on Thursday, March 26th. They issued a “peer perform” rating on the stock. Morgan Stanley set a $95.00 price objective on Viking Therapeutics in a research report on Thursday, April 30th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Viking Therapeutics in a report on Monday, April 20th. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $94.11.

Viking Therapeutics Trading Up 3.8%

NASDAQ VKTX traded up $1.19 during trading hours on Wednesday, hitting $31.99. 308,181 shares of the company’s stock traded hands, compared to its average volume of 2,687,861. Viking Therapeutics has a 52 week low of $22.96 and a 52 week high of $43.15. The firm has a market capitalization of $3.71 billion, a P/E ratio of -7.73 and a beta of 0.72. The business’s fifty day moving average price is $32.77 and its two-hundred day moving average price is $33.55.

Viking Therapeutics (NASDAQ:VKTX) last released its quarterly 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 period last year, the company posted ($0.41) EPS. On average, sell-side analysts expect that Viking Therapeutics will post -4.67 EPS for the current fiscal year.

Insider Activity at Viking Therapeutics

In other Viking Therapeutics news, insider Neil William Aubuchon acquired 4,475 shares of the stock in a transaction dated Tuesday, March 10th. The shares were acquired at an average cost of $33.50 per share, for a total transaction of $149,912.50. Following the completion of the transaction, the insider directly owned 4,475 shares of the company’s stock, valued at approximately $149,912.50. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 5.30% of the stock is owned by insiders.

Institutional Trading of Viking Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in VKTX. Ameriprise Financial Inc. boosted its stake in Viking Therapeutics by 41.8% in the 3rd quarter. Ameriprise Financial Inc. now owns 2,092,840 shares of the biotechnology company’s stock worth $55,000,000 after purchasing an additional 616,526 shares during the period. Two Sigma Investments LP grew its holdings in Viking Therapeutics by 58.7% during the 3rd quarter. Two Sigma Investments LP now owns 2,085,487 shares of the biotechnology company’s stock valued at $54,807,000 after buying an additional 771,704 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Viking Therapeutics by 24.0% during the fourth quarter. Geode Capital Management LLC now owns 1,994,509 shares of the biotechnology company’s stock valued at $70,183,000 after buying an additional 385,903 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Viking Therapeutics by 536.3% in the fourth quarter. BNP Paribas Financial Markets now owns 992,695 shares of the biotechnology company’s stock worth $34,923,000 after buying an additional 836,686 shares in the last quarter. Finally, Raymond James Financial Inc. lifted its holdings in shares of Viking Therapeutics by 16.1% in the third quarter. Raymond James Financial Inc. now owns 954,272 shares of the biotechnology company’s stock worth $25,078,000 after buying an additional 131,994 shares in the last quarter. Institutional investors own 76.03% of the company’s stock.

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.