BNP Paribas Financial Markets Raises Stock Position in Viking Therapeutics, Inc. $VKTX

BNP Paribas Financial Markets lifted its position in Viking Therapeutics, Inc. (NASDAQ:VKTX) by 536.3% in the 4th quarter, Holdings Channel.com reports. The fund owned 992,695 shares of the biotechnology company’s stock after acquiring an additional 836,686 shares during the period. BNP Paribas Financial Markets’ holdings in Viking Therapeutics were worth $34,923,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Raleigh Capital Management Inc. lifted its holdings in shares of Viking Therapeutics by 58.0% in the 4th quarter. Raleigh Capital Management Inc. now owns 945 shares of the biotechnology company’s stock worth $33,000 after acquiring an additional 347 shares during the last quarter. Fifth Third Bancorp lifted its holdings in shares of Viking Therapeutics by 169.3% in the 4th quarter. Fifth Third Bancorp now owns 1,077 shares of the biotechnology company’s stock worth $38,000 after acquiring an additional 677 shares during the last quarter. Lodestone Wealth Management LLC bought a new stake in shares of Viking Therapeutics in the 4th quarter worth about $39,000. GAMMA Investing LLC lifted its holdings in shares of Viking Therapeutics by 71.0% in the 4th quarter. GAMMA Investing LLC now owns 1,195 shares of the biotechnology company’s stock worth $42,000 after acquiring an additional 496 shares during the last quarter. Finally, TD Waterhouse Canada Inc. lifted its holdings in shares of Viking Therapeutics by 250.0% in the 4th quarter. TD Waterhouse Canada Inc. now owns 1,400 shares of the biotechnology company’s stock worth $49,000 after acquiring an additional 1,000 shares during the last quarter. Institutional investors own 76.03% of the company’s stock.

Insiders Place Their Bets

In related news, insider Neil William Aubuchon acquired 4,475 shares of the firm’s stock in a transaction that occurred on Tuesday, March 10th. The stock was bought at an average price of $33.50 per share, for a total transaction of $149,912.50. Following the acquisition, the insider directly owned 4,475 shares of the company’s stock, valued at $149,912.50. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 5.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

VKTX has been the subject of several analyst reports. Wolfe Research initiated coverage on shares of Viking Therapeutics in a report on Thursday, March 26th. They issued a “peer perform” rating for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Viking Therapeutics in a report on Monday, April 20th. Morgan Stanley set a $95.00 target price on shares of Viking Therapeutics in a report on Thursday, April 30th. BTIG Research restated a “buy” rating and issued a $125.00 target price on shares of Viking Therapeutics in a report on Friday, May 1st. Finally, Lake Street Capital started coverage on shares of Viking Therapeutics in a report on Thursday, May 28th. They issued a “buy” rating and a $89.00 target price for the company. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Viking Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $93.60.

Viking Therapeutics Price Performance

Shares of VKTX opened at $29.33 on Thursday. Viking Therapeutics, Inc. has a 1-year low of $22.96 and a 1-year high of $43.15. The company has a 50-day moving average of $32.42 and a 200 day moving average of $33.23. The firm has a market capitalization of $3.41 billion, a price-to-earnings ratio of -7.08 and a beta of 0.69.

Viking Therapeutics (NASDAQ:VKTX) last announced its quarterly earnings data on Thursday, April 30th. The biotechnology company reported ($1.37) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.01) by ($0.36). During the same quarter in the prior year, the company posted ($0.41) EPS. On average, equities analysts anticipate that Viking Therapeutics, Inc. will post -4.7 earnings per share for the current fiscal year.

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.