Brokerages Set Viking Therapeutics, Inc. (NASDAQ:VKTX) PT at $16.00

Viking Therapeutics, Inc. (NASDAQ:VKTX) has been assigned a consensus rating of “Buy” from the six brokerages that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $16.00.

VKTX has been the topic of a number of recent research reports. SVB Leerink initiated coverage on shares of Viking Therapeutics in a research report on Sunday, June 20th. They set a “buy” rating and a $18.00 price target on the stock. Zacks Investment Research upgraded shares of Viking Therapeutics from a “sell” rating to a “hold” rating in a research report on Friday, July 9th. HC Wainwright restated a “buy” rating and set a $21.00 price target on shares of Viking Therapeutics in a research report on Thursday, June 17th. Raymond James boosted their price target on shares of Viking Therapeutics from $12.00 to $13.00 and gave the stock an “outperform” rating in a research report on Thursday, July 29th. Finally, B. Riley reaffirmed a “buy” rating and set a $15.00 target price on shares of Viking Therapeutics in a research note on Friday, June 18th.

Shares of NASDAQ VKTX traded down $0.28 during trading on Tuesday, hitting $6.36. The company had a trading volume of 606,045 shares, compared to its average volume of 1,058,208. The firm has a market capitalization of $497.29 million, a price-to-earnings ratio of -9.49 and a beta of 1.83. Viking Therapeutics has a fifty-two week low of $4.95 and a fifty-two week high of $10.09. The stock has a fifty day simple moving average of $6.11 and a two-hundred day simple moving average of $6.09.

Viking Therapeutics (NASDAQ:VKTX) last posted its quarterly earnings results on Wednesday, July 28th. The biotechnology company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.01). Sell-side analysts predict that Viking Therapeutics will post -0.81 EPS for the current year.

A number of hedge funds have recently modified their holdings of the business. Parametric Portfolio Associates LLC raised its stake in Viking Therapeutics by 17.2% during the second quarter. Parametric Portfolio Associates LLC now owns 304,302 shares of the biotechnology company’s stock worth $1,823,000 after purchasing an additional 44,730 shares during the period. Morgan Stanley raised its stake in shares of Viking Therapeutics by 268.8% in the 2nd quarter. Morgan Stanley now owns 448,591 shares of the biotechnology company’s stock valued at $2,687,000 after acquiring an additional 326,954 shares during the period. Amussen Hunsaker Associates LLC purchased a new stake in shares of Viking Therapeutics in the 2nd quarter valued at approximately $145,000. Metropolitan Life Insurance Co NY raised its stake in shares of Viking Therapeutics by 47,695.0% in the 2nd quarter. Metropolitan Life Insurance Co NY now owns 9,559 shares of the biotechnology company’s stock valued at $57,000 after acquiring an additional 9,539 shares during the period. Finally, Millennium Management LLC purchased a new stake in shares of Viking Therapeutics in the 2nd quarter valued at approximately $286,000. 48.68% of the stock is currently owned by institutional investors.

Viking Therapeutics Company Profile

Viking Therapeutics, Inc is a clinical-stage biopharmaceutical company, which engages in the development of novel therapies for patients suffering from metabolic and endocrine disorders. The firm’s clinical program VK5211, treats patients recovering from non-elective hip fracture surgery. It also specializes in development of VK2809 and VK0214.

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Analyst Recommendations for Viking Therapeutics (NASDAQ:VKTX)

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