Viking Therapeutics (NASDAQ:VKTX) Given New $118.00 Price Target at Canaccord Genuity Group

Viking Therapeutics (NASDAQ:VKTX) had its price objective lifted by Canaccord Genuity Group from $106.00 to $118.00 in a research report report published on Friday morning,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the biotechnology company’s stock.

A number of other research analysts have also issued reports on VKTX. Wall Street Zen lowered Viking Therapeutics from a “sell” rating to a “strong sell” rating in a report on Sunday, October 4th. Morgan Stanley restated an “overweight” rating on shares of Viking Therapeutics in a research report on Tuesday, September 22nd. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $34.00 price objective on shares of Viking Therapeutics in a report on Thursday. Zacks Research upgraded Viking Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 18th. Finally, HC Wainwright reissued a “buy” rating on shares of Viking Therapeutics in a research note on Tuesday, September 22nd. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $93.36.

Viking Therapeutics Stock Performance

Shares of VKTX stock opened at $27.28 on Friday. The business has a fifty day moving average of $30.51 and a 200 day moving average of $32.42. The firm has a market capitalization of $3.44 billion, a price-to-earnings ratio of -5.05 and a beta of 0.66. The company has a debt-to-equity ratio of 0.43, a current ratio of 7.27 and a quick ratio of 7.27. Viking Therapeutics has a 1 year low of $23.82 and a 1 year high of $43.15.

Viking Therapeutics (NASDAQ:VKTX) last posted its quarterly earnings data on Wednesday, October 28th. The biotechnology company reported ($1.55) EPS for the quarter, missing analysts’ consensus estimates of ($1.06) by ($0.49). During the same quarter last year, the firm posted ($0.81) earnings per share. As a group, research analysts expect 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. Profund Advisors LLC grew its stake in Viking Therapeutics by 4.2% in the 3rd quarter. Profund Advisors LLC now owns 50,459 shares of the biotechnology company’s stock worth $1,645,000 after acquiring an additional 2,052 shares during the period. Raleigh Capital Management Inc. lifted its stake in shares of Viking Therapeutics by 371.4% during the 3rd quarter. Raleigh Capital Management Inc. now owns 2,305 shares of the biotechnology company’s stock worth $75,000 after purchasing an additional 1,816 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Viking Therapeutics during the 3rd quarter worth $496,000. Choreo LLC boosted its holdings in shares of Viking Therapeutics by 6.9% during the third quarter. Choreo LLC now owns 6,660 shares of the biotechnology company’s stock worth $217,000 after purchasing an additional 429 shares during the last quarter. Finally, North Star Investment Management Corp. boosted its holdings in shares of Viking Therapeutics by 42.5% during the third quarter. North Star Investment Management Corp. now owns 4,358 shares of the biotechnology company’s stock worth $142,000 after purchasing an additional 1,300 shares during the last quarter. 76.03% of the stock is currently owned by hedge funds and other institutional investors.

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.