Viking Therapeutics (NASDAQ:VKTX) Raised to Sell at StockNews.com

Viking Therapeutics (NASDAQ:VKTXGet Free Report) was upgraded by StockNews.com to a “sell” rating in a research note issued to investors on Friday.

Several other brokerages also recently issued reports on VKTX. Oppenheimer upped their price target on shares of Viking Therapeutics from $116.00 to $138.00 and gave the company an “outperform” rating in a report on Tuesday, March 26th. William Blair reaffirmed an “outperform” rating on shares of Viking Therapeutics in a report on Friday, February 23rd. Raymond James raised shares of Viking Therapeutics from an “outperform” rating to a “strong-buy” rating and upped their price target for the company from $115.00 to $116.00 in a report on Thursday, May 16th. HC Wainwright reaffirmed a “buy” rating and issued a $90.00 price target on shares of Viking Therapeutics in a report on Thursday, April 25th. Finally, Maxim Group reaffirmed a “buy” rating and issued a $120.00 price target on shares of Viking Therapeutics in a report on Friday, March 15th. One research analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $112.38.

Check Out Our Latest Report on VKTX

Viking Therapeutics Trading Up 0.8 %

Shares of VKTX opened at $62.26 on Friday. The firm’s 50-day moving average is $71.58 and its two-hundred day moving average is $45.97. Viking Therapeutics has a twelve month low of $8.28 and a twelve month high of $99.41. The firm has a market capitalization of $6.87 billion, a P/E ratio of -66.95 and a beta of 1.12.

Viking Therapeutics (NASDAQ:VKTXGet Free Report) last issued its earnings results on Wednesday, April 24th. The biotechnology company reported ($0.26) earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.01. During the same quarter last year, the business earned ($0.25) EPS. Analysts predict that Viking Therapeutics will post -1.08 EPS for the current year.

Insider Activity at Viking Therapeutics

In related news, CFO Greg Zante sold 66,756 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $74.69, for a total transaction of $4,986,005.64. Following the completion of the transaction, the chief financial officer now owns 174,854 shares of the company’s stock, valued at $13,059,845.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Greg Zante sold 66,756 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $74.69, for a total transaction of $4,986,005.64. Following the completion of the transaction, the chief financial officer now owns 174,854 shares of the company’s stock, valued at $13,059,845.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Marianna Mancini sold 281,425 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $78.66, for a total transaction of $22,136,890.50. Following the transaction, the chief operating officer now directly owns 348,508 shares of the company’s stock, valued at approximately $27,413,639.28. The disclosure for this sale can be found here. Insiders own 4.70% of the company’s stock.

Hedge Funds Weigh In On Viking Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Rafferty Asset Management LLC increased its position in shares of Viking Therapeutics by 63.6% in the third quarter. Rafferty Asset Management LLC now owns 560,180 shares of the biotechnology company’s stock worth $6,201,000 after acquiring an additional 217,827 shares in the last quarter. International Assets Investment Management LLC increased its position in shares of Viking Therapeutics by 1,557.6% in the fourth quarter. International Assets Investment Management LLC now owns 371,604 shares of the biotechnology company’s stock worth $6,916,000 after acquiring an additional 349,186 shares in the last quarter. Raymond James & Associates increased its position in shares of Viking Therapeutics by 100.4% in the fourth quarter. Raymond James & Associates now owns 137,583 shares of the biotechnology company’s stock worth $2,560,000 after acquiring an additional 68,921 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Viking Therapeutics by 3.4% in the third quarter. Vanguard Group Inc. now owns 5,284,352 shares of the biotechnology company’s stock worth $58,498,000 after acquiring an additional 171,995 shares in the last quarter. Finally, Aigen Investment Management LP acquired a new stake in shares of Viking Therapeutics in the third quarter worth $148,000. Institutional investors and hedge funds own 76.03% of the company’s stock.

About Viking Therapeutics

(Get Free Report)

Viking Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on the development of novel therapies for metabolic and endocrine disorders. The company's lead drug candidate is VK2809, an orally available tissue and receptor-subtype selective agonist of the thyroid hormone receptor beta (TRß), which is in Phase IIb clinical trials to treat patients with biopsy-confirmed non-alcoholic steatohepatitis, as well as NAFLD.

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