HC Wainwright Reiterates Buy Rating for Viking Therapeutics (NASDAQ:VKTX)

HC Wainwright reaffirmed their buy rating on shares of Viking Therapeutics (NASDAQ:VKTX) in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a $102.00 price target on the biotechnology company’s stock.

Several other equities research analysts also recently commented on the stock. The Goldman Sachs Group started coverage on shares of Viking Therapeutics in a report on Tuesday, April 8th. They set a “neutral” rating and a $30.00 price objective on the stock. Truist Financial reiterated a “buy” rating and set a $75.00 price target (down from $95.00) on shares of Viking Therapeutics in a research report on Monday, April 28th. Morgan Stanley decreased their price target on Viking Therapeutics from $105.00 to $102.00 and set an “overweight” rating on the stock in a research report on Thursday, April 24th. Finally, Cantor Fitzgerald upgraded shares of Viking Therapeutics to a “strong-buy” rating in a research report on Tuesday, April 29th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $87.15.

Viking Therapeutics Stock Up 0.5%

VKTX stock opened at $27.09 on Wednesday. The firm has a market capitalization of $3.04 billion, a PE ratio of -23.56 and a beta of 0.65. The stock’s 50 day moving average is $27.05 and its 200-day moving average is $30.76. Viking Therapeutics has a twelve month low of $18.92 and a twelve month high of $81.73.

Viking Therapeutics (NASDAQ:VKTX) last posted its quarterly earnings data on Wednesday, April 23rd. The biotechnology company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.10). Viking Therapeutics’s quarterly revenue was up .0% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.26) EPS. On average, equities research analysts anticipate that Viking Therapeutics will post -1.56 earnings per share for the current fiscal year.

Insider Activity

In other Viking Therapeutics news, Director Sarah Kathryn Rouan purchased 1,240 shares of the company’s stock in a transaction that occurred on Monday, March 31st. The stock was bought at an average price of $24.15 per share, with a total value of $29,946.00. Following the completion of the purchase, the director now directly owns 1,240 shares of the company’s stock, valued at $29,946. The trade was a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 4.10% of the company’s stock.

Hedge Funds Weigh In On Viking Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. FMR LLC boosted its holdings in shares of Viking Therapeutics by 0.6% during the 4th quarter. FMR LLC now owns 16,715,438 shares of the biotechnology company’s stock valued at $672,629,000 after buying an additional 96,008 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Viking Therapeutics by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 1,880,713 shares of the biotechnology company’s stock valued at $75,704,000 after buying an additional 17,046 shares in the last quarter. Braidwell LP boosted its stake in Viking Therapeutics by 27.9% in the 4th quarter. Braidwell LP now owns 1,479,666 shares of the biotechnology company’s stock worth $59,542,000 after purchasing an additional 322,689 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in Viking Therapeutics by 228.5% in the 4th quarter. Ameriprise Financial Inc. now owns 1,479,596 shares of the biotechnology company’s stock worth $59,540,000 after purchasing an additional 1,029,125 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in Viking Therapeutics by 446.7% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,357,241 shares of the biotechnology company’s stock worth $54,615,000 after purchasing an additional 1,108,972 shares in the last quarter. Hedge funds and other institutional investors own 76.03% of the company’s stock.

Viking Therapeutics Company Profile

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.