Viking Therapeutics (NASDAQ:VKTX) Given a $28.00 Price Target by HC Wainwright Analysts

Viking Therapeutics (NASDAQ:VKTX) has been given a $28.00 target price by stock analysts at HC Wainwright in a research note issued to investors on Tuesday, September 18th, Marketbeat.com reports. The brokerage presently has a “buy” rating on the biotechnology company’s stock. HC Wainwright’s price objective suggests a potential upside of 93.64% from the company’s previous close.

A number of other research analysts have also recently commented on VKTX. ValuEngine upgraded Viking Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, May 23rd. Maxim Group reiterated a “buy” rating and issued a $14.00 price target (up from $8.00) on shares of Viking Therapeutics in a research note on Thursday, May 31st. Laidlaw increased their price target on Viking Therapeutics from $10.00 to $15.00 and gave the company a “buy” rating in a research note on Friday, June 1st. Roth Capital raised their target price on Viking Therapeutics from $7.50 to $13.00 and gave the stock a “buy” rating in a research report on Friday, June 1st. Finally, Raymond James assumed coverage on Viking Therapeutics in a research report on Thursday, June 28th. They set an “outperform” rating and a $15.00 target price for the company. One research analyst has rated the stock with a sell rating, one has issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Viking Therapeutics currently has an average rating of “Buy” and an average price target of $28.17.

Shares of VKTX stock traded up $0.59 during trading hours on Tuesday, reaching $14.46. The company’s stock had a trading volume of 3,679,927 shares, compared to its average volume of 2,872,746. The company has a market cap of $1.06 billion, a PE ratio of -18.30 and a beta of 2.81. Viking Therapeutics has a fifty-two week low of $2.00 and a fifty-two week high of $24.00.

Viking Therapeutics (NASDAQ:VKTX) last issued its earnings results on Thursday, August 9th. The biotechnology company reported ($0.13) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.11) by ($0.02). Analysts expect that Viking Therapeutics will post -0.44 EPS for the current fiscal year.

In other news, major shareholder Ligand Pharmaceuticals Inc sold 262,881 shares of Viking Therapeutics stock in a transaction dated Tuesday, September 25th. The stock was sold at an average price of $19.15, for a total value of $5,034,171.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 3.90% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. Northern Trust Corp raised its position in shares of Viking Therapeutics by 524.2% in the 2nd quarter. Northern Trust Corp now owns 492,845 shares of the biotechnology company’s stock worth $4,678,000 after acquiring an additional 413,892 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Viking Therapeutics by 1,267.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 346,029 shares of the biotechnology company’s stock valued at $3,284,000 after buying an additional 320,731 shares during the period. MetLife Investment Advisors LLC acquired a new stake in shares of Viking Therapeutics in the 2nd quarter valued at about $206,000. Metropolitan Life Insurance Co. NY acquired a new stake in shares of Viking Therapeutics in the 2nd quarter valued at about $145,000. Finally, Acuta Capital Partners LLC acquired a new stake in shares of Viking Therapeutics in the 2nd quarter valued at about $7,118,000. 53.22% of the stock is owned by hedge funds and other institutional investors.

About Viking Therapeutics

Viking Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on the development of novel therapies for metabolic and endocrine disorders. Its lead clinical program, VK5211, is an orally available, non-steroidal selective androgen receptor modulator in Phase II development for the treatment of patients recovering from non-elective hip fracture surgery; in Phase I clinical trials for improving lean body mass; and in pre-clinical trial for improving bone mineral density, bone mineral content, bone strength, and other measures.

Featured Article: Momentum Indicator: Relative Strength Index

Analyst Recommendations for Viking Therapeutics (NASDAQ:VKTX)

Receive News & Ratings for Viking Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Viking Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply