Viking Therapeutics (NASDAQ:VKTX) Given New $70.00 Price Target at Maxim Group

Viking Therapeutics (NASDAQ:VKTX - Free Report) had its target price trimmed by Maxim Group from $120.00 to $70.00 in a research note issued to investors on Friday morning,Benzinga reports. The brokerage currently has a buy rating on the biotechnology company's stock.

Several other research analysts have also recently commented on VKTX. HC Wainwright restated a "buy" rating and set a $102.00 target price on shares of Viking Therapeutics in a report on Thursday. B. Riley restated a "buy" rating and issued a $96.00 price objective (down previously from $109.00) on shares of Viking Therapeutics in a report on Friday. StockNews.com upgraded Viking Therapeutics to a "sell" rating in a report on Tuesday, October 15th. Citigroup started coverage on Viking Therapeutics in a research note on Friday. They issued a "neutral" rating and a $38.00 price target for the company. Finally, William Blair reiterated an "outperform" rating on shares of Viking Therapeutics in a research note on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $96.92.

Viking Therapeutics Trading Down 7.3 %

Shares of Viking Therapeutics stock traded down $2.39 during trading on Friday, reaching $30.17. The stock had a trading volume of 5,403,704 shares, compared to its average volume of 4,074,115. The company has a market capitalization of $3.36 billion, a price-to-earnings ratio of -30.17 and a beta of 0.90. The stock has a fifty day moving average price of $39.63 and a two-hundred day moving average price of $53.68. Viking Therapeutics has a 52 week low of $29.82 and a 52 week high of $99.41.

Viking Therapeutics (NASDAQ:VKTX - Get Free Report) last released its earnings results on Wednesday, February 5th. The biotechnology company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.27) by ($0.05). During the same quarter in the previous year, the company posted ($0.25) earnings per share. On average, equities analysts forecast that Viking Therapeutics will post -1.41 EPS for the current fiscal year.

Insider Buying and Selling

In related news, COO Marianna Mancini sold 54,215 shares of the firm's stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $42.75, for a total transaction of $2,317,691.25. Following the transaction, the chief operating officer now directly owns 374,134 shares of the company's stock, valued at approximately $15,994,228.50. This trade represents a 12.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Brian Lian sold 194,490 shares of the business's stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $42.75, for a total transaction of $8,314,447.50. Following the completion of the sale, the chief executive officer now directly owns 2,366,570 shares of the company's stock, valued at $101,170,867.50. This represents a 7.59 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 299,014 shares of company stock valued at $12,782,849. Company insiders own 4.70% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Blue Trust Inc. acquired a new stake in Viking Therapeutics during the third quarter worth approximately $26,000. GAMMA Investing LLC increased its position in shares of Viking Therapeutics by 124.6% in the third quarter. GAMMA Investing LLC now owns 438 shares of the biotechnology company's stock worth $28,000 after purchasing an additional 243 shares during the period. Stone House Investment Management LLC raised its stake in Viking Therapeutics by 66.7% in the third quarter. Stone House Investment Management LLC now owns 500 shares of the biotechnology company's stock valued at $32,000 after purchasing an additional 200 shares in the last quarter. Gilliland Jeter Wealth Management LLC bought a new stake in Viking Therapeutics during the third quarter worth about $32,000. Finally, CNB Bank bought a new stake in Viking Therapeutics during the third quarter worth about $49,000. 76.03% of the stock is owned by institutional investors.

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.