Viking Therapeutics (NASDAQ:VKTX) Now Covered by Analysts at The Goldman Sachs Group

The Goldman Sachs Group started coverage on shares of Viking Therapeutics (NASDAQ:VKTX - Free Report) in a research report released on Tuesday morning, Marketbeat reports. The brokerage issued a neutral rating and a $30.00 target price on the biotechnology company's stock.

A number of other brokerages have also recently issued reports on VKTX. Raymond James boosted their target price on shares of Viking Therapeutics from $122.00 to $125.00 and gave the company a "strong-buy" rating in a research report on Thursday, February 6th. Scotiabank started coverage on Viking Therapeutics in a report on Thursday, February 13th. They issued a "sector outperform" rating and a $102.00 price objective for the company. B. Riley reissued a "buy" rating and set a $96.00 target price (down from $109.00) on shares of Viking Therapeutics in a report on Friday, February 7th. Citigroup initiated coverage on Viking Therapeutics in a research note on Friday, February 7th. They issued a "neutral" rating and a $38.00 price target for the company. Finally, Maxim Group reduced their price objective on shares of Viking Therapeutics from $120.00 to $70.00 and set a "buy" rating on the stock in a research note on Friday, February 7th. One research analyst has rated the stock with a sell rating, two have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Viking Therapeutics has an average rating of "Moderate Buy" and an average price target of $89.75.

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Viking Therapeutics Stock Up 3.3 %

Shares of NASDAQ VKTX traded up $0.70 during mid-day trading on Tuesday, reaching $22.22. 2,962,262 shares of the company were exchanged, compared to its average volume of 3,982,300. The stock has a market capitalization of $2.49 billion, a P/E ratio of -22.22 and a beta of 0.84. The company's 50-day simple moving average is $27.71 and its 200-day simple moving average is $43.20. Viking Therapeutics has a twelve month low of $18.92 and a twelve month high of $81.86.

Viking Therapeutics (NASDAQ:VKTX - Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The biotechnology company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.27) by ($0.05). During the same period in the prior year, the company posted ($0.25) earnings per share. As a group, equities research analysts expect that Viking Therapeutics will post -1.56 EPS for the current year.

Insiders Place Their Bets

In related news, Director Sarah Kathryn Rouan acquired 1,240 shares of the company's stock in a transaction dated Monday, March 31st. The shares were purchased at an average price of $24.15 per share, for a total transaction of $29,946.00. Following the completion of the acquisition, the director now owns 1,240 shares of the company's stock, valued at approximately $29,946. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 4.70% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in VKTX. The Manufacturers Life Insurance Company lifted its holdings in shares of Viking Therapeutics by 20.3% in the third quarter. The Manufacturers Life Insurance Company now owns 24,630 shares of the biotechnology company's stock valued at $1,559,000 after purchasing an additional 4,156 shares in the last quarter. Verition Fund Management LLC grew its stake in shares of Viking Therapeutics by 80.6% in the 3rd quarter. Verition Fund Management LLC now owns 7,721 shares of the biotechnology company's stock worth $489,000 after acquiring an additional 3,446 shares in the last quarter. Integrated Wealth Concepts LLC bought a new position in shares of Viking Therapeutics during the third quarter valued at about $308,000. Stifel Financial Corp boosted its holdings in Viking Therapeutics by 92.1% during the third quarter. Stifel Financial Corp now owns 131,348 shares of the biotechnology company's stock worth $8,316,000 after purchasing an additional 62,956 shares during the last quarter. Finally, National Bank of Canada FI lifted its position in shares of Viking Therapeutics by 2,265.3% during the 3rd quarter. National Bank of Canada FI now owns 3,548 shares of the biotechnology company's stock worth $225,000 after buying an additional 3,398 shares in the last quarter. Institutional investors own 76.03% of the company's stock.

About Viking Therapeutics

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.