Viking Therapeutics (NASDAQ:VKTX) Coverage Initiated at Scotiabank

Scotiabank began coverage on shares of Viking Therapeutics (NASDAQ:VKTX - Free Report) in a report issued on Thursday morning, Marketbeat Ratings reports. The brokerage issued a sector outperform rating and a $102.00 price target on the biotechnology company's stock.

A number of other equities research analysts have also issued reports on the stock. Maxim Group decreased their target price on shares of Viking Therapeutics from $120.00 to $70.00 and set a "buy" rating for the company in a research note on Friday, February 7th. Raymond James lifted their price objective on shares of Viking Therapeutics from $122.00 to $125.00 and gave the company a "strong-buy" rating in a research note on Thursday, February 6th. B. Riley reaffirmed a "buy" rating and issued a $96.00 price objective (down previously from $109.00) on shares of Viking Therapeutics in a research note on Friday, February 7th. William Blair reiterated an "outperform" rating on shares of Viking Therapeutics in a report on Wednesday, November 20th. Finally, HC Wainwright reiterated a "buy" rating and issued a $102.00 target price on shares of Viking Therapeutics in a report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Viking Therapeutics currently has a consensus rating of "Moderate Buy" and an average target price of $97.29.

Viking Therapeutics Stock Performance

Shares of VKTX traded up $0.98 during mid-day trading on Thursday, reaching $30.48. 3,279,795 shares of the company's stock traded hands, compared to its average volume of 4,270,754. Viking Therapeutics has a 12 month low of $28.64 and a 12 month high of $99.41. The stock has a market capitalization of $3.40 billion, a P/E ratio of -30.48 and a beta of 0.90. The business's 50-day moving average price is $37.57 and its 200-day moving average price is $52.65.

Viking Therapeutics (NASDAQ:VKTX - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The biotechnology company reported ($0.32) EPS for the quarter, missing analysts' consensus estimates of ($0.27) by ($0.05). During the same quarter last year, the business posted ($0.25) EPS. Equities research analysts anticipate that Viking Therapeutics will post -1.41 EPS for the current year.

Insider Buying and Selling at Viking Therapeutics

In other Viking Therapeutics news, CFO Greg Zante sold 50,309 shares of the firm's stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $42.75, for a total value of $2,150,709.75. Following the transaction, the chief financial officer now directly owns 165,259 shares of the company's stock, valued at approximately $7,064,822.25. This trade represents a 23.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Marianna Mancini sold 54,215 shares of the firm's stock in a transaction that occurred on 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 completion of the transaction, the chief operating officer now directly owns 374,134 shares in the company, valued at approximately $15,994,228.50. The trade was a 12.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 299,014 shares of company stock worth $12,782,849 over the last ninety days. Corporate insiders own 4.70% of the company's stock.

Hedge Funds Weigh In On Viking Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the business. Blue Trust Inc. acquired a new stake in Viking Therapeutics in the 3rd quarter valued at $26,000. GAMMA Investing LLC grew its position in shares of Viking Therapeutics by 124.6% in the 3rd quarter. GAMMA Investing LLC now owns 438 shares of the biotechnology company's stock valued at $28,000 after acquiring an additional 243 shares during the period. Gilliland Jeter Wealth Management LLC bought a new position in shares of Viking Therapeutics in the 3rd quarter valued at about $32,000. Stone House Investment Management LLC grew its position in shares of Viking Therapeutics by 66.7% in the 3rd quarter. Stone House Investment Management LLC now owns 500 shares of the biotechnology company's stock valued at $32,000 after acquiring an additional 200 shares during the period. Finally, YANKCOM Partnership bought a new position in shares of Viking Therapeutics in the 4th quarter valued at about $33,000. 76.03% of the stock is owned by 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. 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.