Viking Therapeutics (NASDAQ:VKTX) Upgraded at Svb Leerink

Viking Therapeutics (NASDAQ:VKTX) was upgraded by equities researchers at Svb Leerink from a “market perform” rating to an “outperform” rating in a research note issued to investors on Friday, March 29th, MarketBeat Ratings reports. The firm presently has a $21.00 price objective on the biotechnology company’s stock, up from their previous price objective of $10.00. Svb Leerink’s price objective indicates a potential upside of 138.10% from the company’s current price.

VKTX has been the subject of several other research reports. B. Riley assumed coverage on shares of Viking Therapeutics in a research note on Tuesday, December 11th. They issued a “buy” rating and a $16.00 target price for the company. Maxim Group reduced their target price on shares of Viking Therapeutics from $28.00 to $20.00 and set a “buy” rating for the company in a research note on Thursday, March 14th. Leerink Swann assumed coverage on shares of Viking Therapeutics in a research note on Friday, February 22nd. They issued a “market perform” rating and a $10.00 target price for the company. Raymond James reduced their target price on shares of Viking Therapeutics from $43.00 to $40.00 and set a “strong-buy” rating for the company in a research note on Thursday, March 14th. Finally, William Blair reiterated an “outperform” rating on shares of Viking Therapeutics in a report on Thursday, March 14th. One analyst has rated the stock with a sell rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $22.54.

Shares of Viking Therapeutics stock traded up $0.23 during trading hours on Friday, hitting $8.82. The company had a trading volume of 2,801,634 shares, compared to its average volume of 4,643,337. Viking Therapeutics has a twelve month low of $3.69 and a twelve month high of $24.00. The stock has a market cap of $635.29 million, a price-to-earnings ratio of -22.05 and a beta of 2.75.

Viking Therapeutics (NASDAQ:VKTX) last issued its quarterly earnings results on Wednesday, March 13th. The biotechnology company reported ($0.07) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.10) by $0.03. Analysts expect that Viking Therapeutics will post -0.45 earnings per share for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in VKTX. Virtu Financial LLC increased its holdings in shares of Viking Therapeutics by 844.3% in the 1st quarter. Virtu Financial LLC now owns 163,782 shares of the biotechnology company’s stock valued at $1,628,000 after purchasing an additional 146,438 shares during the period. Woodstock Corp acquired a new position in shares of Viking Therapeutics in the 1st quarter valued at about $544,000. Geode Capital Management LLC increased its holdings in shares of Viking Therapeutics by 30.6% in the 4th quarter. Geode Capital Management LLC now owns 594,510 shares of the biotechnology company’s stock valued at $4,548,000 after purchasing an additional 139,420 shares during the period. Dimensional Fund Advisors LP acquired a new position in shares of Viking Therapeutics in the 4th quarter valued at about $1,478,000. Finally, UBS Oconnor LLC increased its holdings in shares of Viking Therapeutics by 8.3% in the 4th quarter. UBS Oconnor LLC now owns 102,842 shares of the biotechnology company’s stock valued at $787,000 after purchasing an additional 7,842 shares during the period. 65.35% of the stock is currently owned by institutional investors and hedge funds.

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 drug candidate is VK2809, an orally available tissue and receptor-subtype selective agonist of the thyroid hormone receptor beta, which is in Phase II clinical trials to treat patients with non-alcoholic fatty liver disease and elevated low-density lipoprotein cholesterol.

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Analyst Recommendations for Viking Therapeutics (NASDAQ:VKTX)

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