HC Wainwright reaffirmed their buy rating on shares of Viking Therapeutics (NASDAQ:VKTX) in a research note released on Thursday, April 11th, AnalystRatings.com reports. HC Wainwright currently has a $31.00 price target on the biotechnology company’s stock.
“Valuation and risks to price target achievement. We reiterate our Buy rating and $31 price target. Our peak sales estimates for VK2806 and VK5211 are based on our U.S. projections, and believe overall that peak sales could be conservative because of the size of the addressable markets, the continuing unmet medical need, and no projections for ex-U.S. sales currently. Our price target is based on our clinical net present value (NPV) model, which allows us to flex multiple assumptions affecting a drug’s potential commercial profile.”,” HC Wainwright’s analyst commented.
VKTX has been the topic of a number of other research reports. Maxim Group dropped their target price on Viking Therapeutics from $28.00 to $20.00 and set a buy rating on the stock in a research report on Thursday, March 14th. Leerink Swann assumed coverage on Viking Therapeutics in a research report on Friday, February 22nd. They issued a market perform rating and a $10.00 target price on the stock. Svb Leerink assumed coverage on Viking Therapeutics in a research report on Friday, February 22nd. They issued a mkt perform rating on the stock. Raymond James dropped their target price on Viking Therapeutics from $43.00 to $40.00 and set a strong-buy rating on the stock in a research report on Thursday, March 14th. Finally, William Blair reissued an outperform rating on shares of Viking Therapeutics in a research report on Thursday, March 14th. One research analyst has rated the stock with a sell rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus price target of $22.54.
Viking Therapeutics (NASDAQ:VKTX) last released its quarterly earnings results on Thursday, May 2nd. The biotechnology company reported ($0.07) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.09) by $0.02. Research analysts forecast that Viking Therapeutics will post -0.45 EPS for the current year.
A number of hedge funds have recently bought and sold shares of VKTX. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Viking Therapeutics during the 4th quarter worth approximately $30,000. Lindbrook Capital LLC bought a new position in shares of Viking Therapeutics during the 4th quarter worth approximately $36,000. Quantbot Technologies LP bought a new position in shares of Viking Therapeutics during the 3rd quarter worth approximately $109,000. Great West Life Assurance Co. Can bought a new position in shares of Viking Therapeutics during the 4th quarter worth approximately $53,000. Finally, Meeder Asset Management Inc. boosted its stake in shares of Viking Therapeutics by 63.5% during the 4th quarter. Meeder Asset Management Inc. now owns 7,309 shares of the biotechnology company’s stock worth $56,000 after acquiring an additional 2,839 shares during the period. Hedge funds and other institutional investors own 65.13% 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. 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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