Brokerages Set Viking Therapeutics Inc (VKTX) Price Target at $22.54

Shares of Viking Therapeutics Inc (NASDAQ:VKTX) have been given a consensus recommendation of “Buy” by the twelve analysts that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, nine have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $22.54.

Several brokerages have recently issued reports on VKTX. BidaskClub raised shares of Viking Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Wednesday, April 3rd. HC Wainwright reissued a “buy” rating and set a $31.00 price target on shares of Viking Therapeutics in a research report on Thursday, April 11th. Raymond James reduced their price target on shares of 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. Leerink Swann raised shares of Viking Therapeutics from a “market perform” rating to an “outperform” rating and set a $8.86 price target on the stock in a research report on Friday, March 29th. Finally, Svb Leerink raised shares of Viking Therapeutics from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $10.00 to $21.00 in a research report on Friday, March 29th.

NASDAQ VKTX opened at $8.82 on Tuesday. Viking Therapeutics has a 12 month low of $3.69 and a 12 month high of $24.00. The stock has a market capitalization 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 (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.10) by $0.03. Equities research analysts forecast that Viking Therapeutics will post -0.45 EPS for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in VKTX. BlackRock Inc. increased its stake in Viking Therapeutics by 14.0% in the third quarter. BlackRock Inc. now owns 3,349,901 shares of the biotechnology company’s stock valued at $58,355,000 after purchasing an additional 411,256 shares during the last quarter. Hikari Power Ltd purchased a new position in Viking Therapeutics in the fourth quarter valued at approximately $306,000. Vanguard Group Inc. increased its stake in Viking Therapeutics by 21.4% in the third quarter. Vanguard Group Inc. now owns 2,877,287 shares of the biotechnology company’s stock valued at $50,123,000 after purchasing an additional 508,097 shares during the last quarter. Man Group plc purchased a new position in Viking Therapeutics in the third quarter valued at approximately $211,000. Finally, Nisa Investment Advisors LLC purchased a new position in Viking Therapeutics in the fourth quarter valued at approximately $60,000. Hedge funds and other institutional investors own 65.35% 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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Analyst Recommendations for Viking Therapeutics (NASDAQ:VKTX)

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