Viking Therapeutics (NASDAQ:VKTX) Given Buy Rating at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Viking Therapeutics (NASDAQ:VKTX) in a research report sent to investors on Friday morning, AnalystRatings.com reports. The firm currently has a $31.00 target price 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 wrote.

Several other research firms also recently weighed in on VKTX. Citigroup started coverage on Viking Therapeutics in a research note on Monday, July 15th. They issued an outperform rating on the stock. Oppenheimer started coverage on Viking Therapeutics in a research note on Tuesday, July 16th. They issued an outperform rating and a $12.00 price target on the stock. Stifel Nicolaus started coverage on Viking Therapeutics in a research note on Tuesday, June 25th. They issued a buy rating and a $14.00 price target on the stock. ValuEngine upgraded Viking Therapeutics from a hold rating to a buy rating in a research note on Thursday. Finally, CIBC started coverage on Viking Therapeutics in a research note on Tuesday, July 16th. They issued an outperform rating and a $12.00 price target on the stock. One investment analyst has rated the stock with a sell rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of Buy and an average target price of $20.53.

Shares of VKTX stock traded down $0.33 during midday trading on Friday, reaching $7.24. 1,749,546 shares of the stock were exchanged, compared to its average volume of 1,166,920. Viking Therapeutics has a 1 year low of $6.97 and a 1 year high of $24.00. The company has a 50 day simple moving average of $8.10. The firm has a market cap of $554.05 million, a price-to-earnings ratio of -18.10 and a beta of 2.29.

Viking Therapeutics (NASDAQ:VKTX) last posted its earnings results on Thursday, August 1st. The biotechnology company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.02). Analysts predict that Viking Therapeutics will post -0.44 earnings per share for the current year.

Hedge funds have recently added to or reduced their stakes in the stock. Great West Life Assurance Co. Can bought a new position in Viking Therapeutics in the 4th quarter valued at approximately $53,000. Legal & General Group Plc lifted its position in Viking Therapeutics by 38.0% in the 4th quarter. Legal & General Group Plc now owns 10,704 shares of the biotechnology company’s stock valued at $82,000 after acquiring an additional 2,945 shares in the last quarter. United Services Automobile Association bought a new position in Viking Therapeutics in the 4th quarter valued at approximately $83,000. Barclays PLC lifted its position in Viking Therapeutics by 114.7% in the 4th quarter. Barclays PLC now owns 11,647 shares of the biotechnology company’s stock valued at $89,000 after acquiring an additional 91,118 shares in the last quarter. Finally, Wedbush Securities Inc. bought a new position in Viking Therapeutics in the 2nd quarter valued at approximately $97,000. 63.77% of the stock is currently owned by institutional investors and hedge funds.

Viking Therapeutics Company Profile

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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