Viking Therapeutics (NASDAQ:VKTX) Upgraded by ValuEngine to “Buy”

ValuEngine upgraded shares of Viking Therapeutics (NASDAQ:VKTX) from a hold rating to a buy rating in a report published on Thursday morning, ValuEngine reports.

Several other equities research analysts have also commented on VKTX. Stifel Nicolaus initiated coverage on shares of Viking Therapeutics in a research report on Tuesday, June 25th. They issued a buy rating and a $14.00 price objective on the stock. CIBC initiated coverage on shares of Viking Therapeutics in a research report on Tuesday, July 16th. They issued an outperform rating and a $12.00 price objective on the stock. HC Wainwright reiterated a buy rating and issued a $31.00 price objective on shares of Viking Therapeutics in a research report on Thursday, April 11th. BidaskClub upgraded shares of Viking Therapeutics from a strong sell rating to a sell rating in a research report on Saturday, May 4th. Finally, Citigroup initiated coverage on shares of Viking Therapeutics in a research report on Monday, July 15th. They issued an outperform rating on the stock. One research analyst has rated the stock with a sell rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. Viking Therapeutics currently has an average rating of Buy and an average target price of $20.53.

Shares of Viking Therapeutics stock traded down $0.33 on Thursday, hitting $7.24. The company’s stock had a trading volume of 1,749,546 shares, compared to its average volume of 1,243,415. Viking Therapeutics has a 52-week low of $6.97 and a 52-week high of $24.00. The business has a fifty day moving average of $8.10. The stock has a market cap of $545.40 million, a P/E ratio of -18.10 and a beta of 2.29.

Viking Therapeutics (NASDAQ:VKTX) last released its quarterly earnings data on Thursday, August 1st. The biotechnology company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.02). As a group, equities analysts anticipate that Viking Therapeutics will post -0.44 earnings per share for the current year.

A number of large investors have recently added to or reduced their stakes in VKTX. Great West Life Assurance Co. Can purchased a new position in Viking Therapeutics in the 4th quarter valued at about $53,000. Legal & General Group Plc lifted its holdings 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 purchasing an additional 2,945 shares in the last quarter. United Services Automobile Association purchased a new position in Viking Therapeutics in the 4th quarter valued at about $83,000. Barclays PLC lifted its holdings 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 purchasing an additional 91,118 shares in the last quarter. Finally, Wedbush Securities Inc. purchased a new position in Viking Therapeutics in the 2nd quarter valued at about $97,000. Institutional investors own 63.77% 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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