Viking Therapeutics (NASDAQ:VKTX) Raised to Sell at BidaskClub

Viking Therapeutics (NASDAQ:VKTX) was upgraded by research analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a report issued on Saturday, BidAskClub reports.

A number of other equities analysts have also issued reports on the company. HC Wainwright raised their price target on Viking Therapeutics from $18.00 to $21.00 and gave the stock a “buy” rating in a report on Friday, August 28th. Raymond James restated a “buy” rating and issued a $25.00 price objective on shares of Viking Therapeutics in a research report on Thursday, August 6th. Oppenheimer restated a “buy” rating and issued a $12.00 price objective on shares of Viking Therapeutics in a research report on Wednesday, July 29th. BMO Capital Markets initiated coverage on shares of Viking Therapeutics in a research report on Thursday, June 4th. They issued an “outperform” rating and a $14.00 price objective for the company. Finally, Chardan Capital raised their price objective on shares of Viking Therapeutics from $15.00 to $20.00 and gave the company a “buy” rating in a research report on Monday, August 31st. One equities research analyst has rated the stock with a sell rating and twelve have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $16.33.

NASDAQ VKTX opened at $6.84 on Friday. Viking Therapeutics has a 52-week low of $3.26 and a 52-week high of $8.87. The business’s 50-day moving average price is $7.01 and its 200 day moving average price is $6.47. The firm has a market cap of $497.67 million, a P/E ratio of -15.55 and a beta of 2.00.

Viking Therapeutics (NASDAQ:VKTX) last released its quarterly earnings results on Wednesday, July 29th. The biotechnology company reported ($0.13) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.14) by $0.01. On average, equities analysts forecast that Viking Therapeutics will post -0.61 EPS for the current year.

In other news, major shareholder Ligand Pharmaceuticals Inc sold 164,488 shares of Viking Therapeutics stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $8.07, for a total transaction of $1,327,418.16. Also, Director Matthew W. Foehr sold 13,000 shares of Viking Therapeutics stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $7.35, for a total transaction of $95,550.00. Following the sale, the director now owns 26,250 shares of the company’s stock, valued at $192,937.50. The disclosure for this sale can be found here. 3.70% of the stock is currently owned by company insiders.

Several hedge funds have recently bought and sold shares of the company. BlackRock Inc. raised its position in shares of Viking Therapeutics by 0.9% during the 1st quarter. BlackRock Inc. now owns 4,747,693 shares of the biotechnology company’s stock worth $22,218,000 after purchasing an additional 40,432 shares during the last quarter. State Street Corp raised its position in shares of Viking Therapeutics by 0.9% during the 1st quarter. State Street Corp now owns 3,641,950 shares of the biotechnology company’s stock worth $17,044,000 after purchasing an additional 31,688 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Viking Therapeutics by 0.9% during the 2nd quarter. Vanguard Group Inc. now owns 3,394,143 shares of the biotechnology company’s stock worth $24,471,000 after purchasing an additional 30,003 shares during the last quarter. Park West Asset Management LLC raised its position in shares of Viking Therapeutics by 3.4% during the 1st quarter. Park West Asset Management LLC now owns 1,597,507 shares of the biotechnology company’s stock worth $7,476,000 after purchasing an additional 52,432 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Viking Therapeutics by 6.4% during the 1st quarter. Geode Capital Management LLC now owns 966,914 shares of the biotechnology company’s stock worth $4,525,000 after purchasing an additional 58,399 shares during the last quarter. Institutional investors own 55.30% 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 2b clinical trials to treat patients with biopsy-confirmed non-alcoholic steatohepatitis.

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