Viking Therapeutics (VKTX) PT Set at $23.00 by Roth Capital

Roth Capital set a $23.00 price objective on Viking Therapeutics (NASDAQ:VKTX) in a report issued on Friday. The firm currently has a buy rating on the biotechnology company’s stock.

VKTX has been the topic of a number of other research reports. SunTrust Banks began coverage on shares of Viking Therapeutics in a research note on Friday, July 20th. They issued a buy rating and a $14.00 price target on the stock. Maxim Group reiterated a buy rating and issued a $28.00 price target on shares of Viking Therapeutics in a research note on Thursday. BidaskClub lowered shares of Viking Therapeutics from a hold rating to a sell rating in a research note on Wednesday, October 3rd. Raymond James set a $43.00 price target on shares of Viking Therapeutics and gave the company a buy rating in a research note on Wednesday, September 19th. Finally, William Blair reiterated a market perform rating on shares of Viking Therapeutics in a research note on Monday, October 1st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Viking Therapeutics has a consensus rating of Buy and a consensus price target of $28.00.

VKTX traded down $0.81 on Friday, reaching $12.33. The company had a trading volume of 4,027,446 shares, compared to its average volume of 2,957,749. Viking Therapeutics has a fifty-two week low of $2.24 and a fifty-two week high of $24.00. The firm has a market cap of $851.64 million, a P/E ratio of -15.61 and a beta of 2.92.

Viking Therapeutics (NASDAQ:VKTX) last announced its quarterly earnings results on Friday, November 9th. The biotechnology company reported ($0.11) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.12) by $0.01. Analysts anticipate that Viking Therapeutics will post -0.44 earnings per share for the current year.

In other Viking Therapeutics news, major shareholder Ligand Pharmaceuticals Inc sold 262,881 shares of the stock in a transaction that occurred on Tuesday, September 25th. The shares were sold at an average price of $19.15, for a total transaction of $5,034,171.15. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.90% of the stock is currently owned by corporate insiders.

Several large investors have recently made changes to their positions in the business. FMR LLC acquired a new position in shares of Viking Therapeutics during the 3rd quarter worth approximately $125,858,000. American International Group Inc. grew its position in shares of Viking Therapeutics by 21.3% during the 3rd quarter. American International Group Inc. now owns 34,403 shares of the biotechnology company’s stock worth $599,000 after purchasing an additional 6,036 shares in the last quarter. BlackRock Inc. grew its position in shares of Viking Therapeutics by 14.0% during the 3rd quarter. BlackRock Inc. now owns 3,349,901 shares of the biotechnology company’s stock worth $58,355,000 after purchasing an additional 411,256 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Viking Therapeutics by 11.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 385,484 shares of the biotechnology company’s stock worth $6,714,000 after purchasing an additional 39,455 shares in the last quarter. Finally, Eagle Asset Management Inc. grew its position in shares of Viking Therapeutics by 68.1% during the 3rd quarter. Eagle Asset Management Inc. now owns 130,987 shares of the biotechnology company’s stock worth $2,281,000 after purchasing an additional 53,076 shares in the last quarter. Hedge funds and other institutional investors own 53.56% 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 clinical program, VK5211, is an orally available, non-steroidal selective androgen receptor modulator in Phase II development for the treatment of patients recovering from non-elective hip fracture surgery; in Phase I clinical trials for improving lean body mass; and in pre-clinical trial for improving bone mineral density, bone mineral content, bone strength, and other measures.

Further Reading: Retained Earnings

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