Viking Therapeutics (NASDAQ:VKTX)‘s stock had its “buy” rating reissued by research analysts at HC Wainwright in a report released on Thursday. They currently have a $31.00 price target on the biotechnology company’s stock. HC Wainwright’s target price would suggest a potential upside of 151.42% from the stock’s current price.
The analysts wrote, “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.””
A number of other research firms have also commented on VKTX. Raymond James set a $43.00 price target on shares of Viking Therapeutics and gave the company a “buy” rating in a report on Wednesday, September 19th. SunTrust Banks upped their price target on shares of Viking Therapeutics to $28.00 and gave the company a “buy” rating in a report on Wednesday, September 19th. Roth Capital upped their price objective on shares of Viking Therapeutics from $13.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, September 19th. Maxim Group restated a “buy” rating and issued a $28.00 price objective (up from $14.00) on shares of Viking Therapeutics in a report on Tuesday, September 18th. Finally, William Blair restated a “market perform” rating on shares of Viking Therapeutics in a report on Monday, October 1st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Viking Therapeutics currently has an average rating of “Buy” and an average price target of $28.00.
NASDAQ:VKTX opened at $12.33 on Thursday. Viking Therapeutics has a 52 week low of $2.24 and a 52 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 posted 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. On average, equities analysts anticipate that Viking Therapeutics will post -0.44 earnings per share for the current fiscal year.
In other Viking Therapeutics news, major shareholder Ligand Pharmaceuticals Inc sold 262,881 shares of the company’s stock in a transaction on Tuesday, September 25th. The shares were sold at an average price of $19.15, for a total value of $5,034,171.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.90% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of VKTX. FMR LLC purchased a new stake in shares of Viking Therapeutics in the 3rd quarter worth about $125,858,000. Boxer Capital LLC grew its position in shares of Viking Therapeutics by 17.7% in the 2nd quarter. Boxer Capital LLC now owns 3,750,000 shares of the biotechnology company’s stock worth $35,588,000 after buying an additional 564,000 shares during the period. BlackRock Inc. grew its position in shares of Viking Therapeutics by 14.0% in the 3rd quarter. BlackRock Inc. now owns 3,349,901 shares of the biotechnology company’s stock worth $58,355,000 after buying an additional 411,256 shares during the period. Janus Henderson Group PLC purchased a new stake in shares of Viking Therapeutics in the 2nd quarter worth about $19,552,000. Finally, Millennium Management LLC grew its position in shares of Viking Therapeutics by 99.1% in the 1st quarter. Millennium Management LLC now owns 1,399,370 shares of the biotechnology company’s stock worth $6,115,000 after buying an additional 696,398 shares during the period. Institutional investors and hedge funds 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.
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