Raymond James Cuts Viking Therapeutics (VKTX) Price Target to $40.00

Viking Therapeutics (NASDAQ:VKTX) had its target price dropped by equities researchers at Raymond James from $43.00 to $40.00 in a research note issued to investors on Thursday. The firm currently has a “strong-buy” rating on the biotechnology company’s stock. Raymond James’ target price would indicate a potential upside of 408.91% from the company’s current price.

Several other research analysts also recently weighed in on VKTX. B. Riley started coverage on shares of Viking Therapeutics in a research report on Tuesday, December 11th. They issued a “buy” rating and a $16.00 price target on the stock. BidaskClub upgraded shares of Viking Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Wednesday, January 2nd. Svb Leerink started coverage on shares of Viking Therapeutics in a research report on Friday, February 22nd. They issued a “mkt perform” rating on the stock. Leerink Swann initiated coverage on shares of Viking Therapeutics in a research report on Friday, February 22nd. They issued a “market perform” rating and a $10.00 price target on the stock. Finally, Maxim Group decreased their price objective on shares of Viking Therapeutics from $28.00 to $20.00 and set a “buy” rating on the stock in a research report on Thursday. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $22.88.

VKTX opened at $7.86 on Thursday. Viking Therapeutics has a 1-year low of $3.69 and a 1-year high of $24.00. The company has a market capitalization of $570.25 million, a price-to-earnings ratio of -9.95 and a beta of 2.73.

Viking Therapeutics (NASDAQ:VKTX) last released its quarterly earnings results on Wednesday, March 13th. The biotechnology company reported ($0.07) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.10) by $0.03. On average, sell-side analysts predict that Viking Therapeutics will post -0.43 EPS for the current fiscal year.

Hedge funds have recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Viking Therapeutics during the fourth quarter valued at $30,000. Lindbrook Capital LLC purchased a new position in Viking Therapeutics during the fourth quarter valued at $36,000. Great West Life Assurance Co. Can purchased a new position in Viking Therapeutics during the fourth quarter valued at $53,000. Meeder Asset Management Inc. grew its stake in Viking Therapeutics by 63.5% during the fourth quarter. Meeder Asset Management Inc. now owns 7,309 shares of the biotechnology company’s stock valued at $56,000 after acquiring an additional 2,839 shares in the last quarter. Finally, Nisa Investment Advisors LLC purchased a new position in Viking Therapeutics during the fourth quarter valued at $60,000. Hedge funds and other institutional investors own 65.69% of the company’s stock.

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 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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Analyst Recommendations for Viking Therapeutics (NASDAQ:VKTX)

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