SVB Leerink assumed coverage on shares of Viking Therapeutics (NASDAQ:VKTX) in a research report report published on Sunday morning, Price Targets.com reports. The brokerage issued a buy rating and a $18.00 price objective on the biotechnology company’s stock.
A number of other brokerages also recently issued reports on VKTX. Zacks Investment Research downgraded Viking Therapeutics from a hold rating to a sell rating in a research report on Wednesday, May 5th. Raymond James downgraded Viking Therapeutics from a strong-buy rating to an outperform rating and dropped their price target for the company from $27.00 to $12.00 in a research report on Tuesday, May 25th. B. Riley reiterated a buy rating and set a $15.00 price target on shares of Viking Therapeutics in a research report on Friday, June 18th. Finally, HC Wainwright reiterated a buy rating and set a $21.00 price target on shares of Viking Therapeutics in a research report on Thursday, June 17th. One analyst has rated the stock with a sell rating and nine have given a buy rating to the company’s stock. The company presently has an average rating of Buy and an average target price of $15.38.
VKTX stock opened at $6.11 on Friday. The stock has a market cap of $477.19 million, a price-to-earnings ratio of -10.18 and a beta of 1.85. Viking Therapeutics has a twelve month low of $4.95 and a twelve month high of $10.09. The firm’s 50-day moving average is $5.87.
In related news, Director Matthew W. Foehr acquired 20,000 shares of the stock in a transaction on Thursday, June 10th. The stock was purchased at an average price of $5.69 per share, for a total transaction of $113,800.00. Following the completion of the transaction, the director now owns 66,250 shares of the company’s stock, valued at approximately $376,962.50. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 3.70% of the company’s stock.
Hedge funds have recently made changes to their positions in the business. US Bancorp DE lifted its position in Viking Therapeutics by 242.8% in the first quarter. US Bancorp DE now owns 5,002 shares of the biotechnology company’s stock valued at $32,000 after purchasing an additional 3,543 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich lifted its position in Viking Therapeutics by 59.9% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 7,993 shares of the biotechnology company’s stock valued at $45,000 after purchasing an additional 2,993 shares during the last quarter. HighTower Advisors LLC purchased a new position in shares of Viking Therapeutics during the first quarter valued at approximately $68,000. D.A. Davidson & CO. purchased a new position in shares of Viking Therapeutics during the first quarter valued at approximately $73,000. Finally, Cambridge Investment Research Advisors Inc. purchased a new position in shares of Viking Therapeutics during the first quarter valued at approximately $89,000. Hedge funds and other institutional investors own 52.56% 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 drug candidate is VK2809, an orally available tissue and receptor-subtype selective agonist of the thyroid hormone receptor beta (TRÃ), which is in Phase IIb clinical trials to treat patients with biopsy-confirmed non-alcoholic steatohepatitis, as well as NAFLD.
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