Viking Therapeutics (NASDAQ:VKTX) Downgraded to “Buy” at ValuEngine

ValuEngine lowered shares of Viking Therapeutics (NASDAQ:VKTX) from a strong-buy rating to a buy rating in a research report released on Friday, ValuEngine reports.

A number of other brokerages have also weighed in on VKTX. BidaskClub lowered shares of Viking Therapeutics from a sell rating to a strong sell rating in a research note on Tuesday, August 6th. Citigroup began coverage on shares of Viking Therapeutics in a research note on Monday, July 15th. They set an outperform rating for the company. Oppenheimer began coverage on shares of Viking Therapeutics in a research note on Tuesday, July 16th. They set an outperform rating and a $12.00 target price for the company. CIBC assumed coverage on shares of Viking Therapeutics in a research note on Tuesday, July 16th. They set an outperform rating and a $12.00 target price for the company. Finally, Stifel Nicolaus assumed coverage on shares of Viking Therapeutics in a research report on Tuesday, June 25th. They set a buy rating and a $14.00 price objective for the company. One research analyst has rated the stock with a sell rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of Buy and an average price target of $20.53.

NASDAQ VKTX traded up $0.28 during mid-day trading on Friday, reaching $6.83. The stock had a trading volume of 1,353,500 shares, compared to its average volume of 1,385,474. Viking Therapeutics has a 1 year low of $6.53 and a 1 year high of $24.00. The stock has a market cap of $496.09 million, a PE ratio of -17.08 and a beta of 2.29. The company has a fifty day moving average price of $7.82 and a 200 day moving average price of $8.33.

Viking Therapeutics (NASDAQ:VKTX) last announced its quarterly earnings data on Thursday, August 1st. The biotechnology company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.02). On average, research analysts expect that Viking Therapeutics will post -0.46 earnings per share for the current year.

Several hedge funds have recently modified their holdings of VKTX. Capital Investment Advisory Services LLC boosted its holdings in Viking Therapeutics by 126.5% in the 2nd quarter. Capital Investment Advisory Services LLC now owns 3,850 shares of the biotechnology company’s stock worth $32,000 after buying an additional 2,150 shares during the period. Quantamental Technologies LLC bought a new position in Viking Therapeutics in the 2nd quarter worth $50,000. Legal & General Group Plc boosted its holdings in Viking Therapeutics by 38.0% in the 4th quarter. Legal & General Group Plc now owns 10,704 shares of the biotechnology company’s stock worth $82,000 after buying an additional 2,945 shares during the period. Wedbush Securities Inc. bought a new position in Viking Therapeutics in the 2nd quarter worth $97,000. Finally, Hayden Royal LLC bought a new position in Viking Therapeutics in the 2nd quarter worth $111,000. 62.91% of the stock is owned by hedge funds and other institutional investors.

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 II clinical trials to treat patients with non-alcoholic fatty liver disease and elevated low-density lipoprotein cholesterol.

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Analyst Recommendations for Viking Therapeutics (NASDAQ:VKTX)

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