Shares of Viking Therapeutics, Inc. (NASDAQ:VKTX – Get Rating) gapped up before the market opened on Tuesday after Stifel Nicolaus raised their price target on the stock from $22.00 to $25.00. The stock had previously closed at $9.12, but opened at $12.31. Stifel Nicolaus currently has a buy rating on the stock. Viking Therapeutics shares last traded at $13.67, with a volume of 18,037,024 shares changing hands.
A number of other equities research analysts have also recently commented on VKTX. Truist Financial raised their target price on Viking Therapeutics from $28.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday. StockNews.com initiated coverage on Viking Therapeutics in a report on Thursday, March 16th. They issued a “sell” rating on the stock. Raymond James increased their target price on Viking Therapeutics from $12.00 to $35.00 and gave the company an “outperform” rating in a research report on Wednesday. HC Wainwright reissued a “buy” rating and issued a $21.00 price target on shares of Viking Therapeutics in a research note on Thursday, February 9th. Finally, BTIG Research upped their price objective on shares of Viking Therapeutics from $20.00 to $31.00 and gave the stock a “buy” rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $25.89.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in VKTX. BlackRock Inc. grew its holdings in shares of Viking Therapeutics by 0.5% during the first quarter. BlackRock Inc. now owns 5,147,461 shares of the biotechnology company’s stock worth $15,442,000 after buying an additional 27,971 shares in the last quarter. Vanguard Group Inc. raised its holdings in Viking Therapeutics by 8.8% in the 1st quarter. Vanguard Group Inc. now owns 3,680,520 shares of the biotechnology company’s stock valued at $11,041,000 after acquiring an additional 296,353 shares during the last quarter. Balyasny Asset Management LLC lifted its stake in Viking Therapeutics by 1.2% in the 3rd quarter. Balyasny Asset Management LLC now owns 2,673,564 shares of the biotechnology company’s stock worth $7,272,000 after purchasing an additional 30,613 shares in the last quarter. Boxer Capital LLC purchased a new position in Viking Therapeutics in the 4th quarter worth approximately $14,100,000. Finally, Dimensional Fund Advisors LP grew its position in shares of Viking Therapeutics by 29.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,375,485 shares of the biotechnology company’s stock valued at $4,126,000 after purchasing an additional 312,377 shares in the last quarter. Hedge funds and other institutional investors own 34.71% of the company’s stock.
Viking Therapeutics Price Performance
Viking Therapeutics (NASDAQ:VKTX – Get Rating) last issued its earnings results on Wednesday, February 8th. The biotechnology company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.03). As a group, sell-side analysts predict that Viking Therapeutics, Inc. will post -0.96 EPS for the current fiscal year.
Viking Therapeutics Company Profile
Viking Therapeutics, Inc is a clinical-stage biopharmaceutical company, which engages in the development of therapies for metabolic and endocrine disorders. The company was founded by Brian Lian and Michael A. Dinerman on September 24, 2012 and is headquartered in San Diego, CA.
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