Viking Therapeutics (NASDAQ:VKTX) had its price objective cut by Raymond James from $43.00 to $40.00 in a research report report published on Thursday morning. They currently have a strong-buy rating on the biotechnology company’s stock.
A number of other research firms also recently weighed in on VKTX. B. Riley began coverage on Viking Therapeutics in a research note on Tuesday, December 11th. They issued a buy rating and a $16.00 price target on the stock. Svb Leerink initiated coverage on Viking Therapeutics in a research report on Friday, February 22nd. They set a mkt perform rating on the stock. Leerink Swann initiated coverage on Viking Therapeutics in a research report on Friday, February 22nd. They set a market perform rating and a $10.00 target price on the stock. BidaskClub upgraded Viking Therapeutics from a strong sell rating to a sell rating in a research report on Wednesday, January 2nd. Finally, William Blair reiterated an outperform rating on shares of Viking Therapeutics in a research report on Thursday. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. The company currently has an average rating of Buy and a consensus price target of $22.88.
Shares of NASDAQ:VKTX traded up $0.05 during trading on Thursday, reaching $7.77. The company had a trading volume of 60,399 shares, compared to its average volume of 2,875,690. Viking Therapeutics has a fifty-two week low of $3.69 and a fifty-two week high of $24.00. The firm has a market cap of $570.25 million, a P/E ratio of -9.84 and a beta of 2.73.
Large investors have recently modified their holdings of the company. BlackRock Inc. lifted its position in shares of Viking Therapeutics by 14.0% in the third quarter. BlackRock Inc. now owns 3,349,901 shares of the biotechnology company’s stock valued at $58,355,000 after acquiring an additional 411,256 shares in the last quarter. Hikari Power Ltd acquired a new position in Viking Therapeutics in the fourth quarter valued at $306,000. Vanguard Group Inc. increased its stake in Viking Therapeutics by 21.4% in the third quarter. Vanguard Group Inc. now owns 2,877,287 shares of the biotechnology company’s stock valued at $50,123,000 after purchasing an additional 508,097 shares during the last quarter. Man Group plc acquired a new position in Viking Therapeutics in the third quarter valued at $211,000. Finally, Nisa Investment Advisors LLC acquired a new position in Viking Therapeutics in the fourth quarter valued at $60,000. Institutional investors and hedge funds own 65.69% 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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