Viking Therapeutics, Inc. (NASDAQ:VKTX) has received a consensus recommendation of “Moderate Buy” from thirteen research firms, according to MarketBeat Ratings. Analysts’ evaluations include two sell ratings, two hold ratings, six buy recommendations, and three strong buy ratings. The average target price for the stock stands at $87.80 among brokerages that have revised their coverage within the past year.
Analysts have recently issued varying target prices for Viking Therapeutics. Canaccord Genuity Group raised their target from $106.00 to $107.00, maintaining a “buy” rating. Conversely, JPMorgan Chase & Co. lowered their target from $80.00 to $75.00, while still rating the stock as “overweight.” Other notable recommendations include a **sell (d-)** rating from Weiss Ratings and a target price of $105.00 from Cantor Fitzgerald. Morgan Stanley reiterated its “overweight” rating with a target price of $99.00.
Current Price Performance and Earnings Results
As of Wednesday, shares of Viking Therapeutics opened at $29.00. The company’s market capitalization is $3.35 billion, with a price-to-earnings ratio of -9.12 and a beta of 0.75. The firm’s 50-day simple moving average is $33.13, while the 200-day average is $32.58. Over the past year, Viking’s stock has fluctuated between a low of $18.92 and a high of $43.15.
On February 11, 2024, Viking Therapeutics reported earnings per share (EPS) of ($1.38) for the last quarter, falling short of analysts’ consensus estimate of ($0.89) by ($0.49). In the same quarter of the previous year, the company’s EPS was ($0.32). Analysts project that Viking Therapeutics will post an EPS of ($1.56) for the current fiscal year.
Insider Activity and Hedge Fund Interest
Recent insider transactions highlight significant activity at Viking Therapeutics. CEO Brian Lian sold 233,409 shares on January 5, 2024, at an average price of $32.96, totaling $7,693,160.64. Following this transaction, Lian retains 2,499,291 shares, valued at $82,376,631.36, reflecting an 8.54% decrease in ownership. COO Marianna Mancini also sold 57,661 shares during the same period for a total of $1,901,659.78, resulting in a 12.35% decline in her ownership.
In the past three months, insiders have sold 364,731 shares valued at $12,053,627, with insiders currently owning 4.10% of the company’s stock.
Several hedge funds have adjusted their positions in Viking Therapeutics recently. Jump Financial LLC acquired a new stake valued at $12,201,000 in the second quarter, while Norges Bank added a position worth $46,846,000. RFG Advisory LLC increased its holdings by 84.8% in the third quarter, now owning 120,214 shares valued at $3,159,000. Other firms, such as Marex Group plc and Bryce Point Capital LLC, also made significant investments.
Institutional investors and hedge funds now control 76.03% of Viking Therapeutics’ stock, indicating strong interest from large investment entities.
Viking Therapeutics operates out of San Diego, California, focusing on developing innovative therapies for metabolic and endocrine disorders. The company’s pipeline includes lead programs such as VK2809, designed to reduce liver fat in patients with conditions like non-alcoholic steatohepatitis (NASH), and VK5211, aimed at improving muscle mass in individuals with muscle-wasting disorders.
