Viking Therapeutics (NASDAQ: VKTX) has been upgraded to a “strong-buy” rating by BTIG Research, according to a report released on Thursday. This upgrade reflects a shift in analysts’ perspectives regarding the biotechnology company, which focuses on developing innovative therapies for metabolic and endocrine disorders.
Recent Analyst Activity and Ratings
In addition to the upgrade from BTIG Research, several other investment firms have provided updates on Viking Therapeutics. Canaccord Genuity Group raised its price target for the stock from $106.00 to $107.00 while maintaining a “buy” rating in a note issued on November 12. Zacks Research adjusted its rating from “strong sell” to “hold” on February 18. Conversely, Weiss Ratings reiterated a “sell (d-)” rating on January 21. Moreover, Morgan Stanley reaffirmed an “overweight” rating with a price target of $99.00 on February 12.
Overall, the consensus among analysts shows four ratings for “strong buy,” five for “buy,” three for “hold,” and one for “sell.” MarketBeat.com reports that Viking Therapeutics currently holds an average rating of “moderate buy” with a consensus price target of $87.80.
Quarterly Financial Performance
Viking Therapeutics recently reported its quarterly earnings data on February 11, revealing a loss of $1.38 per share, which fell short of analysts’ expectations of $0.89 by $0.49. This represents a significant decline compared to the same quarter last year, where the company reported a loss of $0.32 per share. Analysts project that Viking Therapeutics will post an average loss of $1.56 per share for the current year.
Insider Transactions and Institutional Holdings
In other developments regarding Viking Therapeutics, there has been notable insider activity. Director Matthew W. Foehr sold 16,000 shares of the company on January 2 at an average price of $35.11, amounting to a total of $561,760.00. Following this sale, he retained 132,036 shares valued at approximately $4,635,783.96, marking a 10.81% decrease in his ownership. The transaction was documented in a filing with the Securities and Exchange Commission.
Additionally, Chief Financial Officer Greg Zante sold 57,661 shares on January 5 at an average price of $32.90, totaling $1,897,046.90. After this sale, Zante held 189,891 shares valued at $6,247,413.90, reflecting a 23.29% decrease in his ownership. Over the past three months, insiders have sold a total of 364,731 shares worth $12,053,627, with corporate insiders owning 4.10% of the stock.
Several institutional investors have also recently adjusted their positions in Viking Therapeutics. The Royal Bank of Canada increased its holdings by 13.0% in the first quarter, acquiring an additional 39,886 shares, bringing its total to 347,716 shares valued at $8,396,000. Integrated Wealth Concepts LLC acquired a new stake worth approximately $230,000 during the same period.
Other notable changes include UBS Asset Management increasing its position by 1.4% to hold 470,028 shares valued at $11,351,000, and the State of New Jersey Common Pension Fund D raising its holdings by 2.5% to 67,921 shares worth $1,800,000.
Company Overview
Viking Therapeutics, Inc., headquartered in San Diego, California, operates as a clinical-stage biopharmaceutical company. It aims to develop novel therapies targeting metabolic and endocrine disorders. The company’s pipeline includes key programs such as VK2809, a thyroid hormone receptor-beta agonist designed to reduce liver fat and improve lipid profiles in patients with non-alcoholic steatohepatitis (NASH) and dyslipidemia. Another notable program is VK5211, a selective androgen receptor modulator (SARM) aimed at enhancing muscle mass and function in individuals experiencing muscle wasting conditions.
As the biotechnology sector continues to evolve, analysts and investors alike will be watching closely to see how Viking Therapeutics navigates its financial challenges and leverages its promising pipeline.
