Viking Therapeutics Inc (NASDAQ:VKTX)’s share price was down 6.4% during mid-day trading on Thursday after Raymond James lowered their price target on the stock from $43.00 to $40.00. Raymond James currently has a strong-buy rating on the stock. Viking Therapeutics traded as low as $7.51 and last traded at $7.72. Approximately 5,229,504 shares were traded during trading, an increase of 82% from the average daily volume of 2,875,690 shares. The stock had previously closed at $8.25.

VKTX has been the subject of several other research reports. BidaskClub cut Viking Therapeutics from a “sell” rating to a “strong sell” rating in a report on Wednesday, March 6th. Leerink Swann started coverage on Viking Therapeutics in a report on Friday, February 22nd. They issued a “market perform” rating and a $10.00 price objective for the company. Svb Leerink started coverage on Viking Therapeutics in a report on Friday, February 22nd. They issued a “mkt perform” rating for the company. B. Riley started coverage on Viking Therapeutics in a report on Tuesday, December 11th. They issued a “buy” rating and a $16.00 price objective for the company. Finally, William Blair restated an “outperform” rating on shares of Viking Therapeutics in a report on Thursday. One analyst has rated the stock with a sell rating, one has issued a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $22.88.

A number of large investors have recently modified their holdings of the stock. Knott David M lifted its stake in Viking Therapeutics by 0.6% in the 4th quarter. Knott David M now owns 238,102 shares of the biotechnology company’s stock valued at $1,821,000 after purchasing an additional 1,502 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Viking Therapeutics by 0.4% in the 4th quarter. Bank of New York Mellon Corp now owns 387,039 shares of the biotechnology company’s stock valued at $2,960,000 after purchasing an additional 1,555 shares during the last quarter. TIAA CREF Investment Management LLC lifted its stake in Viking Therapeutics by 1.6% in the 3rd quarter. TIAA CREF Investment Management LLC now owns 98,296 shares of the biotechnology company’s stock valued at $1,712,000 after purchasing an additional 1,562 shares during the last quarter. Court Place Advisors LLC lifted its stake in Viking Therapeutics by 18.5% in the 4th quarter. Court Place Advisors LLC now owns 12,800 shares of the biotechnology company’s stock valued at $98,000 after purchasing an additional 2,000 shares during the last quarter. Finally, Meeder Asset Management Inc. lifted its stake in Viking Therapeutics by 63.5% in the 4th quarter. Meeder Asset Management Inc. now owns 7,309 shares of the biotechnology company’s stock valued at $56,000 after purchasing an additional 2,839 shares during the last quarter. Institutional investors and hedge funds own 65.69% of the company’s stock.

The company has a market cap of $570.25 million, a PE ratio of -9.77 and a beta of 2.73.

Viking Therapeutics (NASDAQ:VKTX) last issued its earnings results on Wednesday, March 13th. The biotechnology company reported ($0.07) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.10) by $0.03. As a group, sell-side analysts anticipate that Viking Therapeutics Inc will post -0.43 earnings per share for the current fiscal year.

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About Viking Therapeutics (NASDAQ:VKTX)

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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