Fintel reports that on May 16, 2024, Raymond James upgraded their outlook for Viking Therapeutics (NasdaqCM:VKTX) from Outperform to Strong Buy.
Analyst Price Forecast Suggests 48.80% Upside
As of May 8, 2024, the average one-year price target for Viking Therapeutics is 116.08. The forecasts range from a low of 90.90 to a high of $144.90. The average price target represents an increase of 48.80% from its latest reported closing price of 78.01.
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The projected annual revenue for Viking Therapeutics is 1MM. The projected annual non-GAAP EPS is -1.13.
What is the Fund Sentiment?
There are 601 funds or institutions reporting positions in Viking Therapeutics. This is an increase of 180 owner(s) or 42.76% in the last quarter. Average portfolio weight of all funds dedicated to VKTX is 0.29%, an increase of 130.22%. Total shares owned by institutions increased in the last three months by 4.04% to 87,635K shares. 
The put/call ratio of VKTX is 0.29, indicating a bullish outlook.
What are Other Shareholders Doing?
XBI – SPDR(R) S&P(R) Biotech ETF holds 3,688K shares representing 3.34% ownership of the company. In its prior filing, the firm reported owning 4,477K shares , representing a decrease of 21.40%. The firm increased its portfolio allocation in VKTX by 8.90% over the last quarter.
Avoro Capital Advisors holds 3,590K shares representing 3.26% ownership of the company. In its prior filing, the firm reported owning 0K shares , representing an increase of 100.00%.
FDGRX – Fidelity Growth Company Fund holds 3,342K shares representing 3.03% ownership of the company. In its prior filing, the firm reported owning 3,326K shares , representing an increase of 0.50%. The firm increased its portfolio allocation in VKTX by 441.23% over the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 2,817K shares representing 2.55% ownership of the company. In its prior filing, the firm reported owning 2,779K shares , representing an increase of 1.36%. The firm increased its portfolio allocation in VKTX by 52.30% over the last quarter.
IWM – iShares Russell 2000 ETF holds 2,560K shares representing 2.32% ownership of the company. In its prior filing, the firm reported owning 2,229K shares , representing an increase of 12.92%. The firm increased its portfolio allocation in VKTX by 49.26% over the last quarter.
Viking Therapeutics Background Information
(This description is provided by the company.)
Viking Therapeutics is a clinical-stage biopharmaceutical company focused on the development of novel, orally available, first-in-class or best-in-class therapies for the treatment of metabolic and endocrine disorders. Viking’s research and development activities leverage its expertise in metabolism to develop innovative therapeutics designed to improve patients’ lives. The company’s clinical programs include VK2809, a novel, orally available, small molecule selective thyroid hormone receptor beta agonist for the treatment of lipid and metabolic disorders, which is currently being evaluated in a Phase 2b study for the treatment of biopsy-confirmed non-alcoholic steatohepatitis (NASH) and fibrosis. In a Phase 2 trial for the treatment of non-alcoholic fatty liver disease (NAFLD) and elevated LDL-C, patients who received VK2809 demonstrated statistically significant reductions in LDL-C and liver fat content compared with patients who received placebo. The company is also developing VK0214, a novel, orally available, small molecule selective thyroid hormone receptor beta agonist for the potential treatment of X-linked adrenoleukodystrophy (X-ALD). VK0214 is currently being evaluated in a Phase 1 first-in-human clinical trial. The company holds exclusive worldwide rights to a portfolio of five therapeutic programs, including those noted above, which are based on small molecules licensed from Ligand Pharmaceuticals Incorporated.
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