In a report released today, Mayank Mamtani from B.Riley FBR reiterated a Buy rating on Viking Therapeutics (VKTX), with a price target of $16. The company’s shares closed yesterday at $8.25.
Mamtani noted:
“On 3/13, after market close, Viking Therapeutics, Inc. (VKTX) reported 4Q18 results and shared corporate updates, mainly relating to encouraging progress being made on VK2809 clinical development in non-alcoholic steatohepatitis (NASH); 4Q18 EPS of ($0.07) came in slightly ahead of our/consensus’ expectations of ($0.10). We remain impressed with the profound, best- in-class liver fat reduction observed with VK2809, now with the 5 mg low-dose cohort data also on deck to be presented as a late-breaker abstract at the upcoming EASL’19 conference.”
According to TipRanks.com, Mamtani is a 4-star analyst with an average return of 14.9% and a 55.6% success rate. Mamtani covers the Healthcare sector, focusing on stocks such as Spring Bank Pharmaceuticals Inc, Arbutus Biopharma Corporation, and Madrigal Pharmaceuticals Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Viking Therapeutics with a $23 average price target.
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The company has a one-year high of $24 and a one-year low of $3.69. Currently, Viking Therapeutics has an average volume of 2.87M.
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Viking Therapeutics, Inc. is a clinical-stage biopharmaceutical company, which engages in the development of novel therapies for patients suffering from metabolic and endocrine disorders. Its clinical program VK5211, treats patients recovering from non-elective hip fracture surgery. It also specializes in development of VK2809 and VK0214.
