Maxim Group analyst Jason McCarthy reiterated a Buy rating on Viking Therapeutics (VKTX) today and set a price target of $20. The company’s shares closed yesterday at $8.25.
McCarthy noted:
“Viking reported 4Q18 with a net loss of ($5.6M) and ended the year with $302M in cash on the balance sheet. Over the course of 2018, the NASH space continued to deliver positive data, in particular from Madrigal (MDGL – NR) whose drug, MGL-3196, is in the same class as Viking’s VK2809.”
According to TipRanks.com, McCarthy is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -4.9% and a 32.1% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as Actinium Pharmaceuticals, Inovio Pharmaceuticals, and Vertex Pharmaceuticals.
Viking Therapeutics has an analyst consensus of Strong Buy, with a price target consensus of $24, a 190.9% upside from current levels. In a report released today, B.Riley FBR also reiterated a Buy rating on the stock with a $16 price target.
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Based on Viking Therapeutics’ latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $5.24 million. In comparison, last year the company had a GAAP net loss of $4.08 million.
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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.