Maxim Group analyst Jason McCarthy maintained a Buy rating on Viking Therapeutics (VKTX) today and set a price target of $28. The company’s shares closed yesterday at $14.04.
McCarthy commented:
“Viking reported 3Q18 with a net loss of ($6.6M) and ended the period with $304M in cash. We have increased expenses going forward as the NASH program moves into later-stage development and additional programs like 0214 move into the clinic.”
According to TipRanks.com, McCarthy is a 4-star analyst with an average return of 6.4% and a 41.8% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as SELLAS Life Sciences Group Inc, ContraVir Pharmaceuticals Inc, and Sonoma Pharmaceuticals Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Viking Therapeutics with a $32.50 average price target, implying a 131.5% upside from current levels. In a report released today, H.C. Wainwright also reiterated a Buy rating on the stock with a $31 price target.
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The company has a one-year high of $24 and a one-year low of $2.13. Currently, Viking Therapeutics has an average volume of 4.15M.
Based on the recent corporate insider activity of 11 insiders, corporate insider sentiment is negative on the stock.
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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.
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