In a report released today, Jason McCarthy from Maxim Group maintained a Buy rating on Viking Therapeutics (NASDAQ: VKTX), with a price target of $14. The company’s shares opened today at $10.80.
McCarthy commented:
“Viking announced that VK5211 (SARM, P2 data from the hip fracture study has been selected for plenary oral presentation at the Research (ASBMR, 9/28 to 10/1). In our view, the timing of this presentation is important, as it should be just in front of what could be another significant “external” catalyst for Viking, GTx’s (GTXI – NR) SARM data in stress urinary incontinence (SUI).”
According to TipRanks.com, McCarthy is a 4-star analyst with an average return of 10.7% and a 43.1% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as IntelliPharmaCeutics International, SELLAS Life Sciences Group Inc, and ContraVir Pharmaceuticals Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Viking Therapeutics with a $14.25 average price target.
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Based on Viking Therapeutics’ latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $3.55 million. In comparison, last year the company had a GAAP net loss of $5.17 million.
Based on the recent corporate insider activity of 10 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of VKTX in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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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