In a report released today, Jason McCarthy from Maxim Group maintained a Buy rating on Viking Therapeutics (NASDAQ: VKTX), with a price target of $28. The company’s shares opened today at $19.93.
McCarthy wrote:
“VKTX shares are up sharply (~+80%) after announcing positive top-line 12- week P2 data for VK2809, an oral thyroid beta receptor agonist (TRβ), in Non- Alcoholic Fatty Liver Disease (NAFLD) and elevated LDL-C. We have reduced the risk in our model to 30%, from 50% and are increasing our price target to $28, from $14.”
According to TipRanks.com, McCarthy is a 5-star analyst with an average return of 13.2% and a 46.7% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as SELLAS Life Sciences Group Inc, ContraVir Pharmaceuticals Inc, and Sonoma Pharmaceuticals Inc.
Currently, the analyst consensus on Viking Therapeutics is a Strong Buy with an average price target of $28, a 40.5% upside from current levels. In a report released today, SunTrust Robinson also reiterated a Buy rating on the stock.
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The company has a one-year high of $24 and a one-year low of $1.18. Currently, Viking Therapeutics has an average volume of 2.16M.
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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.
