B.Riley FBR Thinks Viking Therapeutics’ Stock is Going to Recover

By Ryan Adsit

In a report released today, Mayank Mamtani from B.Riley FBR reiterated a Buy rating on Viking Therapeutics (VKTXResearch Report), with a price target of $16. The company’s shares closed yesterday at $7.57, close to its 52-week low of $6.97.

Mamtani noted:

“Therapeutics, Inc. (VKTX) reported 2Q19 financial results and provided a corporate update, mainly focused on the company’s continued efforts in establishing the THR-β drug class as a therapeutic backbone in treatment of patients with non-alcoholic steatohepatitis (NASH) and X-Adrenoleukodystrophy (X-ALD) with VK2809 and VK0214, respectively. We came away particularly encouraged with preclinical activities relating to Investigational New Drug (IND) submission for both candidates, which trigger initiation of further clinical development in form of Ph. IIb biopsy-proven NASH study for VK2809 in coming months and Ph. I study for VK0214 in 1H20.”

According to TipRanks.com, Mamtani has 0 stars on 0-5 star ranking scale with an average return of -11.1% and a 24.1% success rate. Mamtani covers the Healthcare sector, focusing on stocks such as Arbutus Biopharma Corporation, Madrigal Pharmaceuticals Inc, and Allena Pharmaceuticals Inc.

Viking Therapeutics has an analyst consensus of Strong Buy, with a price target consensus of $22.33, implying a 195.0% upside from current levels. In a report released yesterday, Stifel Nicolaus also reiterated a Buy rating on the stock with a $14 price target.

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The company has a one-year high of $24 and a one-year low of $6.97. Currently, Viking Therapeutics has an average volume of 1.47M.

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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. The company’s clinical program VK5211, treats patients recovering from non-elective hip fracture surgery. It also specializes in development of VK2809 and VK0214.