Viking Therapeutics (NASDAQ:VKTX) Issues Earnings Results

Key Points

• Viking Therapeutics reported a quarterly loss of $1.55 per share, missing analysts’ consensus estimate of a $1.06 loss by $0.49.
• Shares rose 1.9% to $25.36 after the results, while the stock remains well below its 12-month high of $43.15.
• Analyst sentiment remains generally positive, with a consensus “Moderate Buy” rating and an average price target of $98.10, despite some target-price reductions and one “Sell” rating.

Viking Therapeutics (NASDAQ:VKTX - Get Free Report) issued its earnings results on Wednesday. The biotechnology company reported ($1.55) earnings per share for the quarter, missing analysts' consensus estimates of ($1.06) by ($0.49), FiscalAI reports.

Viking Therapeutics Stock Up 1.9%

Shares of VKTX stock traded up $0.47 on Wednesday, reaching $25.36. The company's stock had a trading volume of 4,112,115 shares, compared to its average volume of 3,265,956. Viking Therapeutics has a 12-month low of $23.82 and a 12-month high of $43.15. The company has a market capitalization of $3.20 billion, a P/E ratio of -5.44 and a beta of 0.66. The stock's 50 day simple moving average is $31.00 and its 200-day simple moving average is $32.50.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on VKTX. Truist Financial reduced their price objective on shares of Viking Therapeutics from $87.00 to $85.00 and set a "buy" rating for the company in a research note on Wednesday, October 7th. JPMorgan Chase & Co. dropped their target price on Viking Therapeutics from $75.00 to $65.00 and set an "overweight" rating on the stock in a research report on Tuesday, August 11th. Oppenheimer set a $120.00 price target on Viking Therapeutics in a report on Tuesday, September 22nd. Morgan Stanley reiterated an "overweight" rating on shares of Viking Therapeutics in a research report on Tuesday, September 22nd. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Viking Therapeutics in a research note on Thursday, October 15th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $98.10.

Viking Therapeutics Company Profile

Viking Therapeutics, Inc is a clinical-stage biopharmaceutical company headquartered in San Diego, California. Founded in 2012, the company develops therapies for metabolic and endocrine disorders, with a focus on conditions involving obesity, nonalcoholic steatohepatitis (NASH), and other liver and lipid disorders.

Viking's lead program is VK2735, an investigational dual GLP-1/GIP receptor agonist being developed in injectable and oral formulations for obesity and related metabolic conditions.

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