FY2029 EPS Estimates for VKTX Reduced by Leerink Partnrs

Key Points

• Leerink Partners has reduced its FY2029 earnings per share estimate for Viking Therapeutics from $5.20 to $5.16, while the consensus estimate for the company's current full-year earnings is ($1.56) per share.
• Despite recent adjustments in price objectives by several analysts, Viking Therapeutics has an average rating of "Moderate Buy" with a consensus target price of $86.92.
• Viking Therapeutics reported a quarterly EPS of ($0.58), missing consensus expectations, and has seen significant insider trading activity recently, with multiple executives selling shares.

Viking Therapeutics, Inc. (NASDAQ:VKTX - Free Report) - Leerink Partnrs reduced their FY2029 earnings per share estimates for Viking Therapeutics in a note issued to investors on Thursday, July 24th. Leerink Partnrs analyst T. Smith now expects that the biotechnology company will earn $5.16 per share for the year, down from their previous estimate of $5.20. The consensus estimate for Viking Therapeutics' current full-year earnings is ($1.56) per share.

VKTX has been the subject of a number of other research reports. HC Wainwright reissued a "buy" rating and issued a $102.00 price objective on shares of Viking Therapeutics in a report on Wednesday, June 25th. Raymond James Financial lowered their price objective on Viking Therapeutics from $125.00 to $122.00 and set a "strong-buy" rating on the stock in a research note on Thursday. Truist Financial reissued a "buy" rating and set a $75.00 target price (down from $95.00) on shares of Viking Therapeutics in a report on Monday, April 28th. Cantor Fitzgerald upgraded Viking Therapeutics to a "strong-buy" rating in a research report on Tuesday, April 29th. Finally, Morgan Stanley reduced their price objective on shares of Viking Therapeutics from $105.00 to $102.00 and set an "overweight" rating on the stock in a research note on Thursday, April 24th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $86.92.

Viking Therapeutics Stock Performance

Shares of Viking Therapeutics stock opened at $33.50 on Friday. The firm has a 50-day moving average of $28.28 and a 200-day moving average of $28.86. Viking Therapeutics has a 52-week low of $18.92 and a 52-week high of $81.73. The stock has a market cap of $3.76 billion, a PE ratio of -21.90 and a beta of 0.62.

Viking Therapeutics (NASDAQ:VKTX - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The biotechnology company reported ($0.58) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.44) by ($0.14). During the same quarter last year, the company posted ($0.20) earnings per share. The firm's revenue for the quarter was up NaN% compared to the same quarter last year.

Insider Transactions at Viking Therapeutics

In related news, COO Marianna Mancini sold 4,266 shares of the firm's stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $27.77, for a total transaction of $118,466.82. Following the completion of the transaction, the chief operating officer directly owned 377,535 shares of the company's stock, valued at $10,484,146.95. This trade represents a 1.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Greg Zante sold 4,266 shares of the business's stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $27.76, for a total transaction of $118,424.16. Following the completion of the transaction, the chief financial officer owned 168,660 shares in the company, valued at $4,682,001.60. This trade represents a 2.47% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 35,421 shares of company stock worth $984,405. Corporate insiders own 4.10% of the company's stock.

Institutional Investors Weigh In On Viking Therapeutics

Hedge funds have recently added to or reduced their stakes in the company. Blue Trust Inc. lifted its holdings in shares of Viking Therapeutics by 27.2% in the second quarter. Blue Trust Inc. now owns 2,476 shares of the biotechnology company's stock valued at $66,000 after purchasing an additional 529 shares in the last quarter. IFP Advisors Inc grew its stake in shares of Viking Therapeutics by 24.0% in the 2nd quarter. IFP Advisors Inc now owns 51,925 shares of the biotechnology company's stock worth $1,476,000 after acquiring an additional 10,048 shares in the last quarter. Blair William & Co. IL raised its holdings in shares of Viking Therapeutics by 6.9% in the second quarter. Blair William & Co. IL now owns 330,007 shares of the biotechnology company's stock valued at $8,745,000 after purchasing an additional 21,442 shares during the last quarter. KLP Kapitalforvaltning AS lifted its position in shares of Viking Therapeutics by 9.2% during the second quarter. KLP Kapitalforvaltning AS now owns 22,600 shares of the biotechnology company's stock valued at $599,000 after purchasing an additional 1,900 shares in the last quarter. Finally, 111 Capital boosted its holdings in Viking Therapeutics by 62.4% during the second quarter. 111 Capital now owns 14,474 shares of the biotechnology company's stock worth $384,000 after purchasing an additional 5,559 shares during the last quarter. Institutional investors and hedge funds own 76.03% of the company's stock.

Viking Therapeutics Company Profile

Viking Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on the development of novel therapies for metabolic and endocrine disorders. The company's lead drug candidate is VK2809, an orally available tissue and receptor-subtype selective agonist of the thyroid hormone receptor beta (TRß), which is in Phase IIb clinical trials to treat patients with biopsy-confirmed non-alcoholic steatohepatitis, as well as NAFLD.

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