FY2029 Earnings Estimate for VKTX Issued 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 dropped their FY2029 earnings per share (EPS) estimates for Viking Therapeutics in a note issued to investors on Thursday, July 24th. Leerink Partnrs analyst T. Smith now forecasts that the biotechnology company will post earnings of $5.16 per share for the year, down from their prior forecast of $5.20. The consensus estimate for Viking Therapeutics' current full-year earnings is ($1.56) per share.

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

Several other research firms have also recently weighed in on VKTX. Truist Financial restated a "buy" rating and set a $75.00 price target (down from $95.00) on shares of Viking Therapeutics in a report on Monday, April 28th. Morgan Stanley reduced their price target on Viking Therapeutics from $105.00 to $102.00 and set an "overweight" rating on the stock in a report on Thursday, April 24th. The Goldman Sachs Group began coverage on Viking Therapeutics in a research note on Tuesday, April 8th. They issued a "neutral" rating and a $30.00 price objective on the stock. Cantor Fitzgerald raised Viking Therapeutics to a "strong-buy" rating in a research note on Tuesday, April 29th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $102.00 price objective on shares of Viking Therapeutics in a research note on Wednesday, June 25th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $86.92.

Viking Therapeutics Stock Performance

Shares of NASDAQ:VKTX traded up $0.15 during midday trading on Friday, hitting $33.35. 2,112,566 shares of the stock were exchanged, compared to its average volume of 4,101,984. The stock has a market capitalization of $3.75 billion, a price-to-earnings ratio of -21.77 and a beta of 0.62. The business's 50-day moving average price is $28.64 and its 200 day moving average price is $28.54. Viking Therapeutics has a 12 month low of $18.92 and a 12 month high of $81.73.

Insider Buying and Selling at Viking Therapeutics

In other news, COO Marianna Mancini sold 4,266 shares of the company's stock in a transaction that occurred 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 transaction, the chief operating officer directly owned 377,535 shares of the company's stock, valued at $10,484,146.95. This represents a 1.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Brian Lian sold 26,889 shares of the company's stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $27.80, for a total value of $747,514.20. Following the transaction, the chief executive officer directly owned 2,388,014 shares in the company, valued at $66,386,789.20. The trade was a 1.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 35,421 shares of company stock valued at $984,405. 4.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Viking Therapeutics

A number of institutional investors have recently modified their holdings of VKTX. FMR LLC increased its position in shares of Viking Therapeutics by 0.6% during the 4th quarter. FMR LLC now owns 16,715,438 shares of the biotechnology company's stock valued at $672,629,000 after purchasing an additional 96,008 shares during the last quarter. Geode Capital Management LLC boosted its stake in Viking Therapeutics by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 1,880,713 shares of the biotechnology company's stock worth $75,704,000 after purchasing an additional 17,046 shares during the period. Braidwell LP boosted its stake in Viking Therapeutics by 27.9% in the 4th quarter. Braidwell LP now owns 1,479,666 shares of the biotechnology company's stock worth $59,542,000 after purchasing an additional 322,689 shares during the period. Ameriprise Financial Inc. boosted its stake in Viking Therapeutics by 228.5% in the 4th quarter. Ameriprise Financial Inc. now owns 1,479,596 shares of the biotechnology company's stock worth $59,540,000 after purchasing an additional 1,029,125 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its stake in Viking Therapeutics by 446.7% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,357,241 shares of the biotechnology company's stock worth $54,615,000 after purchasing an additional 1,108,972 shares during the period. 76.03% of the stock is owned by institutional investors and hedge funds.

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.