Viking Therapeutics (NASDAQ:VKTX) Trading 1.6% Higher Following Earnings Beat

Viking Therapeutics, Inc. (NASDAQ:VKTX - Get Free Report)'s share price shot up 1.6% during trading on Thursday following a stronger than expected earnings report. The company traded as high as $69.17 and last traded at $66.14. 1,593,187 shares were traded during mid-day trading, a decline of 72% from the average session volume of 5,598,100 shares. The stock had previously closed at $65.07.

The biotechnology company reported ($0.26) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.27) by $0.01. During the same quarter last year, the firm earned ($0.25) EPS.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on VKTX shares. Oppenheimer upped their price target on shares of Viking Therapeutics from $116.00 to $138.00 and gave the company an "outperform" rating in a research report on Tuesday, March 26th. William Blair restated an "outperform" rating on shares of Viking Therapeutics in a research report on Friday, February 23rd. Raymond James upped their price target on shares of Viking Therapeutics from $37.00 to $115.00 and gave the company an "outperform" rating in a research report on Tuesday, February 27th. StockNews.com upgraded shares of Viking Therapeutics to a "sell" rating in a research report on Thursday. Finally, Maxim Group reiterated a "buy" rating and set a $120.00 price objective on shares of Viking Therapeutics in a research report on Friday, March 15th. One investment analyst has rated the stock with a sell rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $112.25.

Insider Buying and Selling at Viking Therapeutics

In other Viking Therapeutics news, Director Sarah Kathryn Rouan sold 25,000 shares of the firm's stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $28.05, for a total value of $701,250.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director Sarah Kathryn Rouan sold 25,000 shares of the firm's stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $28.05, for a total transaction of $701,250.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Brian Lian sold 269,079 shares of the firm's stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $26.87, for a total transaction of $7,230,152.73. Following the sale, the chief executive officer now owns 2,184,882 shares of the company's stock, valued at approximately $58,707,779.34. The disclosure for this sale can be found here. Over the last three months, insiders have sold 329,079 shares of company stock valued at $8,769,653. Corporate insiders own 4.70% of the company's stock.

Hedge Funds Weigh In On Viking Therapeutics

Large investors have recently modified their holdings of the company. Massmutual Trust Co. FSB ADV bought a new stake in Viking Therapeutics during the first quarter valued at approximately $25,000. Global Retirement Partners LLC lifted its position in Viking Therapeutics by 125.6% during the first quarter. Global Retirement Partners LLC now owns 1,015 shares of the biotechnology company's stock valued at $83,000 after purchasing an additional 565 shares during the last quarter. New York State Common Retirement Fund lifted its position in Viking Therapeutics by 1.6% during the fourth quarter. New York State Common Retirement Fund now owns 39,321 shares of the biotechnology company's stock valued at $732,000 after purchasing an additional 609 shares during the last quarter. Spire Wealth Management bought a new stake in Viking Therapeutics during the first quarter valued at approximately $61,000. Finally, Pallas Capital Advisors LLC lifted its holdings in shares of Viking Therapeutics by 6.8% in the 4th quarter. Pallas Capital Advisors LLC now owns 14,366 shares of the biotechnology company's stock worth $267,000 after acquiring an additional 917 shares during the last quarter. 76.03% of the stock is currently owned by institutional investors.

Viking Therapeutics Trading Up 5.8 %

The stock has a market capitalization of $7.59 billion, a P/E ratio of -73.18 and a beta of 1.05. The stock's fifty day moving average price is $66.95 and its two-hundred day moving average price is $34.33.

About Viking Therapeutics

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.