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Viking Therapeutics (NASDAQ:VKTX) Shares Up 6.2%

Viking Therapeutics logo with Medical background

Viking Therapeutics, Inc. (NASDAQ:VKTX - Get Free Report)'s share price was up 6.2% on Friday . The stock traded as high as $53.96 and last traded at $53.56. Approximately 1,632,999 shares traded hands during mid-day trading, a decline of 66% from the average daily volume of 4,865,547 shares. The stock had previously closed at $50.43.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Stifel Nicolaus reissued a "buy" rating and set a $80.00 price target on shares of Viking Therapeutics in a report on Friday, March 15th. BTIG Research boosted their price target on Viking Therapeutics from $100.00 to $125.00 and gave the stock a "buy" rating in a report on Tuesday, March 26th. William Blair reaffirmed an "outperform" rating on shares of Viking Therapeutics in a report on Friday, February 23rd. Maxim Group reissued a "buy" rating and issued a $120.00 target price on shares of Viking Therapeutics in a report on Tuesday, June 4th. Finally, Oppenheimer raised their target price on shares of Viking Therapeutics from $116.00 to $138.00 and gave the company an "outperform" rating in a research note on Tuesday, March 26th. One equities research analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $112.38.

Check Out Our Latest Report on VKTX

Viking Therapeutics Trading Up 4.6 %

The business's 50 day simple moving average is $65.25 and its 200 day simple moving average is $49.86. The firm has a market capitalization of $5.82 billion, a PE ratio of -57.54 and a beta of 1.04.


Viking Therapeutics (NASDAQ:VKTX - Get Free Report) last announced its quarterly earnings results on Wednesday, April 24th. The biotechnology company reported ($0.26) EPS for the quarter, beating analysts' consensus estimates of ($0.27) by $0.01. During the same quarter in the prior year, the company posted ($0.25) earnings per share. Analysts forecast that Viking Therapeutics, Inc. will post -1.08 earnings per share for the current year.

Insider Transactions at Viking Therapeutics

In other news, CFO Greg Zante sold 66,756 shares of the business's stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $74.69, for a total transaction of $4,986,005.64. Following the transaction, the chief financial officer now owns 174,854 shares of the company's stock, valued at approximately $13,059,845.26. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, COO Marianna Mancini sold 281,425 shares of the stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $78.66, for a total value of $22,136,890.50. Following the sale, the chief operating officer now directly owns 348,508 shares of the company's stock, valued at approximately $27,413,639.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Greg Zante sold 66,756 shares of the firm's stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $74.69, for a total transaction of $4,986,005.64. Following the completion of the sale, the chief financial officer now directly owns 174,854 shares of the company's stock, valued at approximately $13,059,845.26. The disclosure for this sale can be found here. Company insiders own 4.70% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Charles Schwab Investment Management Inc. grew its position in Viking Therapeutics by 194.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 765,320 shares of the biotechnology company's stock valued at $8,472,000 after acquiring an additional 505,578 shares during the last quarter. Deutsche Bank AG grew its holdings in shares of Viking Therapeutics by 13.4% in the third quarter. Deutsche Bank AG now owns 318,288 shares of the biotechnology company's stock worth $3,523,000 after purchasing an additional 37,549 shares during the last quarter. Invesco Ltd. increased its stake in Viking Therapeutics by 4.7% in the 3rd quarter. Invesco Ltd. now owns 864,589 shares of the biotechnology company's stock worth $9,571,000 after buying an additional 38,695 shares during the period. Aigen Investment Management LP bought a new stake in Viking Therapeutics during the 3rd quarter valued at about $148,000. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Viking Therapeutics in the 3rd quarter valued at about $3,432,000. Institutional investors own 76.03% of the company's stock.

About Viking Therapeutics

(Get Free Report)

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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