Viking Therapeutics (NASDAQ:VKTX) Announces Earnings Results

Key Points

• Q4 earnings miss: Viking reported EPS of ($1.38), missing the consensus ($0.89) by $0.49, and its stock traded down about 0.7% to $28.55 on the report.
• Heavy insider selling: CEO Brian Lian and CFO Greg Zante sold large blocks on Jan 5 (233,409 and 57,661 shares), with insiders offloading 364,731 shares worth $12.05M in the quarter and now owning 4.10% of the stock.
• Analyst outlook mixed but price target high: Broker ratings vary, yet the MarketBeat consensus price target is $89.36—well above the current share price—with individual targets ranging roughly $75–$105 and an overall "Moderate Buy" average.

Viking Therapeutics (NASDAQ:VKTX - Get Free Report) posted its quarterly earnings results on Wednesday. The biotechnology company reported ($1.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.89) by ($0.49), FiscalAI reports.

Viking Therapeutics Stock Down 0.7%

Shares of NASDAQ:VKTX traded down $0.20 during midday trading on Wednesday, hitting $28.55. The stock had a trading volume of 3,637,242 shares, compared to its average volume of 3,387,265. The business's 50-day simple moving average is $33.62 and its 200-day simple moving average is $32.65. Viking Therapeutics has a 12 month low of $18.92 and a 12 month high of $43.15. The company has a market cap of $3.23 billion, a P/E ratio of -13.47 and a beta of 0.75.

Analysts Set New Price Targets

Several brokerages have commented on VKTX. JPMorgan Chase & Co. lowered their target price on shares of Viking Therapeutics from $80.00 to $75.00 and set an "overweight" rating for the company in a research note on Friday, October 24th. Cantor Fitzgerald set a $105.00 target price on Viking Therapeutics in a research note on Thursday, October 23rd. Zacks Research lowered Viking Therapeutics from a "hold" rating to a "strong sell" rating in a research report on Tuesday, January 20th. Morgan Stanley lifted their price target on shares of Viking Therapeutics from $98.00 to $102.00 and gave the company an "overweight" rating in a research note on Thursday, October 23rd. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Viking Therapeutics in a research report on Wednesday, January 21st. Three analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, two have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $89.36.

Insiders Place Their Bets

In other Viking Therapeutics news, CEO Brian Lian sold 233,409 shares of the firm's stock in a transaction on Monday, January 5th. The stock was sold at an average price of $32.96, for a total transaction of $7,693,160.64. Following the completion of the sale, the chief executive officer owned 2,499,291 shares of the company's stock, valued at $82,376,631.36. This trade represents a 8.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Greg Zante sold 57,661 shares of the stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $32.90, for a total transaction of $1,897,046.90. Following the completion of the transaction, the chief financial officer directly owned 189,891 shares in the company, valued at approximately $6,247,413.90. This represents a 23.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 364,731 shares of company stock worth $12,053,627 in the last quarter. Insiders own 4.10% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. HighTower Advisors LLC acquired a new position in Viking Therapeutics during the 4th quarter worth approximately $265,000. Wilmington Savings Fund Society FSB increased its holdings in shares of Viking Therapeutics by 42.9% during the third quarter. Wilmington Savings Fund Society FSB now owns 10,000 shares of the biotechnology company's stock worth $263,000 after buying an additional 3,000 shares in the last quarter. Advisory Services Network LLC lifted its stake in shares of Viking Therapeutics by 90.1% in the 3rd quarter. Advisory Services Network LLC now owns 36,192 shares of the biotechnology company's stock valued at $951,000 after acquiring an additional 17,158 shares during the last quarter. Woodline Partners LP boosted its holdings in shares of Viking Therapeutics by 0.3% during the 3rd quarter. Woodline Partners LP now owns 301,994 shares of the biotechnology company's stock valued at $7,936,000 after acquiring an additional 797 shares in the last quarter. Finally, XTX Topco Ltd boosted its holdings in shares of Viking Therapeutics by 15.8% during the 3rd quarter. XTX Topco Ltd now owns 41,915 shares of the biotechnology company's stock valued at $1,102,000 after acquiring an additional 5,716 shares in the last quarter. Institutional investors own 76.03% of the company's stock.

Viking Therapeutics Company Profile

Viking Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the development of novel therapies for metabolic and endocrine disorders. Headquartered in San Diego, California, the company's pipeline leverages small-molecule approaches to target hormone signaling pathways implicated in conditions such as non‐alcoholic steatohepatitis (NASH), dyslipidemia, type 2 diabetes and muscle wasting disorders.

The company's lead programs include VK2809, a thyroid hormone receptor‐beta agonist designed to reduce liver fat and improve lipid profiles in patients with NASH and dyslipidemia, and VK5211, a selective androgen receptor modulator (SARM) aimed at enhancing muscle mass and function in individuals with muscle wasting conditions.

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