Viking Therapeutics (NASDAQ:VKTX) Releases Quarterly Earnings Results, Misses Expectations By $0.14 EPS

Key Points

• Viking Therapeutics reported a quarterly earnings per share (EPS) of ($0.81), missing the consensus estimate by ($0.10).
• Shares of VKTX experienced a decline of $1.56 during trading, reaching a price of $31.42.
• Analysts have varied opinions on VKTX, with ratings ranging from a "sell (d-)" to multiple "buy" ratings and a consensus target price of $86.42.

Viking Therapeutics (NASDAQ:VKTX - Get Free Report) posted its quarterly earnings results on Wednesday. The biotechnology company reported ($0.81) earnings per share for the quarter, missing analysts' consensus estimates of ($0.67) by ($0.14), Zacks reports. The firm's revenue for the quarter was up .0% on a year-over-year basis. During the same period last year, the company earned ($0.22) EPS.

Viking Therapeutics Stock Performance

Viking Therapeutics stock traded down $1.56 during midday trading on Wednesday, reaching $31.42. 4,257,948 shares of the company's stock were exchanged, compared to its average volume of 4,838,206. Viking Therapeutics has a 52 week low of $18.92 and a 52 week high of $81.73. The stock's 50-day simple moving average is $29.00 and its 200 day simple moving average is $28.52. The firm has a market cap of $3.53 billion, a price-to-earnings ratio of -20.54 and a beta of 0.64.

Analysts Set New Price Targets

A number of analysts recently commented on VKTX shares. Citigroup upped their price objective on shares of Viking Therapeutics from $31.00 to $38.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. BTIG Research restated a "buy" rating and issued a $125.00 price target on shares of Viking Therapeutics in a report on Monday, September 22nd. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Viking Therapeutics in a research report on Wednesday, October 8th. HC Wainwright reiterated a "buy" rating and issued a $102.00 price objective on shares of Viking Therapeutics in a research report on Monday, September 29th. Finally, Raymond James Financial reduced their price target on shares of Viking Therapeutics from $125.00 to $122.00 and set a "strong-buy" rating for the company in a report on Thursday, July 24th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $86.42.

Institutional Investors Weigh In On Viking Therapeutics

A number of institutional investors have recently made changes to their positions in VKTX. E Fund Management Co. Ltd. raised its holdings in Viking Therapeutics by 2.4% in the 2nd quarter. E Fund Management Co. Ltd. now owns 17,580 shares of the biotechnology company's stock valued at $466,000 after acquiring an additional 406 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in Viking Therapeutics by 29.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,109 shares of the biotechnology company's stock valued at $56,000 after purchasing an additional 481 shares in the last quarter. California State Teachers Retirement System grew its stake in Viking Therapeutics by 0.6% during the second quarter. California State Teachers Retirement System now owns 92,823 shares of the biotechnology company's stock worth $2,460,000 after buying an additional 569 shares in the last quarter. IHT Wealth Management LLC increased its holdings in Viking Therapeutics by 5.3% in the 2nd quarter. IHT Wealth Management LLC now owns 15,528 shares of the biotechnology company's stock valued at $412,000 after buying an additional 777 shares during the period. Finally, Monimus Capital Management LP raised its position in shares of Viking Therapeutics by 3.9% in the 2nd quarter. Monimus Capital Management LP now owns 23,532 shares of the biotechnology company's stock valued at $624,000 after buying an additional 889 shares in the last quarter. Institutional investors own 76.03% of the company's stock.

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.