Viking Therapeutics (NASDAQ:VKTX) Releases Earnings Results

Key Points

• Earnings miss and rising cash burn: Viking reported Q1 EPS of ($1.37) versus consensus ($1.01), with R&D spending jumping to $115.2M and a net loss of $158.3M while cash fell to about $603M; management says runway extends into 2028 despite higher-than-expected Q1 spending.
• VANQUISH Phase III fully enrolled and near-term catalysts: Both subcutaneous VK2735 Phase III trials are fully enrolled (~4,500 and ~1,000), maintenance dosing cohorts were expanded (with potential subQ maintenance data in Q3 2026), and an oral VK2735 Phase III is planned to start in Q4 2026.
• Pipeline expansion — VK3019 moving to clinic: Viking filed an IND for amylin agonist VK3019 and expects Phase I (SAD/MAD) to begin later this quarter, broadening its obesity/metabolic program beyond VK2735.

Viking Therapeutics (NASDAQ:VKTX - Get Free Report) released its quarterly earnings results on Wednesday. The biotechnology company reported ($1.37) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.01) by ($0.36), FiscalAI reports. During the same quarter last year, the business posted ($0.41) earnings per share.

Here are the key takeaways from Viking Therapeutics' conference call:

• VANQUISH Phase III enrollment complete — both subcutaneous VK2735 trials are fully enrolled (~4,500 in VANQUISH‑1; ~1,000 in VANQUISH‑2), have introduced an auto‑injector, and remain on track toward the 78‑week primary endpoints (company‑reported).
• Oral VK2735 advanced to Phase III — after End‑of‑Phase‑2 feedback and positive phase II oral data (up to ~12.2% mean weight loss), Viking plans to initiate oral Phase III in Q4 2026, positioning an oral dual GLP‑1/GIP agent in the market.
• Maintenance dosing study expanded and accelerated — the subcutaneous maintenance cohorts were increased from 4 to 8, enrollment completed rapidly, and Viking expects subQ maintenance data in Q3 2026 to inform multiple maintenance arms in the VANQUISH extensions (company aims for less‑frequent dosing options).
• Material increase in expenses and cash burn — Q1 R&D jumped to $115.2M (vs $41.4M) driving a net loss of $158.3M ($1.37/share) and cash of ~$603M at quarter end (down from $706M); management says cash runway extends into 2028 but Q1 spending exceeded prior expectations.
• VK3019 amylin program moving to clinic — an IND was filed for the amylin agonist VK3019 with Phase I (SAD/MAD) expected to start later this quarter, adding a potential complementary mechanism to Viking’s obesity franchise.

Viking Therapeutics Stock Performance

Shares of VKTX traded down $0.15 during mid-day trading on Thursday, hitting $31.18. 5,734,468 shares of the company traded hands, compared to its average volume of 2,839,834. The stock has a market cap of $3.61 billion, a price-to-earnings ratio of -9.80 and a beta of 0.83. The stock has a 50-day moving average price of $33.63 and a two-hundred day moving average price of $34.03. Viking Therapeutics has a 1 year low of $22.96 and a 1 year high of $43.15.

Insiders Place Their Bets

In related news, insider Neil William Aubuchon bought 4,475 shares of the stock in a transaction that occurred on Tuesday, March 10th. The shares were bought at an average cost of $33.50 per share, for a total transaction of $149,912.50. Following the completion of the transaction, the insider owned 4,475 shares of the company's stock, valued at approximately $149,912.50. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 5.30% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of VKTX. Corient Private Wealth LLC lifted its position in shares of Viking Therapeutics by 6.6% in the fourth quarter. Corient Private Wealth LLC now owns 16,978 shares of the biotechnology company's stock valued at $597,000 after acquiring an additional 1,053 shares in the last quarter. Alberta Investment Management Corp purchased a new stake in Viking Therapeutics during the 4th quarter valued at approximately $1,242,000. Mercer Global Advisors Inc. ADV purchased a new position in shares of Viking Therapeutics in the fourth quarter worth $235,000. Vident Advisory LLC bought a new position in shares of Viking Therapeutics during the fourth quarter worth $287,000. Finally, Empowered Funds LLC grew its stake in Viking Therapeutics by 7.0% during the fourth quarter. Empowered Funds LLC now owns 10,411 shares of the biotechnology company's stock valued at $366,000 after acquiring an additional 683 shares in the last quarter. Hedge funds and other institutional investors own 76.03% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on VKTX shares. BTIG Research raised shares of Viking Therapeutics to a "strong-buy" rating in a report on Thursday, February 26th. Cantor Fitzgerald lowered their price objective on Viking Therapeutics from $105.00 to $100.00 and set an "overweight" rating on the stock in a research report on Thursday. HC Wainwright reaffirmed a "buy" rating and issued a $102.00 price target on shares of Viking Therapeutics in a report on Monday, March 23rd. Weiss Ratings reissued a "sell (d-)" rating on shares of Viking Therapeutics in a research note on Monday, April 20th. Finally, Morgan Stanley set a $95.00 price objective on shares of Viking Therapeutics in a research report on Thursday. Four equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $95.50.

Key Stories Impacting Viking Therapeutics

Here are the key news stories impacting Viking Therapeutics this week:

• Positive Sentiment: VANQUISH Phase 3 program fully enrolled and oral Phase 3 planned — VANQUISH‑1 and VANQUISH‑2 for subcutaneous VK2735 are fully enrolled, and Viking expects to initiate a Phase 3 oral VK2735 trial in 4Q26, keeping the company on-track toward pivotal data. Viking Therapeutics Reports First Quarter 2026 Financial Results and Provides Corporate Update
• Positive Sentiment: Strong cash runway — Viking reported ~$603M in cash at quarter end, which should fund ongoing Phase 3 and early‑stage programs and reduce near‑term financing pressure. Viking Therapeutics Reports First Quarter 2026 Financial Results and Provides Corporate Update
• Positive Sentiment: Pipeline expansion — Viking filed an IND for amylin agonist VK3019 with Phase 1 expected in 2Q26, diversifying its metabolic program beyond VK2735. Viking Therapeutics Reports First Quarter 2026 Financial Results and Provides Corporate Update
• Neutral Sentiment: Q1 call/transcript available — Management discussed increased R&D investment and program timelines on the earnings call; the transcript and highlights provide detail but no new catalysts beyond guidance on study readouts. Viking Therapeutics Inc (VKTX) Q1 2026 Earnings Call Highlights
• Neutral Sentiment: Maintenance study is a potential short‑term catalyst — Analysts note a Q3 2026 maintenance‑dosing study readout could be a wildcard that, if positive, would materially de‑risk the program and improve funding optionality. Viking Therapeutics Earnings: Q3 Maintenance Study Data A Potential Wildcard
• Negative Sentiment: Earnings miss and higher R&D spend pressured the stock — Q1 EPS of ($1.37) missed consensus (~($1.01)) and the net loss widened as R&D rose to support Phase 3 activity, which investors penalized given limited near‑term revenue prospects. VKTX Q1 Earnings Miss on Higher Phase 3 Development Costs
• Negative Sentiment: Near‑term catalyst gap and competitive pressure — Key pivotal readouts for VK2735 aren’t expected until late 2027/early 2028, and analysts warn VKTX lags larger GLP‑1/GIP competitors, limiting immediate upside and extending risk exposure. Viking Therapeutics Earnings: Q3 Maintenance Study Data A Potential Wildcard

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.