Viking Therapeutics (NASDAQ:VKTX) Shares Down 2.5% - Should You Sell?

Key Points

• Viking Therapeutics' shares fell by 2.5%, trading between $32.21 and $33.05, with a notable decline in trading volume of 37% from the average.
• Analysts have mixed views on the stock; Citigroup raised its price target to $38.00, while other analysts set targets ranging from $102.00 to $125.00.
• The company reported (\$0.58) earnings per share, missing estimates, and has an average target price of $86.42 according to analysts.

Shares of Viking Therapeutics, Inc. (NASDAQ:VKTX - Get Free Report) fell 2.5% on Tuesday . The company traded as low as $32.21 and last traded at $33.05. 3,068,768 shares traded hands during trading, a decline of 37% from the average session volume of 4,862,523 shares. The stock had previously closed at $33.91.

Analyst Ratings Changes

VKTX has been the topic of a number of recent analyst reports. Citigroup increased 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 reissued a "buy" rating and issued a $125.00 target price on shares of Viking Therapeutics in a report on Monday, September 22nd. Raymond James Financial dropped their target price on Viking Therapeutics from $125.00 to $122.00 and set a "strong-buy" rating on the stock in a report on Thursday, July 24th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Viking Therapeutics in a report on Wednesday, October 8th. Finally, HC Wainwright reiterated a "buy" rating and issued a $102.00 price objective on shares of Viking Therapeutics in a report on Monday, September 29th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $86.42.

Viking Therapeutics Trading Down 2.5%

The stock has a market cap of $3.72 billion, a PE ratio of -21.60 and a beta of 0.64. The business has a 50 day moving average of $29.29 and a 200-day moving average of $28.15.

Viking Therapeutics (NASDAQ:VKTX - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The biotechnology company reported ($0.58) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.44) by ($0.14). The firm's revenue for the quarter was up NaN% on a year-over-year basis. During the same period last year, the firm posted ($0.20) EPS. Research analysts expect that Viking Therapeutics, Inc. will post -1.56 EPS for the current fiscal year.

Hedge Funds Weigh In On Viking Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Allworth Financial LP grew its stake in shares of Viking Therapeutics by 58.4% in the 2nd quarter. Allworth Financial LP now owns 955 shares of the biotechnology company's stock valued at $25,000 after purchasing an additional 352 shares during the last quarter. Glass Jacobson Investment Advisors llc acquired a new position in Viking Therapeutics during the second quarter worth $28,000. Elevation Point Wealth Partners LLC purchased a new position in shares of Viking Therapeutics in the second quarter valued at $29,000. Quarry LP boosted its position in shares of Viking Therapeutics by 1,621.4% in the 1st quarter. Quarry LP now owns 1,205 shares of the biotechnology company's stock worth $29,000 after buying an additional 1,135 shares in the last quarter. Finally, Parallel Advisors LLC lifted its holdings in shares of Viking Therapeutics by 33.4% in the second quarter. Parallel Advisors LLC now owns 1,818 shares of the biotechnology company's stock valued at $48,000 after purchasing an additional 455 shares in the last quarter. Hedge funds and other institutional investors own 76.03% of the company's stock.

Viking Therapeutics Company Profile

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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