Viking Therapeutics (NASDAQ:VKTX) Shares Down 4.1% - What's Next?

Key Points

• Viking Therapeutics' shares fell 4.1% to $33.56, with trading volume increased by 33% compared to the average session volume.
• Wall Street analysts generally maintain a positive outlook on the stock, with a consensus price target of $86.42 and two analysts rating it as a Strong Buy.
• The company reported a loss of ($0.58) earnings per share, missing analysts' estimates, while its revenue showed year-over-year growth.

Viking Therapeutics, Inc. (NASDAQ:VKTX - Get Free Report) shares fell 4.1% during trading on Friday . The stock traded as low as $33.17 and last traded at $33.56. 6,483,422 shares were traded during mid-day trading, an increase of 33% from the average session volume of 4,877,745 shares. The stock had previously closed at $34.98.

Wall Street Analyst Weigh In

Several research firms recently issued reports on VKTX. HC Wainwright restated a "buy" rating and set a $102.00 price target on shares of Viking Therapeutics in a research report on Monday, September 29th. BTIG Research restated a "buy" rating and issued a $125.00 target price on shares of Viking Therapeutics in a report on Monday, September 22nd. Citigroup upped their price target on shares of Viking Therapeutics from $31.00 to $38.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. Weiss Ratings reissued a "sell (d-)" rating on shares of Viking Therapeutics in a report on Wednesday. Finally, Raymond James Financial decreased their price objective on shares of Viking Therapeutics from $125.00 to $122.00 and set a "strong-buy" rating on the stock in a research report on Thursday, July 24th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $86.42.

Viking Therapeutics Trading Down 4.1%

The company has a market cap of $3.77 billion, a P/E ratio of -21.93 and a beta of 0.64. The business's 50 day simple moving average is $29.27 and its 200 day simple moving average is $28.02.

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

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Allworth Financial LP raised its position 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 worth $25,000 after acquiring an additional 352 shares in the last quarter. Glass Jacobson Investment Advisors llc purchased a new position in Viking Therapeutics in the 2nd quarter worth $28,000. Elevation Point Wealth Partners LLC purchased a new stake in Viking Therapeutics in the second quarter valued at approximately $29,000. Quarry LP raised its position in Viking Therapeutics by 1,621.4% during 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 during the last quarter. Finally, Parallel Advisors LLC raised its position in Viking Therapeutics by 33.4% during the 2nd quarter. Parallel Advisors LLC now owns 1,818 shares of the biotechnology company's stock worth $48,000 after buying an additional 455 shares during the last quarter. 76.03% of the stock is owned by institutional investors.

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.

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