Viking Therapeutics (NASDAQ:VKTX) Shares Gap Up - Here's What Happened

Viking Therapeutics, Inc. (NASDAQ:VKTX - Get Free Report) shares gapped up prior to trading on Tuesday . The stock had previously closed at $25.94, but opened at $27.05. Viking Therapeutics shares last traded at $26.81, with a volume of 1,050,311 shares trading hands.

Analysts Set New Price Targets

VKTX has been the topic of several recent analyst reports. Piper Sandler reduced their price target on Viking Therapeutics from $74.00 to $71.00 and set an "overweight" rating on the stock in a report on Thursday, February 6th. Maxim Group decreased their price objective on Viking Therapeutics from $120.00 to $70.00 and set a "buy" rating for the company in a report on Friday, February 7th. B. Riley reiterated a "buy" rating and set a $96.00 target price (down from $109.00) on shares of Viking Therapeutics in a report on Friday, February 7th. Scotiabank started coverage on shares of Viking Therapeutics in a report on Thursday, February 13th. They issued a "sector outperform" rating and a $102.00 price target for the company. Finally, Raymond James boosted their price objective on shares of Viking Therapeutics from $122.00 to $125.00 and gave the stock a "strong-buy" rating in a research note on Thursday, February 6th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, Viking Therapeutics currently has a consensus rating of "Moderate Buy" and an average price target of $87.15.

Viking Therapeutics Stock Up 2.6 %

The firm has a market cap of $3.30 billion, a price-to-earnings ratio of -29.32 and a beta of 0.84. The business has a 50 day moving average of $26.16 and a 200 day moving average of $39.64.

Viking Therapeutics (NASDAQ:VKTX - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The biotechnology company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.31) by ($0.10). During the same quarter in the prior year, the business earned ($0.26) EPS. The business's revenue for the quarter was up .0% compared to the same quarter last year. Research analysts predict that Viking Therapeutics, Inc. will post -1.56 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Sarah Kathryn Rouan bought 1,240 shares of the firm's stock in a transaction that occurred on Monday, March 31st. The stock was purchased at an average price of $24.15 per share, for a total transaction of $29,946.00. Following the transaction, the director now directly owns 1,240 shares of the company's stock, valued at approximately $29,946. This represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 4.10% of the company's stock.

Institutional Investors Weigh In On Viking Therapeutics

Several large investors have recently modified their holdings of VKTX. S.A. Mason LLC boosted its holdings in shares of Viking Therapeutics by 20.0% during the fourth quarter. S.A. Mason LLC now owns 1,800 shares of the biotechnology company's stock worth $72,000 after purchasing an additional 300 shares during the period. Blue Trust Inc. lifted its stake in Viking Therapeutics by 75.9% in the fourth quarter. Blue Trust Inc. now owns 716 shares of the biotechnology company's stock valued at $29,000 after acquiring an additional 309 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich grew its position in Viking Therapeutics by 7.4% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 4,980 shares of the biotechnology company's stock worth $221,000 after acquiring an additional 345 shares in the last quarter. Arizona State Retirement System lifted its stake in shares of Viking Therapeutics by 1.2% in the 4th quarter. Arizona State Retirement System now owns 28,929 shares of the biotechnology company's stock valued at $1,164,000 after purchasing an additional 353 shares during the last quarter. Finally, HighMark Wealth Management LLC raised its holdings in Viking Therapeutics by 9.4% during the first quarter. HighMark Wealth Management LLC now owns 4,660 shares of the biotechnology company's stock valued at $113,000 after buying an additional 400 shares in 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.