Viking Therapeutics (NASDAQ:VKTX) Shares Up 3.4% - Here's Why

Shares of Viking Therapeutics, Inc. (NASDAQ:VKTX - Get Free Report) shot up 3.4% during mid-day trading on Wednesday . The company traded as high as $27.81 and last traded at $28.10. 369,089 shares traded hands during mid-day trading, a decline of 91% from the average session volume of 4,061,632 shares. The stock had previously closed at $27.18.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on VKTX. The Goldman Sachs Group began coverage on Viking Therapeutics in a research note on Tuesday, April 8th. They set a "neutral" rating and a $30.00 price target for the company. Morgan Stanley decreased their price target on Viking Therapeutics from $105.00 to $102.00 and set an "overweight" rating for the company in a research note on Thursday, April 24th. Maxim Group decreased their price target on Viking Therapeutics from $120.00 to $70.00 and set a "buy" rating for the company in a research note on Friday, February 7th. B. Riley reaffirmed a "buy" rating and set a $96.00 price target (down from $109.00) on shares of Viking Therapeutics in a research note on Friday, February 7th. Finally, Scotiabank started coverage on Viking Therapeutics in a research note on Thursday, February 13th. They set a "sector outperform" rating and a $102.00 price objective for the company. One 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. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $87.15.

Viking Therapeutics Price Performance

The company has a fifty day moving average of $25.84 and a 200-day moving average of $34.39. The firm has a market capitalization of $3.05 billion, a PE ratio of -27.18 and a beta of 0.75.

Viking Therapeutics (NASDAQ:VKTX - Get Free Report) last announced 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 period last year, the firm posted ($0.26) earnings per share. The firm's quarterly revenue was up .0% on a year-over-year basis. Equities analysts anticipate that Viking Therapeutics, Inc. will post -1.56 EPS for the current year.

Insider Buying and Selling at Viking Therapeutics

In related news, Director Sarah Kathryn Rouan bought 1,240 shares of the business's stock in a transaction on Monday, March 31st. The shares were bought at an average cost of $24.15 per share, for a total transaction of $29,946.00. Following the completion of the acquisition, the director now directly owns 1,240 shares in the company, valued at approximately $29,946. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 4.10% of the company's stock.

Hedge Funds Weigh In On Viking Therapeutics

A number of institutional investors have recently made changes to their positions in the business. FMR LLC increased its stake in shares of Viking Therapeutics by 0.6% in the fourth quarter. FMR LLC now owns 16,715,438 shares of the biotechnology company's stock worth $672,629,000 after purchasing an additional 96,008 shares during the period. Geode Capital Management LLC increased its stake in shares of Viking Therapeutics by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 1,880,713 shares of the biotechnology company's stock worth $75,704,000 after purchasing an additional 17,046 shares during the period. Braidwell LP increased its stake in shares of Viking Therapeutics by 27.9% in the fourth quarter. Braidwell LP now owns 1,479,666 shares of the biotechnology company's stock worth $59,542,000 after purchasing an additional 322,689 shares during the period. Ameriprise Financial Inc. increased its stake in Viking Therapeutics by 228.5% during the fourth quarter. Ameriprise Financial Inc. now owns 1,479,596 shares of the biotechnology company's stock valued at $59,540,000 after acquiring an additional 1,029,125 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its stake in Viking Therapeutics by 446.7% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,357,241 shares of the biotechnology company's stock valued at $54,615,000 after acquiring an additional 1,108,972 shares during the period. 76.03% of the stock is currently owned by institutional investors.

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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