Viking Therapeutics (NASDAQ:VKTX) Stock Crosses Above 50 Day Moving Average - Here's What Happened

Key Points

• Viking Therapeutics crossed above its 50-day moving average of $33.36, trading as high as $34.40 and last at $34.25 on volume of 1,607,887 shares.
• Analysts hold a consensus rating of Moderate Buy with a consensus target price of $94.22, derived from a mix of Strong Buy, Buy, Hold and Sell ratings.
• The company reported Q latest EPS of ($1.38), missing estimates of ($0.89), and analysts expect a -3.78 EPS for the current year, indicating continued losses despite market and analyst interest.

Viking Therapeutics, Inc. (NASDAQ:VKTX - Get Free Report) crossed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $33.36 and traded as high as $34.40. Viking Therapeutics shares last traded at $34.25, with a volume of 1,607,887 shares trading hands.

Analyst Ratings Changes

A number of analysts recently weighed in on VKTX shares. Zacks Research raised shares of Viking Therapeutics from a "strong sell" rating to a "hold" rating in a research report on Wednesday, February 18th. HC Wainwright reaffirmed a "buy" rating and set a $102.00 price target on shares of Viking Therapeutics in a research report on Monday, March 23rd. Wolfe Research started coverage on shares of Viking Therapeutics in a research report on Thursday, March 26th. They set a "peer perform" rating for the company. Morgan Stanley reaffirmed an "overweight" rating and set a $99.00 price target on shares of Viking Therapeutics in a research report on Thursday, February 12th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Viking Therapeutics in a research report on Monday. Four research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $94.22.

Viking Therapeutics Trading Up 1.3%

The business's 50-day moving average is $33.36 and its two-hundred day moving average is $34.05. The stock has a market capitalization of $3.97 billion, a PE ratio of -10.77 and a beta of 0.83.

Viking Therapeutics (NASDAQ:VKTX - Get Free Report) last announced its quarterly earnings results on Wednesday, February 11th. The biotechnology company reported ($1.38) earnings per share for the quarter, missing analysts' consensus estimates of ($0.89) by ($0.49). During the same period in the previous year, the firm earned ($0.32) EPS. On average, analysts predict that Viking Therapeutics, Inc. will post -3.78 EPS for the current year.

Insiders Place Their Bets

In other news, insider Neil William Aubuchon acquired 4,475 shares of the firm's stock in a transaction on Tuesday, March 10th. The stock was bought at an average cost of $33.50 per share, with a total value of $149,912.50. Following the transaction, the insider directly owned 4,475 shares in the company, valued at approximately $149,912.50. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 5.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Viking Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in VKTX. BNP Paribas Financial Markets boosted its position in Viking Therapeutics by 536.3% in the 4th quarter. BNP Paribas Financial Markets now owns 992,695 shares of the biotechnology company's stock valued at $34,923,000 after buying an additional 836,686 shares during the last quarter. Two Sigma Investments LP boosted its position in Viking Therapeutics by 58.7% in the 3rd quarter. Two Sigma Investments LP now owns 2,085,487 shares of the biotechnology company's stock valued at $54,807,000 after buying an additional 771,704 shares during the last quarter. Ameriprise Financial Inc. boosted its position in Viking Therapeutics by 41.8% in the 3rd quarter. Ameriprise Financial Inc. now owns 2,092,840 shares of the biotechnology company's stock valued at $55,000,000 after buying an additional 616,526 shares during the last quarter. Cubist Systematic Strategies LLC boosted its position in Viking Therapeutics by 6,315.6% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 596,650 shares of the biotechnology company's stock valued at $15,811,000 after buying an additional 587,350 shares during the last quarter. Finally, Artia Global Partners LP boosted its position in Viking Therapeutics by 392.1% in the 4th quarter. Artia Global Partners LP now owns 719,365 shares of the biotechnology company's stock valued at $25,307,000 after buying an additional 573,186 shares during the last quarter. 76.03% of the stock is owned by hedge funds and other institutional investors.

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.

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