Viking Therapeutics (NASDAQ:VKTX) Stock Price Up 8.1% - Should You Buy?

Key Points

• Viking Therapeutics shares increased by 8.1%, reaching a trading high of $35.45, with a notable trading volume surge of 47% compared to the average.
• Analyst ratings are mixed, with HC Wainwright issuing a "buy" rating with a price target of $102.00, while Weiss Ratings maintains a "sell" rating, resulting in an overall consensus rating of "Moderate Buy."
• The company reported a quarterly loss of ($0.58) EPS, missing analyst estimates, and its leading drug candidate VK2809 is in Phase IIb clinical trials targeted at metabolic diseases.

Viking Therapeutics, Inc. (NASDAQ:VKTX - Get Free Report) shares rose 8.1% on Thursday . The stock traded as high as $35.45 and last traded at $34.98. Approximately 7,141,564 shares changed hands during mid-day trading, an increase of 47% from the average daily volume of 4,867,332 shares. The stock had previously closed at $32.37.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. HC Wainwright reaffirmed a "buy" rating and issued a $102.00 price target on shares of Viking Therapeutics in a report on Monday, September 29th. Raymond James Financial reduced their target price on shares of Viking Therapeutics from $125.00 to $122.00 and set a "strong-buy" rating for the company in a research note on Thursday, July 24th. Citigroup boosted their target price on shares of Viking Therapeutics from $31.00 to $38.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. BTIG Research reissued a "buy" rating and set a $125.00 target price on shares of Viking Therapeutics in a research note on Monday, September 22nd. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Viking Therapeutics in a research note on Wednesday. Two investment 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 issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $86.42.

Viking Therapeutics Stock Up 8.1%

The stock's 50-day moving average is $29.27 and its 200 day moving average is $28.02. The stock has a market capitalization of $3.93 billion, a PE ratio of -22.86 and a beta of 0.64.

Viking Therapeutics (NASDAQ:VKTX - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The biotechnology company reported ($0.58) EPS for the quarter, missing analysts' consensus estimates of ($0.44) by ($0.14). During the same quarter in the previous year, the firm earned ($0.20) EPS. Viking Therapeutics's revenue was up NaN% compared to the same quarter last year. As a group, equities research analysts forecast that Viking Therapeutics, Inc. will post -1.56 EPS for the current year.

Institutional Trading of Viking Therapeutics

Large investors have recently modified their holdings of the company. Norges Bank acquired a new position in Viking Therapeutics during the 2nd quarter valued at $46,846,000. Ameriprise Financial Inc. raised its stake in Viking Therapeutics by 4.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,476,314 shares of the biotechnology company's stock valued at $39,122,000 after purchasing an additional 58,191 shares during the last quarter. Raymond James Financial Inc. raised its stake in Viking Therapeutics by 27.0% during the 2nd quarter. Raymond James Financial Inc. now owns 822,278 shares of the biotechnology company's stock valued at $21,790,000 after purchasing an additional 174,887 shares during the last quarter. Frontier Capital Management Co. LLC raised its stake in Viking Therapeutics by 52.8% during the 2nd quarter. Frontier Capital Management Co. LLC now owns 638,204 shares of the biotechnology company's stock valued at $16,912,000 after purchasing an additional 220,396 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in Viking Therapeutics by 59.2% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 597,515 shares of the biotechnology company's stock valued at $14,430,000 after purchasing an additional 222,293 shares during the last quarter. 76.03% of the stock is 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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