Viking Therapeutics (NASDAQ:VKTX) Trading 7.4% Higher - Still a Buy?

Key Points

• Viking Therapeutics shares jumped 7.4% to $32.23 on Monday (intraday high $32.42) on ~2.13M shares traded, about 25% below its average daily volume.
• Wall Street consensus is a Moderate Buy with an average price target of $95.50, but analyst views vary widely (several strong-buy/buy ratings and a few holds/sells; notable targets include Morgan Stanley $95 and BTIG $125).
• The company reported an earnings miss for the quarter (EPS -$1.37 vs. -$1.01 expected, versus -$0.41 year-ago) and sell-side analysts project -4.56 EPS for the current fiscal year.

Viking Therapeutics, Inc. (NASDAQ:VKTX - Get Free Report)'s share price rose 7.4% on Monday . The stock traded as high as $32.42 and last traded at $32.2310. Approximately 2,131,327 shares traded hands during trading, a decline of 25% from the average daily volume of 2,846,544 shares. The stock had previously closed at $30.00.

Wall Street Analyst Weigh In

VKTX has been the topic of several recent analyst reports. Morgan Stanley set a $95.00 target price on Viking Therapeutics in a research note on Thursday. BTIG Research reaffirmed a "buy" rating and set a $125.00 target price on shares of Viking Therapeutics in a research note on Friday. Wolfe Research initiated coverage on Viking Therapeutics in a research note on Thursday, March 26th. They set a "peer perform" rating on the stock. Truist Financial raised Viking Therapeutics to a "strong-buy" rating in a research note on Monday, April 27th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Viking Therapeutics in a research report on Monday, April 20th. Three equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Viking Therapeutics presently has an average rating of "Moderate Buy" and a consensus price target of $95.50.

Viking Therapeutics Trading Up 5.9%

The company has a market capitalization of $3.69 billion, a P/E ratio of -7.67 and a beta of 0.72. The business's 50-day simple moving average is $33.63 and its 200 day simple moving average is $34.02.

Viking Therapeutics (NASDAQ:VKTX - Get Free Report) last posted its quarterly earnings data on Wednesday, April 29th. The biotechnology company reported ($1.37) EPS for the quarter, missing analysts' consensus estimates of ($1.01) by ($0.36). During the same period in the prior year, the company earned ($0.41) earnings per share. As a group, sell-side analysts predict that Viking Therapeutics, Inc. will post -4.56 EPS for the current fiscal year.

Insider Activity at Viking Therapeutics

In other news, insider Neil William Aubuchon acquired 4,475 shares of the company's stock in a transaction dated Tuesday, March 10th. The shares were bought at an average price of $33.50 per share, with a total value of $149,912.50. Following the purchase, the insider owned 4,475 shares of the company's stock, valued at approximately $149,912.50. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 5.30% of the company's stock.

Institutional Trading of Viking Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in VKTX. Royal Bank of Canada raised its holdings in shares of Viking Therapeutics by 13.0% in the 1st quarter. Royal Bank of Canada now owns 347,716 shares of the biotechnology company's stock worth $8,396,000 after purchasing an additional 39,886 shares in the last quarter. Integrated Wealth Concepts LLC bought a new stake in shares of Viking Therapeutics in the 1st quarter worth approximately $230,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Viking Therapeutics by 1.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 470,028 shares of the biotechnology company's stock worth $11,351,000 after purchasing an additional 6,696 shares in the last quarter. Prudential Financial Inc. bought a new stake in shares of Viking Therapeutics in the 2nd quarter worth approximately $196,000. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in shares of Viking Therapeutics by 29.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,109 shares of the biotechnology company's stock worth $56,000 after purchasing an additional 481 shares in the last quarter. 76.03% of the stock is currently owned by institutional investors.

About Viking Therapeutics

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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