Viking Therapeutics (NASDAQ:VKTX) Trading 7.4% Higher - What's Next?

Key Points

• Viking Therapeutics shares rose by 7.4%, closing at $26.82, but the trading volume was 23% lower than the average session volume.
• Analysts have mixed outlooks, with price targets ranging from $38.00 to $125.00, but the consensus rating is a "Buy".
• The company missed earnings expectations with an EPS of ($0.58), while revenue growth remains uncertain compared to last year.

Viking Therapeutics, Inc. (NASDAQ:VKTX - Get Free Report) shares shot up 7.4% on Wednesday . The company traded as high as $26.32 and last traded at $26.82. 3,721,226 shares changed hands during trading, a decline of 23% from the average session volume of 4,843,819 shares. The stock had previously closed at $24.97.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on VKTX shares. Raymond James Financial cut their price target on 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. BTIG Research restated a "buy" rating and set a $125.00 target price on shares of Viking Therapeutics in a research report on Monday. HC Wainwright reaffirmed a "buy" rating and issued a $102.00 target price on shares of Viking Therapeutics in a report on Tuesday, August 19th. Finally, Citigroup increased their price target on Viking Therapeutics from $31.00 to $38.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Viking Therapeutics has a consensus rating of "Buy" and a consensus target price of $90.38.

Viking Therapeutics Trading Up 6.6%

The firm has a market cap of $2.99 billion, a price-to-earnings ratio of -17.43 and a beta of 0.73. The company has a fifty day moving average price of $30.23 and a 200-day moving average price of $28.05.

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

Insider Activity at Viking Therapeutics

In related news, COO Marianna Mancini sold 4,266 shares of Viking Therapeutics stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $27.77, for a total value of $118,466.82. Following the sale, the chief operating officer directly owned 377,535 shares in the company, valued at approximately $10,484,146.95. The trade was a 1.12% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Brian Lian sold 26,889 shares of the stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $27.80, for a total value of $747,514.20. Following the transaction, the chief executive officer directly owned 2,388,014 shares of the company's stock, valued at $66,386,789.20. The trade was a 1.11% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 35,421 shares of company stock valued at $984,405. 4.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Viking Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of VKTX. Allworth Financial LP grew its stake in Viking Therapeutics by 58.4% during the 2nd quarter. Allworth Financial LP now owns 955 shares of the biotechnology company's stock valued at $25,000 after acquiring an additional 352 shares in the last quarter. Glass Jacobson Investment Advisors llc acquired a new position in shares of Viking Therapeutics during the 2nd quarter worth approximately $28,000. Quarry LP increased its holdings in shares of Viking Therapeutics by 1,621.4% in the first quarter. Quarry LP now owns 1,205 shares of the biotechnology company's stock valued at $29,000 after purchasing an additional 1,135 shares during the last quarter. Elevation Point Wealth Partners LLC purchased a new position in Viking Therapeutics during the second quarter worth approximately $29,000. Finally, Parallel Advisors LLC boosted its stake in Viking Therapeutics by 64.8% during the first quarter. Parallel Advisors LLC now owns 1,363 shares of the biotechnology company's stock worth $33,000 after buying an additional 536 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, 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.