Viking Therapeutics (NASDAQ:VKTX) Trading Down 3.4% - Time to Sell?

Key Points

• Viking Therapeutics shares fell 3.4% to trade at $33.54, with a notable decrease in trading volume compared to average levels.
• Analyst ratings are mixed; Citigroup raised its target to $38 with a "neutral" rating, while Weiss Ratings issued a "sell" rating amidst a consensus price target of $86.42.
• Viking Therapeutics reported a quarterly EPS of ($0.58), missing estimates and indicating challenges as it prepares for a fiscal year with projected earnings of ($1.56).

Viking Therapeutics, Inc. (NASDAQ:VKTX - Get Free Report)'s share price dropped 3.4% on Friday . The stock traded as low as $32.76 and last traded at $33.54. Approximately 4,036,822 shares were traded during trading, a decline of 17% from the average daily volume of 4,859,025 shares. The stock had previously closed at $34.73.

Wall Street Analysts Forecast Growth

VKTX has been the subject of several research analyst reports. Citigroup lifted their price target 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. Raymond James Financial cut their price objective on shares of Viking Therapeutics from $125.00 to $122.00 and set a "strong-buy" rating on the stock in a report on Thursday, July 24th. HC Wainwright reissued a "buy" rating and issued a $102.00 price objective on shares of Viking Therapeutics in a research note on Monday, September 29th. Weiss Ratings reissued a "sell (d-)" rating on shares of Viking Therapeutics in a research note on Wednesday, October 8th. Finally, BTIG Research reissued a "buy" rating and issued a $125.00 price objective on shares of Viking Therapeutics in a research note on Monday, September 22nd. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Viking Therapeutics has an average rating of "Moderate Buy" and a consensus price target of $86.42.

Viking Therapeutics Price Performance

The company's fifty day simple moving average is $29.32 and its 200-day simple moving average is $28.30. The firm has a market capitalization of $3.77 billion, a PE ratio of -21.92 and a beta of 0.64.

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

Institutional Trading of Viking Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the business. Allworth Financial LP increased its stake in shares of Viking Therapeutics by 58.4% in the second quarter. Allworth Financial LP now owns 955 shares of the biotechnology company's stock worth $25,000 after acquiring an additional 352 shares during the period. Glass Jacobson Investment Advisors llc acquired a new stake in shares of Viking Therapeutics in the second quarter worth $28,000. Elevation Point Wealth Partners LLC acquired a new stake in shares of Viking Therapeutics in the second quarter worth $29,000. Quarry LP increased its stake 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 worth $29,000 after acquiring an additional 1,135 shares during the period. Finally, Parallel Advisors LLC increased its stake in shares of Viking Therapeutics by 33.4% in the second quarter. Parallel Advisors LLC now owns 1,818 shares of the biotechnology company's stock worth $48,000 after acquiring an additional 455 shares during the period. Institutional investors and hedge funds own 76.03% of the company's stock.

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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