Viking Therapeutics (NASDAQ:VKTX) Shares Up 7.1% - What's Next?

Viking Therapeutics, Inc. (NASDAQ:VKTX - Get Free Report) shares rose 7.1% on Tuesday . The stock traded as high as $29.24 and last traded at $29.53. Approximately 877,377 shares changed hands during trading, a decline of 78% from the average daily volume of 4,031,962 shares. The stock had previously closed at $27.57.

Wall Street Analysts Forecast Growth

VKTX has been the topic of several recent analyst reports. Cantor Fitzgerald upgraded shares of Viking Therapeutics to a "strong-buy" rating in a research report on Tuesday, April 29th. Truist Financial reiterated a "buy" rating and set a $75.00 price objective (down previously from $95.00) on shares of Viking Therapeutics in a report on Monday, April 28th. Scotiabank started coverage on shares of Viking Therapeutics in a report on Thursday, February 13th. They issued a "sector outperform" rating and a $102.00 price target for the company. Morgan Stanley dropped their target price on shares of Viking Therapeutics from $105.00 to $102.00 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. Finally, The Goldman Sachs Group began coverage on shares of Viking Therapeutics in a report on Tuesday, April 8th. They set a "neutral" rating and a $30.00 price target on the stock. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Viking Therapeutics presently has an average rating of "Moderate Buy" and a consensus price target of $87.15.

Viking Therapeutics Price Performance

The stock has a market cap of $3.25 billion, a price-to-earnings ratio of -28.95 and a beta of 0.65. The firm has a 50 day simple moving average of $26.19 and a two-hundred day simple moving average of $32.53.

Viking Therapeutics (NASDAQ:VKTX - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The biotechnology company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.31) by ($0.10). During the same quarter in the prior year, the business earned ($0.26) earnings per share. Viking Therapeutics's revenue was up .0% on a year-over-year basis. On average, sell-side analysts expect that Viking Therapeutics, Inc. will post -1.56 earnings per share for the current fiscal year.

Insider Buying and Selling at Viking Therapeutics

In related news, Director Sarah Kathryn Rouan acquired 1,240 shares of the stock in a transaction dated Monday, March 31st. The stock was purchased at an average cost of $24.15 per share, with a total value of $29,946.00. Following the completion of the purchase, the director now directly owns 1,240 shares in the company, valued at $29,946. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 4.10% of the company's stock.

Institutional Investors Weigh In On Viking Therapeutics

Several institutional investors have recently made changes to their positions in the stock. Virtu Financial LLC bought a new position in shares of Viking Therapeutics during the fourth quarter valued at about $1,715,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Viking Therapeutics in the 4th quarter worth approximately $528,000. Van ECK Associates Corp lifted its position in Viking Therapeutics by 58.0% in the 4th quarter. Van ECK Associates Corp now owns 14,911 shares of the biotechnology company's stock valued at $600,000 after acquiring an additional 5,475 shares in the last quarter. Blue Trust Inc. lifted its position in Viking Therapeutics by 363.1% in the 4th quarter. Blue Trust Inc. now owns 1,885 shares of the biotechnology company's stock valued at $76,000 after acquiring an additional 1,478 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Viking Therapeutics in the 4th quarter valued at approximately $429,000. Hedge funds and other institutional investors own 76.03% of the company's stock.

About Viking Therapeutics

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.