Viking Therapeutics (NASDAQ:VKTX) Shares Up 2%

Viking Therapeutics, Inc. (NASDAQ:VKTXGet Free Report) shot up 2% on Wednesday . The company traded as high as $79.28 and last traded at $78.86. 695,202 shares were traded during mid-day trading, a decline of 89% from the average session volume of 6,382,853 shares. The stock had previously closed at $77.35.

Wall Street Analyst Weigh In

VKTX has been the subject of several analyst reports. Truist Financial raised their price objective on Viking Therapeutics from $32.00 to $120.00 and gave the company a “buy” rating in a research note on Thursday, February 29th. HC Wainwright reissued a “buy” rating and issued a $90.00 price target on shares of Viking Therapeutics in a research report on Tuesday, March 26th. William Blair reissued an “outperform” rating on shares of Viking Therapeutics in a research report on Friday, February 23rd. Oppenheimer boosted their target price on Viking Therapeutics from $116.00 to $138.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 26th. Finally, Raymond James boosted their target price on Viking Therapeutics from $37.00 to $115.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 27th. One analyst has rated the stock with a sell rating and ten have given a buy rating to the company. According to MarketBeat, Viking Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $112.25.

Check Out Our Latest Stock Analysis on VKTX

Viking Therapeutics Price Performance

The business has a fifty day simple moving average of $53.60 and a 200 day simple moving average of $28.22. The firm has a market cap of $7.90 billion, a price-to-earnings ratio of -85.72 and a beta of 1.05.

Viking Therapeutics (NASDAQ:VKTXGet Free Report) last announced its earnings results on Wednesday, February 7th. The biotechnology company reported ($0.25) EPS for the quarter, meeting analysts’ consensus estimates of ($0.25). During the same period last year, the firm posted ($0.26) EPS. On average, research analysts anticipate that Viking Therapeutics, Inc. will post -1.1 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Sarah Kathryn Rouan sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, January 19th. The stock was sold at an average price of $23.05, for a total value of $691,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Sarah Kathryn Rouan sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, January 19th. The stock was sold at an average price of $23.05, for a total value of $691,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Greg Zante sold 15,000 shares of the stock in a transaction that occurred on Thursday, January 4th. The stock was sold at an average price of $17.90, for a total value of $268,500.00. Following the completion of the transaction, the chief financial officer now owns 180,730 shares of the company’s stock, valued at $3,235,067. The disclosure for this sale can be found here. Insiders sold 374,079 shares of company stock worth $9,729,653 over the last ninety days. Corporate insiders own 4.40% of the company’s stock.

Institutional Investors Weigh In On Viking Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in VKTX. Rafferty Asset Management LLC grew its stake in shares of Viking Therapeutics by 63.6% during the 3rd quarter. Rafferty Asset Management LLC now owns 560,180 shares of the biotechnology company’s stock worth $6,201,000 after purchasing an additional 217,827 shares during the period. SG Americas Securities LLC lifted its holdings in shares of Viking Therapeutics by 924.4% during the 3rd quarter. SG Americas Securities LLC now owns 82,099 shares of the biotechnology company’s stock worth $909,000 after acquiring an additional 74,085 shares during the period. Aigen Investment Management LP acquired a new stake in Viking Therapeutics during the 3rd quarter worth approximately $148,000. Citigroup Inc. increased its position in Viking Therapeutics by 73.1% during the 3rd quarter. Citigroup Inc. now owns 359,585 shares of the biotechnology company’s stock worth $3,981,000 after purchasing an additional 151,826 shares in the last quarter. Finally, GSA Capital Partners LLP increased its position in Viking Therapeutics by 48.5% during the 3rd quarter. GSA Capital Partners LLP now owns 89,741 shares of the biotechnology company’s stock worth $993,000 after purchasing an additional 29,319 shares in the last quarter. Hedge funds and other institutional investors own 76.03% of the company’s stock.

Viking Therapeutics Company Profile

(Get Free Report)

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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