Viking Therapeutics (NASDAQ:VKTX) Shares Gap Up – What’s Next?

Viking Therapeutics, Inc. (NASDAQ:VKTX)’s share price gapped up prior to trading on Monday . The stock had previously closed at $31.03, but opened at $32.60. Viking Therapeutics shares last traded at $34.2180, with a volume of 1,886,955 shares.

Analysts Set New Price Targets

A number of equities analysts have issued reports on VKTX shares. Weiss Ratings restated a “sell (d-)” rating on shares of Viking Therapeutics in a research report on Wednesday, January 21st. Canaccord Genuity Group raised their target price on Viking Therapeutics from $106.00 to $107.00 and gave the stock a “buy” rating in a research note on Wednesday, November 12th. Morgan Stanley reaffirmed an “overweight” rating and set a $99.00 price target on shares of Viking Therapeutics in a research report on Thursday, February 12th. Finally, Zacks Research upgraded Viking Therapeutics from a “strong sell” rating to a “hold” rating in a report on Wednesday, February 18th. Three analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $87.80.

Viking Therapeutics Stock Up 11.1%

The company’s fifty day simple moving average is $32.43 and its 200 day simple moving average is $32.48. The firm has a market capitalization of $3.98 billion, a PE ratio of -10.75 and a beta of 0.76.

Viking Therapeutics (NASDAQ:VKTX) last posted its earnings results on Wednesday, February 11th. The biotechnology company reported ($1.38) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.49). During the same period in the previous year, the firm posted ($0.32) earnings per share. Equities research analysts forecast that Viking Therapeutics, Inc. will post -1.56 EPS for the current year.

Insider Transactions at Viking Therapeutics

In other Viking Therapeutics news, CEO Brian Lian sold 233,409 shares of Viking Therapeutics stock in a transaction on Monday, January 5th. The stock was sold at an average price of $32.96, for a total transaction of $7,693,160.64. Following the completion of the transaction, the chief executive officer owned 2,499,291 shares in the company, valued at approximately $82,376,631.36. The trade was a 8.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Greg Zante sold 57,661 shares of the company’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $32.90, for a total value of $1,897,046.90. Following the completion of the transaction, the chief financial officer directly owned 189,891 shares in the company, valued at $6,247,413.90. This trade represents a 23.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 364,731 shares of company stock valued at $12,053,627 in the last three months. Company insiders own 4.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Norges Bank purchased a new position in Viking Therapeutics in the 2nd quarter worth about $46,846,000. BNP Paribas Financial Markets grew its stake in shares of Viking Therapeutics by 536.3% in the fourth quarter. BNP Paribas Financial Markets now owns 992,695 shares of the biotechnology company’s stock worth $34,923,000 after acquiring an additional 836,686 shares during the period. Two Sigma Investments LP raised its holdings in shares of Viking Therapeutics by 58.7% during the third quarter. Two Sigma Investments LP now owns 2,085,487 shares of the biotechnology company’s stock valued at $54,807,000 after purchasing an additional 771,704 shares during the last quarter. Ameriprise Financial Inc. lifted its position in Viking Therapeutics by 41.8% during the third quarter. Ameriprise Financial Inc. now owns 2,092,840 shares of the biotechnology company’s stock valued at $55,000,000 after purchasing an additional 616,526 shares during the period. Finally, Cubist Systematic Strategies LLC lifted its position in Viking Therapeutics by 6,315.6% during the second quarter. Cubist Systematic Strategies LLC now owns 596,650 shares of the biotechnology company’s stock valued at $15,811,000 after purchasing an additional 587,350 shares during the period. 76.03% of the stock is owned by institutional investors.

Viking Therapeutics Company Profile

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.