Traders Purchase High Volume of Viking Therapeutics Call Options (NASDAQ:VKTX)

Viking Therapeutics, Inc. (NASDAQ:VKTX) was the target of some unusual options trading activity on Friday. Stock investors purchased 51,718 call options on the company. This is an increase of approximately 193% compared to the average volume of 17,647 call options.

Viking Therapeutics Price Performance

NASDAQ VKTX traded up $1.70 on Friday, reaching $29.28. 5,711,427 shares of the company’s stock traded hands, compared to its average volume of 3,316,804. The stock has a market cap of $3.73 billion, a PE ratio of -5.42 and a beta of 0.79. The company has a debt-to-equity ratio of 0.43, a current ratio of 7.27 and a quick ratio of 7.27. Viking Therapeutics has a 12 month low of $23.82 and a 12 month high of $43.10. The stock has a 50-day simple moving average of $29.42 and a 200 day simple moving average of $32.18.

Viking Therapeutics (NASDAQ:VKTX) last released its earnings results on Wednesday, October 28th. The biotechnology company reported ($1.55) EPS for the quarter, missing the consensus estimate of ($1.06) by ($0.49). During the same quarter in the prior year, the company earned ($0.81) EPS. As a group, research analysts predict that Viking Therapeutics will post -5.26 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. BlackRock Inc. purchased a new stake in shares of Viking Therapeutics in the 2nd quarter worth about $241,458,000. ADAR1 Capital Management LLC purchased a new stake in Viking Therapeutics in the second quarter worth about $22,393,000. Dimensional Fund Advisors LP lifted its holdings in Viking Therapeutics by 18.0% in the first quarter. Dimensional Fund Advisors LP now owns 542,516 shares of the biotechnology company’s stock worth $17,653,000 after buying an additional 82,941 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Viking Therapeutics in the second quarter worth about $20,699,000. Finally, Principal Financial Group Inc. boosted its position in Viking Therapeutics by 2.3% during the 1st quarter. Principal Financial Group Inc. now owns 525,484 shares of the biotechnology company’s stock valued at $17,099,000 after acquiring an additional 11,753 shares in the last quarter. Hedge funds and other institutional investors own 76.03% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Viking Therapeutics in a research report on Thursday, October 15th. Morgan Stanley reissued an “overweight” rating on shares of Viking Therapeutics in a research note on Tuesday, September 22nd. JPMorgan Chase & Co. reduced their target price on Viking Therapeutics from $75.00 to $65.00 and set an “overweight” rating for the company in a research report on Tuesday, August 11th. Truist Financial decreased their target price on Viking Therapeutics from $87.00 to $85.00 and set a “buy” rating on the stock in a research note on Wednesday, October 7th. Finally, UBS Group initiated coverage on Viking Therapeutics in a report on Wednesday, October 14th. They issued a “buy” rating and a $94.00 price target on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $93.36.

About Viking Therapeutics

Viking Therapeutics, Inc. is a clinical-stage biopharmaceutical company based in San Diego, California. Founded in 2012, it develops medicines for metabolic and endocrine disorders and does not have commercially marketed products. The company’s pipeline includes VK2735, an investigational drug that targets the GLP-1 and GIP receptors and is being developed for obesity, and VK2809, a thyroid hormone receptor beta agonist being studied for metabolic and liver conditions. Viking is also developing VK0214 for X-linked adrenoleukodystrophy, a rare genetic disorder.