Viking Therapeutics (NASDAQ:VKTX) Trading Up 7% – Should You Buy?

Viking Therapeutics, Inc. (NASDAQ:VKTX) traded up 7% on Tuesday . The stock traded as high as $41.30 and last traded at $41.4070. Approximately 1,254,491 shares traded hands during mid-day trading, a decline of 53% from the average daily volume of 2,680,370 shares. The stock had previously closed at $38.71.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on VKTX. BTIG Research reissued a “buy” rating and set a $125.00 price objective on shares of Viking Therapeutics in a report on Friday, May 1st. Cantor Fitzgerald reduced their target price on Viking Therapeutics from $105.00 to $100.00 and set an “overweight” rating for the company in a report on Thursday, April 30th. Morgan Stanley set a $95.00 price target on Viking Therapeutics in a research report on Thursday, April 30th. Weiss Ratings reissued a “sell (d-)” rating on shares of Viking Therapeutics in a report on Monday, April 20th. Finally, Truist Financial started coverage on shares of Viking Therapeutics in a report on Wednesday, May 27th. They issued a “buy” rating and a $83.00 price target on the stock. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $93.60.

Viking Therapeutics Stock Up 6.3%

The firm has a market capitalization of $4.78 billion, a P/E ratio of -9.95 and a beta of 0.66. The firm’s 50-day simple moving average is $32.04 and its 200-day simple moving average is $32.69.

Viking Therapeutics (NASDAQ:VKTX) last issued its quarterly earnings results on Thursday, April 30th. The biotechnology company reported ($1.37) EPS for the quarter, missing analysts’ consensus estimates of ($1.01) by ($0.36). During the same period in the previous year, the company earned ($0.41) EPS. As a group, analysts expect that Viking Therapeutics, Inc. will post -4.7 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada boosted its holdings in shares of Viking Therapeutics by 13.0% in the 1st quarter. Royal Bank of Canada now owns 347,716 shares of the biotechnology company’s stock worth $8,396,000 after purchasing an additional 39,886 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new position in shares of Viking Therapeutics during the 1st quarter valued at about $230,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Viking Therapeutics by 1.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 470,028 shares of the biotechnology company’s stock valued at $11,351,000 after buying an additional 6,696 shares in the last quarter. Prudential Financial Inc. bought a new stake in Viking Therapeutics in the 2nd quarter worth approximately $196,000. Finally, Northwestern Mutual Wealth Management Co. lifted its position in Viking Therapeutics by 29.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,109 shares of the biotechnology company’s stock worth $56,000 after buying an additional 481 shares during the last quarter. Institutional investors own 76.03% of the company’s stock.

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.