Viking Therapeutics (NASDAQ:VKTX) Shares Up 5.2% – Here’s Why

Shares of Viking Therapeutics, Inc. (NASDAQ:VKTX) shot up 5.2% on Friday. The stock traded as high as $28.88 and last traded at $29.0010. Approximately 1,871,239 shares were traded during mid-day trading, a decline of 43% from the average session volume of 3,295,865 shares. The stock had previously closed at $27.58.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Barclays raised Viking Therapeutics to a “strong-buy” rating in a report on Tuesday, October 13th. Oppenheimer set a $120.00 price target on Viking Therapeutics in a research note on Tuesday, September 22nd. Zacks Research raised Viking Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 18th. JPMorgan Chase & Co. lowered their price target on Viking Therapeutics from $75.00 to $65.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 11th. Finally, Canaccord Genuity Group increased their price objective on Viking Therapeutics from $106.00 to $118.00 and gave the stock a “buy” rating in a research note on Friday, October 30th. Two equities research 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. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $93.36.

Viking Therapeutics Stock Up 5.9%

The stock has a market capitalization of $3.72 billion, a P/E ratio of -5.44 and a beta of 0.79. The firm’s fifty day moving average is $29.42 and its 200-day moving average is $32.18. The company has a current ratio of 7.27, a quick ratio of 7.27 and a debt-to-equity ratio of 0.43.

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

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Ameritas Advisory Services LLC acquired a new stake in Viking Therapeutics during the 2nd quarter valued at $32,000. Rothschild Investment LLC boosted its stake in Viking Therapeutics by 1,655.8% in the third quarter. Rothschild Investment LLC now owns 913 shares of the biotechnology company’s stock worth $30,000 after purchasing an additional 861 shares in the last quarter. Ballast Advisors LLC acquired a new position in Viking Therapeutics in the first quarter worth $33,000. Edmond DE Rothschild Holding S.A. acquired a new position in Viking Therapeutics in the third quarter worth $33,000. Finally, Root Financial Partners LLC bought a new stake in shares of Viking Therapeutics during the third quarter worth $34,000. Institutional investors own 76.03% of the company’s stock.

Viking Therapeutics Company Profile

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.