Viking Therapeutics (NASDAQ:VKTX) Trading 1.6% Higher Following Earnings Beat

Shares of Viking Therapeutics, Inc. (NASDAQ:VKTX) were up 1.6% during mid-day trading on Thursday after the company announced better than expected quarterly earnings. The company traded as high as $69.17 and last traded at $66.14. Approximately 1,593,187 shares traded hands during mid-day trading, a decline of 72% from the average daily volume of 5,598,100 shares. The stock had previously closed at $65.07.

The biotechnology company reported ($0.26) EPS for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.01. During the same period in the prior year, the company posted ($0.25) EPS.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Truist Financial lifted their target price 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 restated a “buy” rating and set a $90.00 price objective on shares of Viking Therapeutics in a research note on Thursday. Stifel Nicolaus reiterated a “buy” rating and issued a $80.00 target price on shares of Viking Therapeutics in a research note on Friday, March 15th. Jefferies Financial Group started coverage on shares of Viking Therapeutics in a research report on Thursday, March 7th. They set a “buy” rating and a $110.00 price target for the company. Finally, Raymond James lifted their price objective on shares of Viking Therapeutics from $37.00 to $115.00 and gave the company an “outperform” rating in a research report on Tuesday, February 27th. One analyst has rated the stock with a sell rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $112.25.

Insider Buying and Selling

In related news, CEO Brian Lian sold 269,079 shares of the stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $26.87, for a total value of $7,230,152.73. Following the completion of the transaction, the chief executive officer now owns 2,184,882 shares in the company, valued at approximately $58,707,779.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Sarah Kathryn Rouan sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $28.05, for a total transaction of $701,250.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Brian Lian sold 269,079 shares of the stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $26.87, for a total value of $7,230,152.73. Following the transaction, the chief executive officer now directly owns 2,184,882 shares of the company’s stock, valued at $58,707,779.34. The disclosure for this sale can be found here. Insiders sold 329,079 shares of company stock valued at $8,769,653 over the last 90 days. 4.70% of the stock is currently owned by company insiders.

Institutional Trading of Viking Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of VKTX. Massmutual Trust Co. FSB ADV acquired a new position in Viking Therapeutics during the first quarter worth about $25,000. Lindbrook Capital LLC grew its stake in shares of Viking Therapeutics by 370.7% in the 1st quarter. Lindbrook Capital LLC now owns 353 shares of the biotechnology company’s stock worth $29,000 after purchasing an additional 278 shares during the last quarter. Wetzel Investment Advisors Inc. bought a new stake in shares of Viking Therapeutics in the 4th quarter worth approximately $37,000. LifeSteps Financial Inc. acquired a new stake in Viking Therapeutics during the first quarter valued at approximately $37,000. Finally, Spire Wealth Management bought a new stake in Viking Therapeutics during the first quarter worth approximately $61,000. Institutional investors own 76.03% of the company’s stock.

Viking Therapeutics Stock Up 7.9 %

The stock has a market cap of $8.19 billion, a price-to-earnings ratio of -79.90 and a beta of 1.05. The company’s 50-day simple moving average is $68.35 and its 200-day simple moving average is $34.79.

Viking Therapeutics Company Profile

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.