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

Viking Therapeutics, Inc. (NASDAQ:VKTX) gapped down before the market opened on Thursday . The stock had previously closed at $23.60, but opened at $22.04. Viking Therapeutics shares last traded at $22.75, with a volume of 1,396,744 shares traded.

Analyst Ratings Changes

A number of analysts recently weighed in on VKTX shares. The Goldman Sachs Group began coverage on Viking Therapeutics in a research note on Tuesday, April 8th. They issued a “neutral” rating and a $30.00 price target on the stock. HC Wainwright reiterated a “buy” rating and issued a $102.00 price target on shares of Viking Therapeutics in a report on Wednesday, March 26th. Piper Sandler decreased their price objective on shares of Viking Therapeutics from $74.00 to $71.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. Raymond James increased their target price on shares of Viking Therapeutics from $122.00 to $125.00 and gave the company a “strong-buy” rating in a report on Thursday, February 6th. Finally, Scotiabank began coverage on Viking Therapeutics in a research note on Thursday, February 13th. They issued a “sector outperform” rating and a $102.00 price objective for the company. One investment analyst has rated the stock with a sell rating, two have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $89.75.

Viking Therapeutics Price Performance

The company’s 50-day moving average is $27.19 and its 200-day moving average is $42.54. The firm has a market capitalization of $2.63 billion, a price-to-earnings ratio of -23.50 and a beta of 0.84.

Viking Therapeutics (NASDAQ:VKTX) last announced its quarterly earnings results on Wednesday, February 5th. The biotechnology company reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.05). During the same quarter in the prior year, the business posted ($0.25) EPS. Sell-side analysts anticipate that Viking Therapeutics, Inc. will post -1.56 earnings per share for the current year.

Insider Transactions at Viking Therapeutics

In other Viking Therapeutics news, Director Sarah Kathryn Rouan purchased 1,240 shares of the business’s stock in a transaction that occurred on Monday, March 31st. The shares were purchased at an average price of $24.15 per share, for a total transaction of $29,946.00. Following the completion of the acquisition, the director now owns 1,240 shares of the company’s stock, valued at approximately $29,946. This represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 4.70% of the company’s stock.

Hedge Funds Weigh In On Viking Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the business. FMR LLC lifted its stake in shares of Viking Therapeutics by 0.6% during the fourth quarter. FMR LLC now owns 16,715,438 shares of the biotechnology company’s stock worth $672,629,000 after purchasing an additional 96,008 shares in the last quarter. Geode Capital Management LLC grew its position in Viking Therapeutics by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 1,880,713 shares of the biotechnology company’s stock valued at $75,704,000 after acquiring an additional 17,046 shares in the last quarter. Braidwell LP raised its stake in shares of Viking Therapeutics by 27.9% during the fourth quarter. Braidwell LP now owns 1,479,666 shares of the biotechnology company’s stock valued at $59,542,000 after purchasing an additional 322,689 shares during the period. Ameriprise Financial Inc. boosted its stake in shares of Viking Therapeutics by 228.5% in the fourth quarter. Ameriprise Financial Inc. now owns 1,479,596 shares of the biotechnology company’s stock valued at $59,540,000 after purchasing an additional 1,029,125 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its holdings in Viking Therapeutics by 446.7% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,357,241 shares of the biotechnology company’s stock valued at $54,615,000 after purchasing an additional 1,108,972 shares in the last quarter. Institutional investors and hedge funds own 76.03% of the company’s stock.

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.