Viking Therapeutics (NASDAQ:VKTX) Stock Price Up 7.1% – Here’s What Happened

Shares of Viking Therapeutics, Inc. (NASDAQ:VKTX) were up 7.1% during mid-day trading on Tuesday . The company traded as high as $29.24 and last traded at $29.53. Approximately 877,377 shares were traded during mid-day trading, a decline of 78% from the average daily volume of 4,031,962 shares. The stock had previously closed at $27.57.

Wall Street Analysts Forecast Growth

Several brokerages have commented on VKTX. Scotiabank began coverage on shares of Viking Therapeutics in a research note on Thursday, February 13th. They issued a “sector outperform” rating and a $102.00 price target on the stock. Morgan Stanley dropped their price objective on Viking Therapeutics from $105.00 to $102.00 and set an “overweight” rating on the stock in a research note on Thursday, April 24th. HC Wainwright restated a “buy” rating and set a $102.00 price objective on shares of Viking Therapeutics in a research note on Thursday, April 24th. The Goldman Sachs Group began coverage on shares of Viking Therapeutics in a report on Tuesday, April 8th. They set a “neutral” rating and a $30.00 price objective on the stock. Finally, Truist Financial reiterated a “buy” rating and issued a $75.00 target price (down previously from $95.00) on shares of Viking Therapeutics in a research report on Monday, April 28th. One analyst has rated the stock with a sell rating, two have given a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Viking Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $87.15.

Viking Therapeutics Stock Performance

The stock’s fifty day moving average is $26.19 and its two-hundred day moving average is $32.53. The firm has a market capitalization of $3.25 billion, a price-to-earnings ratio of -28.95 and a beta of 0.65.

Viking Therapeutics (NASDAQ:VKTX) last issued its earnings results on Wednesday, April 23rd. The biotechnology company reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.31) by ($0.10). During the same period in the prior year, the business posted ($0.26) earnings per share. The company’s revenue was up .0% on a year-over-year basis. Sell-side analysts anticipate that Viking Therapeutics, Inc. will post -1.56 earnings per share for the current year.

Insider Buying and Selling at Viking Therapeutics

In other Viking Therapeutics news, Director Sarah Kathryn Rouan bought 1,240 shares of the stock in a transaction on Monday, March 31st. The shares were bought at an average price of $24.15 per share, with a total value of $29,946.00. Following the purchase, the director now directly owns 1,240 shares in the company, valued at $29,946. The trade was a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 4.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Viking Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of VKTX. Virtu Financial LLC acquired a new position in shares of Viking Therapeutics in the 4th quarter valued at $1,715,000. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Viking Therapeutics in the 4th quarter valued at about $528,000. Van ECK Associates Corp lifted its stake in shares of Viking Therapeutics by 58.0% in the 4th quarter. Van ECK Associates Corp now owns 14,911 shares of the biotechnology company’s stock valued at $600,000 after purchasing an additional 5,475 shares during the period. Blue Trust Inc. lifted its stake in Viking Therapeutics by 363.1% in the fourth quarter. Blue Trust Inc. now owns 1,885 shares of the biotechnology company’s stock valued at $76,000 after buying an additional 1,478 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Viking Therapeutics during the 4th quarter worth approximately $429,000. 76.03% of the stock is currently owned by institutional investors and hedge funds.

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.