Viking Therapeutics (NASDAQ:VKTX) Trading Up 8.2% – What’s Next?

Shares of Viking Therapeutics, Inc. (NASDAQ:VKTX) shot up 8.2% on Tuesday . The company traded as high as $34.20 and last traded at $35.0390. Approximately 422,256 shares traded hands during trading, a decline of 84% from the average daily volume of 2,593,332 shares. The stock had previously closed at $32.37.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on VKTX shares. Morgan Stanley set a $95.00 target price on Viking Therapeutics in a research report on Thursday, April 30th. Weiss Ratings restated a “sell (d-)” rating on shares of Viking Therapeutics in a research report on Monday, April 20th. BTIG Research reaffirmed a “buy” rating and issued a $125.00 price target on shares of Viking Therapeutics in a research note on Friday, May 1st. Truist Financial began coverage on Viking Therapeutics in a report on Wednesday, May 27th. They issued a “buy” rating and a $83.00 price objective for the company. Finally, Lake Street Capital started coverage on Viking Therapeutics in a research report on Thursday, May 28th. They set a “buy” rating and a $89.00 price objective for the company. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $93.60.

Viking Therapeutics Trading Up 9.2%

The company has a market cap of $4.11 billion, a PE ratio of -8.49 and a beta of 0.69. The firm has a 50 day moving average of $31.44 and a two-hundred day moving average of $32.64.

Viking Therapeutics (NASDAQ:VKTX) last posted its quarterly earnings data on Thursday, April 30th. The biotechnology company reported ($1.37) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.01) by ($0.36). During the same quarter in the prior year, the company earned ($0.41) earnings per share. On average, research analysts forecast that Viking Therapeutics, Inc. will post -4.7 EPS for the current year.

Hedge Funds Weigh In On Viking Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of VKTX. BNP Paribas Financial Markets raised its position in shares of Viking Therapeutics by 536.3% in the 4th quarter. BNP Paribas Financial Markets now owns 992,695 shares of the biotechnology company’s stock worth $34,923,000 after purchasing an additional 836,686 shares during the last quarter. Two Sigma Investments LP increased its stake in Viking Therapeutics by 58.7% during the 3rd quarter. Two Sigma Investments LP now owns 2,085,487 shares of the biotechnology company’s stock valued at $54,807,000 after purchasing an additional 771,704 shares in the last quarter. Ameriprise Financial Inc. increased its stake in Viking Therapeutics by 41.8% during the 3rd quarter. Ameriprise Financial Inc. now owns 2,092,840 shares of the biotechnology company’s stock valued at $55,000,000 after purchasing an additional 616,526 shares in the last quarter. Cubist Systematic Strategies LLC raised its holdings in Viking Therapeutics by 6,315.6% in the second quarter. Cubist Systematic Strategies LLC now owns 596,650 shares of the biotechnology company’s stock worth $15,811,000 after buying an additional 587,350 shares during the last quarter. Finally, Artia Global Partners LP raised its holdings in Viking Therapeutics by 392.1% in the fourth quarter. Artia Global Partners LP now owns 719,365 shares of the biotechnology company’s stock worth $25,307,000 after buying an additional 573,186 shares during the last quarter. 76.03% of the stock is currently owned by institutional investors.

About Viking Therapeutics

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.