Viking Therapeutics (NASDAQ:VKTX) Trading Up 8.2% – Should You Buy?

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

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on VKTX shares. HC Wainwright reaffirmed a “buy” rating and set a $102.00 target price on shares of Viking Therapeutics in a research report on Monday, March 23rd. Cantor Fitzgerald decreased their price objective on Viking Therapeutics from $105.00 to $100.00 and set an “overweight” rating for the company in a report on Thursday, April 30th. Wolfe Research assumed coverage on Viking Therapeutics in a report on Thursday, March 26th. They issued a “peer perform” rating for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Viking Therapeutics in a research note on Monday, April 20th. Finally, BTIG Research reiterated a “buy” rating and set a $125.00 target price on shares of Viking Therapeutics in a report on Friday, May 1st. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Viking Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $93.60.

Viking Therapeutics Price Performance

The firm has a market cap of $4.40 billion, a price-to-earnings ratio of -9.15 and a beta of 0.69. The firm has a fifty day simple moving average of $31.51 and a two-hundred day simple moving average of $32.63.

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

Institutional Investors Weigh In On Viking Therapeutics

Large investors have recently bought and sold shares of the company. Royal Fund Management LLC acquired a new stake in shares of Viking Therapeutics in the fourth quarter worth $1,518,000. Rafferty Asset Management LLC lifted its position in Viking Therapeutics by 26.6% during the third quarter. Rafferty Asset Management LLC now owns 199,387 shares of the biotechnology company’s stock valued at $5,240,000 after purchasing an additional 41,888 shares during the period. Baker BROS. Advisors LP purchased a new stake in Viking Therapeutics in the third quarter valued at $9,621,000. WINTON GROUP Ltd purchased a new stake in Viking Therapeutics in the third quarter valued at $1,805,000. Finally, Meadowbrook Wealth Management LLC acquired a new stake in Viking Therapeutics during the 4th quarter worth about $1,309,000. Hedge funds and other institutional investors own 76.03% of the company’s stock.

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.