Viking Therapeutics (NASDAQ:VKTX) Stock Price Passes Above 50-Day Moving Average Following Analyst Downgrade

Viking Therapeutics, Inc. (NASDAQ:VKTX) shares crossed above its fifty day moving average during trading on Tuesday after Truist Financial upgraded the stock to a strong-buy rating. The stock has a fifty day moving average of $33.51 and traded as high as $38.08. Viking Therapeutics shares last traded at $37.95, with a volume of 1,786,337 shares.

Several other equities research analysts also recently issued reports on VKTX. BTIG Research raised shares of Viking Therapeutics to a “strong-buy” rating in a research report on Thursday, February 26th. Wolfe Research assumed coverage on Viking Therapeutics in a research note on Thursday, March 26th. They set a “peer perform” rating on the stock. Zacks Research raised shares of Viking Therapeutics from a “strong sell” rating to a “hold” rating in a report on Wednesday, February 18th. HC Wainwright restated a “buy” rating and issued a $102.00 price target on shares of Viking Therapeutics in a research note on Monday, March 23rd. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Viking Therapeutics in a research report on Monday, April 20th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Viking Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $93.60.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Raleigh Capital Management Inc. increased its position in Viking Therapeutics by 58.0% during the 4th quarter. Raleigh Capital Management Inc. now owns 945 shares of the biotechnology company’s stock valued at $33,000 after purchasing an additional 347 shares during the period. Ballast Advisors LLC acquired a new position in Viking Therapeutics during the 1st quarter worth approximately $33,000. Quattro Advisors LLC bought a new position in shares of Viking Therapeutics in the 4th quarter worth $37,000. Fifth Third Bancorp lifted its stake in shares of Viking Therapeutics by 169.2% in the fourth quarter. Fifth Third Bancorp now owns 1,077 shares of the biotechnology company’s stock valued at $38,000 after buying an additional 677 shares in the last quarter. Finally, Lodestone Wealth Management LLC bought a new position in Viking Therapeutics in the 4th quarter valued at about $39,000. 76.03% of the stock is currently owned by institutional investors.

Viking Therapeutics Stock Down 5.1%

The company has a market cap of $4.11 billion, a PE ratio of -8.55 and a beta of 0.66. The company has a 50-day moving average of $33.62 and a 200-day moving average of $32.91.

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 quarter in the prior year, the firm earned ($0.41) earnings per share. As a group, equities analysts predict that Viking Therapeutics, Inc. will post -4.7 EPS for the current year.

Viking Therapeutics Company Profile

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.