Viking Therapeutics (NASDAQ:VKTX) Trading 8.3% Higher – Should You Buy?

Viking Therapeutics, Inc. (NASDAQ:VKTX)’s stock price shot up 8.3% on Wednesday . The stock traded as high as $33.25 and last traded at $33.2310. 1,749,730 shares were traded during mid-day trading, a decline of 52% from the average session volume of 3,659,647 shares. The stock had previously closed at $30.69.

Analyst Ratings Changes

A number of research analysts have weighed in on VKTX shares. B. Riley raised shares of Viking Therapeutics to a “strong-buy” rating in a research note on Thursday, October 23rd. HC Wainwright reiterated a “buy” rating and set a $102.00 price objective on shares of Viking Therapeutics in a research report on Monday, September 29th. Cantor Fitzgerald set a $105.00 target price on Viking Therapeutics in a report on Thursday, October 23rd. BTIG Research reaffirmed a “buy” rating and issued a $125.00 target price on shares of Viking Therapeutics in a research note on Monday, September 22nd. Finally, JPMorgan Chase & Co. lowered their price target on shares of Viking Therapeutics from $80.00 to $75.00 and set an “overweight” rating on the stock in a research report on Friday, October 24th. Three investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Viking Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $87.14.

Viking Therapeutics Price Performance

The business has a 50 day simple moving average of $35.91 and a 200 day simple moving average of $32.58. The company has a market capitalization of $3.98 billion, a price-to-earnings ratio of -16.61 and a beta of 0.71.

Viking Therapeutics (NASDAQ:VKTX) last posted its quarterly earnings data on Wednesday, October 22nd. The biotechnology company reported ($0.81) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.67) by ($0.14). The business’s quarterly revenue was up .0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.22) earnings per share. On average, equities research analysts predict that Viking Therapeutics, Inc. will post -1.56 EPS for the current year.

Insider Buying and Selling at Viking Therapeutics

In other Viking Therapeutics news, CFO Greg Zante sold 57,661 shares of the company’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $32.90, for a total transaction of $1,897,046.90. Following the sale, the chief financial officer owned 189,891 shares in the company, valued at $6,247,413.90. This represents a 23.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Brian Lian sold 233,409 shares of Viking Therapeutics stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $32.96, for a total value of $7,693,160.64. Following the completion of the transaction, the chief executive officer owned 2,499,291 shares of the company’s stock, valued at $82,376,631.36. The trade was a 8.54% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 476,090 shares of company stock valued at $15,985,782. Insiders own 4.10% of the company’s stock.

Institutional Trading of Viking Therapeutics

Several hedge funds have recently added to or reduced their stakes in the company. Ameriprise Financial Inc. increased its position in shares of Viking Therapeutics by 41.8% in 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 during the last quarter. Two Sigma Investments LP grew its stake in shares of Viking Therapeutics by 58.7% during the third quarter. Two Sigma Investments LP now owns 2,085,487 shares of the biotechnology company’s stock worth $54,807,000 after purchasing an additional 771,704 shares in the last quarter. Norges Bank purchased a new position in Viking Therapeutics in the second quarter valued at $46,846,000. Raymond James Financial Inc. increased its holdings in Viking Therapeutics by 16.1% in the third quarter. Raymond James Financial Inc. now owns 954,272 shares of the biotechnology company’s stock valued at $25,078,000 after buying an additional 131,994 shares during the last quarter. Finally, Frontier Capital Management Co. LLC raised its stake in Viking Therapeutics by 52.8% in the second quarter. Frontier Capital Management Co. LLC now owns 638,204 shares of the biotechnology company’s stock valued at $16,912,000 after buying an additional 220,396 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 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.