Viking Therapeutics (NASDAQ:VKTX) Shares Up 3.6% – Still a Buy?

Viking Therapeutics, Inc. (NASDAQ:VKTX) rose 3.6% during trading on Tuesday . The stock traded as high as $66.37 and last traded at $65.25. Approximately 949,335 shares changed hands during mid-day trading, a decline of 78% from the average daily volume of 4,398,083 shares. The stock had previously closed at $63.01.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on VKTX. StockNews.com upgraded Viking Therapeutics to a “sell” rating in a research report on Tuesday, September 24th. JPMorgan Chase & Co. began coverage on shares of Viking Therapeutics in a report on Wednesday, September 11th. They set an “overweight” rating and a $80.00 target price on the stock. Morgan Stanley reiterated an “overweight” rating and issued a $105.00 target price on shares of Viking Therapeutics in a research note on Thursday, September 12th. Oppenheimer restated an “outperform” rating and set a $138.00 price target on shares of Viking Therapeutics in a research report on Wednesday, September 25th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $90.00 price target on shares of Viking Therapeutics in a report on Wednesday. One analyst has rated the stock with a sell rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Viking Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $108.60.

Viking Therapeutics Stock Up 0.3 %

The company has a market capitalization of $6.92 billion, a PE ratio of -67.35 and a beta of 1.00. The firm’s 50-day moving average is $61.06 and its 200-day moving average is $62.64.

Viking Therapeutics (NASDAQ:VKTX) last issued its quarterly earnings results on Wednesday, July 24th. The biotechnology company reported ($0.20) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.26) by $0.06. During the same period in the prior year, the business posted ($0.19) EPS. As a group, equities research analysts predict that Viking Therapeutics, Inc. will post -1 EPS for the current year.

Insider Activity

In other news, CEO Brian Lian sold 1,000 shares of Viking Therapeutics stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $69.90, for a total value of $69,900.00. Following the transaction, the chief executive officer now owns 2,354,927 shares in the company, valued at approximately $164,609,397.30. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Viking Therapeutics news, CEO Brian Lian sold 1,000 shares of the firm’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $69.90, for a total value of $69,900.00. Following the sale, the chief executive officer now owns 2,354,927 shares of the company’s stock, valued at $164,609,397.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Marianna Mancini sold 18,026 shares of the stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $57.13, for a total transaction of $1,029,825.38. Following the sale, the chief operating officer now owns 362,149 shares of the company’s stock, valued at approximately $20,689,572.37. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 516,671 shares of company stock valued at $33,810,813. Corporate insiders own 4.70% of the company’s stock.

Institutional Investors Weigh In On Viking Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. ADAR1 Capital Management LLC purchased a new stake in Viking Therapeutics in the fourth quarter worth about $4,730,000. Virtu Financial LLC grew its stake in Viking Therapeutics by 15.1% in the fourth quarter. Virtu Financial LLC now owns 29,394 shares of the biotechnology company’s stock worth $547,000 after purchasing an additional 3,866 shares during the period. Goldman Sachs Group Inc. raised its holdings in Viking Therapeutics by 88.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,119,885 shares of the biotechnology company’s stock worth $20,841,000 after purchasing an additional 525,296 shares in the last quarter. Vanguard Group Inc. lifted its position in Viking Therapeutics by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 5,381,904 shares of the biotechnology company’s stock valued at $100,157,000 after buying an additional 97,552 shares during the period. Finally, Los Angeles Capital Management LLC bought a new stake in shares of Viking Therapeutics during the 1st quarter valued at $976,000. 76.03% of the stock is owned by hedge funds and other institutional investors.

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.