Viking Therapeutics (NASDAQ:VKTX) Trading Up 7.1% – Time to Buy?

Viking Therapeutics, Inc. (NASDAQ:VKTX) shot up 7.1% on Tuesday . The stock traded as high as $29.24 and last traded at $29.53. 877,377 shares changed hands during mid-day trading, a decline of 78% from the average session volume of 4,031,962 shares. The stock had previously closed at $27.57.

Analysts Set New Price Targets

VKTX has been the topic of a number of analyst reports. HC Wainwright reiterated a “buy” rating and set a $102.00 price objective on shares of Viking Therapeutics in a research note on Thursday, April 24th. Cantor Fitzgerald upgraded Viking Therapeutics to a “strong-buy” rating in a research report on Tuesday, April 29th. The Goldman Sachs Group began coverage on shares of Viking Therapeutics in a research report on Tuesday, April 8th. They issued a “neutral” rating and a $30.00 price objective for the company. Morgan Stanley decreased their target price on shares of Viking Therapeutics from $105.00 to $102.00 and set an “overweight” rating on the stock in a report on Thursday, April 24th. Finally, Truist Financial restated a “buy” rating and set a $75.00 price target (down from $95.00) on shares of Viking Therapeutics in a research report on Monday, April 28th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $87.15.

Viking Therapeutics Stock Up 7.2%

The stock has a 50-day simple moving average of $25.97 and a two-hundred day simple moving average of $32.58. The firm has a market cap of $3.32 billion, a PE ratio of -29.40 and a beta of 0.65.

Viking Therapeutics (NASDAQ:VKTX) last released its earnings results on Wednesday, April 23rd. The biotechnology company reported ($0.41) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.10). During the same period in the prior year, the company posted ($0.26) earnings per share. The company’s revenue was up .0% compared to the same quarter last year. Research analysts expect that Viking Therapeutics, Inc. will post -1.56 earnings per share for the current year.

Insider Activity at Viking Therapeutics

In related news, Director Sarah Kathryn Rouan acquired 1,240 shares of the stock in a transaction on Monday, March 31st. The stock was purchased at an average price of $24.15 per share, for a total transaction of $29,946.00. Following the completion of the transaction, the director now owns 1,240 shares of the company’s stock, valued at $29,946. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 4.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Viking Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Blue Trust Inc. increased its position in shares of Viking Therapeutics by 75.9% in the fourth quarter. Blue Trust Inc. now owns 716 shares of the biotechnology company’s stock valued at $29,000 after acquiring an additional 309 shares during the period. FIL Ltd grew its stake in shares of Viking Therapeutics by 116.8% in the fourth quarter. FIL Ltd now owns 1,203 shares of the biotechnology company’s stock worth $48,000 after purchasing an additional 648 shares during the last quarter. Quarry LP increased its holdings in Viking Therapeutics by 1,621.4% during the 1st quarter. Quarry LP now owns 1,205 shares of the biotechnology company’s stock valued at $29,000 after purchasing an additional 1,135 shares during the period. CIBC Private Wealth Group LLC raised its position in Viking Therapeutics by 170.2% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,351 shares of the biotechnology company’s stock valued at $55,000 after purchasing an additional 851 shares during the last quarter. Finally, Parallel Advisors LLC lifted its holdings in Viking Therapeutics by 64.8% in the 1st quarter. Parallel Advisors LLC now owns 1,363 shares of the biotechnology company’s stock worth $33,000 after buying an additional 536 shares during the period. 76.03% of the stock is currently owned by 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.