Viking Therapeutics (NASDAQ:VKTX) Trading Up 0.6% – Here’s Why

Viking Therapeutics, Inc. (NASDAQ:VKTX) shares rose 0.6% during trading on Wednesday . The company traded as high as $48.79 and last traded at $48.15. Approximately 559,513 shares were traded during mid-day trading, a decline of 87% from the average daily volume of 4,447,740 shares. The stock had previously closed at $47.85.

Wall Street Analysts Forecast Growth

VKTX has been the subject of a number of research reports. Oppenheimer reiterated an “outperform” rating and issued a $138.00 price target on shares of Viking Therapeutics in a research note on Wednesday, September 25th. StockNews.com upgraded Viking Therapeutics to a “sell” rating in a report on Tuesday, October 15th. B. Riley began coverage on Viking Therapeutics in a report on Friday, November 22nd. They issued a “buy” rating and a $109.00 price objective for the company. William Blair restated an “outperform” rating on shares of Viking Therapeutics in a report on Wednesday, November 20th. Finally, Morgan Stanley restated an “overweight” rating and issued a $105.00 price objective on shares of Viking Therapeutics in a report on Thursday, September 12th. One equities research analyst has rated the stock with a sell rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Viking Therapeutics currently has an average rating of “Buy” and a consensus price target of $106.75.

Viking Therapeutics Trading Up 2.6 %

The company has a market cap of $5.47 billion, a P/E ratio of -51.77 and a beta of 0.89. The stock’s 50-day moving average price is $60.67 and its 200-day moving average price is $58.75.

Viking Therapeutics (NASDAQ:VKTX) last released its quarterly earnings data on Wednesday, October 23rd. The biotechnology company reported ($0.22) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.02. During the same quarter in the prior year, the firm posted ($0.23) EPS. On average, research analysts anticipate that Viking Therapeutics, Inc. will post -0.97 earnings per share for the current fiscal year.

Insider Transactions at Viking Therapeutics

In related news, Director Sarah Kathryn Rouan sold 11,000 shares of the firm’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $80.89, for a total value of $889,790.00. Following the transaction, the director now owns 9,500 shares of the company’s stock, valued at approximately $768,455. This trade represents a 53.66 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director J Matthew Singleton sold 10,300 shares of the firm’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $69.50, for a total transaction of $715,850.00. Following the completion of the transaction, the director now directly owns 9,500 shares in the company, valued at approximately $660,250. The trade was a 52.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 371,117 shares of company stock valued at $27,140,009 in the last 90 days. 4.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Viking Therapeutics

Hedge funds have recently modified their holdings of the company. Oak Ridge Investments LLC bought a new position in shares of Viking Therapeutics during the 3rd quarter worth approximately $837,000. Oppenheimer & Co. Inc. lifted its position in shares of Viking Therapeutics by 43.5% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 102,324 shares of the biotechnology company’s stock worth $6,478,000 after buying an additional 31,011 shares in the last quarter. Nvwm LLC bought a new position in shares of Viking Therapeutics during the 3rd quarter worth approximately $999,000. Chartwell Investment Partners LLC lifted its position in shares of Viking Therapeutics by 88.0% during the 3rd quarter. Chartwell Investment Partners LLC now owns 36,666 shares of the biotechnology company’s stock worth $2,322,000 after buying an additional 17,159 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Viking Therapeutics by 6.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 715,597 shares of the biotechnology company’s stock worth $45,304,000 after purchasing an additional 44,122 shares during the last quarter. Institutional investors own 76.03% of the company’s stock.

About Viking Therapeutics

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.