Viking Therapeutics, Inc. (NASDAQ:VKTX - Get Free Report)'s stock price hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $20.27 and last traded at $21.28, with a volume of 5677945 shares. The stock had previously closed at $22.62.
Analyst Upgrades and Downgrades
Several research analysts have recently issued reports on the company. B. Riley reaffirmed a "buy" rating and issued a $96.00 price objective (down previously from $109.00) on shares of Viking Therapeutics in a research note on Friday, February 7th. Piper Sandler decreased their price target on shares of Viking Therapeutics from $74.00 to $71.00 and set an "overweight" rating for the company in a research report on Thursday, February 6th. HC Wainwright reiterated a "buy" rating and set a $102.00 price target on shares of Viking Therapeutics in a report on Wednesday, March 26th. Maxim Group decreased their price objective on Viking Therapeutics from $120.00 to $70.00 and set a "buy" rating for the company in a report on Friday, February 7th. Finally, Raymond James upped their price target on Viking Therapeutics from $122.00 to $125.00 and gave the company a "strong-buy" rating in a research report on Thursday, February 6th. 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 one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $89.75.
Read Our Latest Stock Analysis on VKTX
Viking Therapeutics Stock Performance
The firm's 50 day moving average price is $27.71 and its two-hundred day moving average price is $43.20. The company has a market cap of $2.49 billion, a P/E ratio of -22.22 and a beta of 0.84.
Viking Therapeutics (NASDAQ:VKTX - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The biotechnology company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.27) by ($0.05). During the same quarter in the previous year, the company earned ($0.25) EPS. As a group, analysts forecast that Viking Therapeutics, Inc. will post -1.56 EPS for the current fiscal year.
Insiders Place Their Bets
In other news, Director Sarah Kathryn Rouan acquired 1,240 shares of the firm's 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 purchase, the director now owns 1,240 shares in the company, valued at approximately $29,946. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 4.70% of the company's stock.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently bought and sold shares of VKTX. FMR LLC increased its position in Viking Therapeutics by 0.6% in the fourth quarter. FMR LLC now owns 16,715,438 shares of the biotechnology company's stock worth $672,629,000 after buying an additional 96,008 shares during the last quarter. Geode Capital Management LLC increased its holdings in Viking Therapeutics by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 1,880,713 shares of the biotechnology company's stock worth $75,704,000 after acquiring an additional 17,046 shares during the last quarter. Braidwell LP lifted its holdings in Viking Therapeutics by 27.9% during the fourth quarter. Braidwell LP now owns 1,479,666 shares of the biotechnology company's stock valued at $59,542,000 after purchasing an additional 322,689 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in Viking Therapeutics by 228.5% during the fourth quarter. Ameriprise Financial Inc. now owns 1,479,596 shares of the biotechnology company's stock valued at $59,540,000 after purchasing an additional 1,029,125 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in shares of Viking Therapeutics by 446.7% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,357,241 shares of the biotechnology company's stock valued at $54,615,000 after purchasing an additional 1,108,972 shares during the period. Hedge funds and other institutional investors own 76.03% of the company's stock.
Viking Therapeutics Company Profile
(
Get Free Report)
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.
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