Viking Therapeutics, Inc. (NASDAQ:VKTX - Get Free Report)'s share price gapped up before the market opened on Monday . The stock had previously closed at $22.22, but opened at $26.95. Viking Therapeutics shares last traded at $24.16, with a volume of 3,497,413 shares traded.
Wall Street Analyst Weigh In
A number of analysts have recently commented on VKTX shares. Scotiabank initiated coverage on Viking Therapeutics in a research note on Thursday, February 13th. They set a "sector outperform" rating and a $102.00 price target on the stock. The Goldman Sachs Group began coverage on shares of Viking Therapeutics in a report on Tuesday, April 8th. They set a "neutral" rating and a $30.00 price objective for the company. Raymond James upped their target price on shares of Viking Therapeutics from $122.00 to $125.00 and gave the stock a "strong-buy" rating in a report on Thursday, February 6th. Piper Sandler cut their price target on Viking Therapeutics from $74.00 to $71.00 and set an "overweight" rating for the company in a research note on Thursday, February 6th. Finally, Maxim Group lowered their price objective on Viking Therapeutics from $120.00 to $70.00 and set a "buy" rating for the company in a research note on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $89.75.
Read Our Latest Stock Analysis on Viking Therapeutics
Viking Therapeutics Stock Performance
The company has a market cap of $2.69 billion, a P/E ratio of -23.94 and a beta of 0.84. The stock has a 50-day moving average of $27.06 and a two-hundred day moving average of $42.27.
Viking Therapeutics (NASDAQ:VKTX - Get Free Report) last issued its 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 prior year, the firm posted ($0.25) earnings per share. As a group, sell-side analysts forecast that Viking Therapeutics, Inc. will post -1.56 EPS for the current fiscal year.
Insider Activity
In related news, Director Sarah Kathryn Rouan purchased 1,240 shares of the business's stock in a transaction that occurred on Monday, March 31st. The shares were bought at an average price of $24.15 per share, for a total transaction of $29,946.00. Following the purchase, the director now directly owns 1,240 shares of the company's stock, valued at approximately $29,946. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 4.70% of the company's stock.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Virtu Financial LLC bought a new position in shares of Viking Therapeutics during the 4th quarter valued at $1,715,000. Institute for Wealth Management LLC. increased its position in Viking Therapeutics by 122.4% during the fourth quarter. Institute for Wealth Management LLC. now owns 80,602 shares of the biotechnology company's stock valued at $3,243,000 after acquiring an additional 44,365 shares during the last quarter. Janney Montgomery Scott LLC boosted its position in Viking Therapeutics by 103.1% in the fourth quarter. Janney Montgomery Scott LLC now owns 42,612 shares of the biotechnology company's stock worth $1,715,000 after purchasing an additional 21,627 shares during the last quarter. Wesbanco Bank Inc. purchased a new position in Viking Therapeutics in the fourth quarter worth about $475,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Viking Therapeutics during the 4th quarter valued at about $528,000. 76.03% of the stock is owned by institutional investors.
About Viking Therapeutics
(
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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