Viking Therapeutics (NASDAQ:VKTX) Trading 10.9% Higher - Should You Buy?

Viking Therapeutics, Inc. (NASDAQ:VKTX - Get Free Report) shares traded up 10.9% during trading on Monday . The company traded as high as $27.09 and last traded at $24.65. 4,732,716 shares changed hands during mid-day trading, an increase of 19% from the average session volume of 3,991,390 shares. The stock had previously closed at $22.22.

Wall Street Analyst Weigh In

VKTX has been the topic of several research reports. The Goldman Sachs Group assumed coverage on shares of Viking Therapeutics in a report on Tuesday, April 8th. They issued a "neutral" rating and a $30.00 price objective on the stock. Piper Sandler lowered their target price 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. Scotiabank began coverage on Viking Therapeutics in a report on Thursday, February 13th. They set a "sector outperform" rating and a $102.00 price objective on the stock. Citigroup started coverage on shares of Viking Therapeutics in a report on Friday, February 7th. They set a "neutral" rating and a $38.00 target price on the stock. Finally, Raymond James increased their price target on Viking Therapeutics from $122.00 to $125.00 and gave the company a "strong-buy" rating in a research note on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $89.75.

Viking Therapeutics Stock Performance

The business has a 50 day moving average of $26.94 and a two-hundred day moving average of $42.01. The firm has a market capitalization of $2.69 billion, a price-to-earnings ratio of -23.94 and a beta of 0.84.

Viking Therapeutics (NASDAQ:VKTX - Get Free Report) last posted its earnings results on Wednesday, February 5th. The biotechnology company reported ($0.32) earnings per share for the quarter, missing analysts' consensus estimates of ($0.27) by ($0.05). During the same period in the prior year, the business posted ($0.25) EPS. On average, equities analysts predict that Viking Therapeutics, Inc. will post -1.56 EPS for the current fiscal year.

Insider Activity

In other Viking Therapeutics news, Director Sarah Kathryn Rouan bought 1,240 shares of the firm's stock in a transaction dated Monday, March 31st. The stock was purchased at an average cost of $24.15 per share, with a total value of $29,946.00. Following the transaction, the director now directly owns 1,240 shares in the company, valued at $29,946. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 4.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Viking Therapeutics

Several institutional investors have recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in Viking Therapeutics in the fourth quarter valued at about $51,464,000. Massachusetts Financial Services Co. MA increased its stake in Viking Therapeutics by 446.7% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,357,241 shares of the biotechnology company's stock worth $54,615,000 after acquiring an additional 1,108,972 shares during the last quarter. Ameriprise Financial Inc. lifted its position 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. Raymond James Financial Inc. purchased a new position in Viking Therapeutics in the fourth quarter worth $24,888,000. Finally, Man Group plc boosted its holdings in shares of Viking Therapeutics by 3,373.4% in the 4th quarter. Man Group plc now owns 448,732 shares of the biotechnology company's stock worth $18,057,000 after purchasing an additional 435,813 shares in the last quarter. Institutional investors own 76.03% of the company's stock.

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.