Viking Therapeutics, Inc. (NASDAQ:VKTX - Get Free Report)'s share price dropped 7.5% on Thursday . The stock traded as low as $20.75 and last traded at $21.37. Approximately 1,082,953 shares were traded during mid-day trading, a decline of 73% from the average daily volume of 3,960,736 shares. The stock had previously closed at $23.10.
Wall Street Analyst Weigh In
A number of research analysts recently issued reports on the company. B. Riley reaffirmed a "buy" rating and set a $96.00 target price (down from $109.00) on shares of Viking Therapeutics in a report on Friday, February 7th. The Goldman Sachs Group began coverage on Viking Therapeutics in a report on Tuesday, April 8th. They issued a "neutral" rating and a $30.00 target price on the stock. Piper Sandler reduced their target price on Viking Therapeutics from $74.00 to $71.00 and set an "overweight" rating for the company in a report on Thursday, February 6th. Maxim Group dropped their price target on Viking Therapeutics from $120.00 to $70.00 and set a "buy" rating on the stock in a research note on Friday, February 7th. Finally, Raymond James upped their price target on shares of 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 research analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Viking Therapeutics has a consensus rating of "Moderate Buy" and a consensus target price of $89.75.
Get Our Latest Stock Analysis on VKTX
Viking Therapeutics Stock Performance
The company has a market cap of $2.50 billion, a price-to-earnings ratio of -22.22 and a beta of 0.84. The company's 50 day moving average price is $27.71 and its 200 day moving average price is $43.20.
Viking Therapeutics (NASDAQ:VKTX - Get Free Report) last announced its quarterly 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 earned ($0.25) earnings per share. On average, equities research analysts forecast that Viking Therapeutics, Inc. will post -1.56 EPS for the current fiscal year.
Insider Buying and Selling at Viking Therapeutics
In other Viking Therapeutics news, Director Sarah Kathryn Rouan acquired 1,240 shares of the business's stock in a transaction that occurred on Monday, March 31st. The stock was acquired at an average price of $24.15 per share, with a total value of $29,946.00. Following the transaction, the director now owns 1,240 shares of the company's stock, valued at approximately $29,946. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 4.70% of the company's stock.
Hedge Funds Weigh In On Viking Therapeutics
Several large investors have recently bought and sold shares of VKTX. S.A. Mason LLC increased its holdings in Viking Therapeutics by 20.0% in the 4th quarter. S.A. Mason LLC now owns 1,800 shares of the biotechnology company's stock valued at $72,000 after buying an additional 300 shares during the period. Blue Trust Inc. raised its holdings 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 buying an additional 309 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich lifted its position in Viking Therapeutics by 7.4% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 4,980 shares of the biotechnology company's stock worth $221,000 after buying an additional 345 shares in the last quarter. Arizona State Retirement System raised its position in Viking Therapeutics by 1.2% in the 4th quarter. Arizona State Retirement System now owns 28,929 shares of the biotechnology company's stock worth $1,164,000 after purchasing an additional 353 shares during the last quarter. Finally, Activest Wealth Management lifted its stake in shares of Viking Therapeutics by 24.1% during the fourth quarter. Activest Wealth Management now owns 2,165 shares of the biotechnology company's stock valued at $87,000 after acquiring an additional 420 shares during the period. 76.03% of the stock is currently owned by institutional investors and hedge funds.
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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