Viking Therapeutics (NASDAQ:VKTX) Stock Price Up 1.8% - Here's Why

Viking Therapeutics, Inc. (NASDAQ:VKTX - Get Free Report)'s share price rose 1.8% on Wednesday . The stock traded as high as $20.35 and last traded at $20.34. Approximately 1,627,165 shares traded hands during trading, a decline of 59% from the average daily volume of 3,940,963 shares. The stock had previously closed at $19.98.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Piper Sandler reduced their price objective 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. 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 report on Thursday, February 6th. HC Wainwright reissued a "buy" rating and issued a $102.00 price objective on shares of Viking Therapeutics in a research report on Wednesday, March 26th. Citigroup began coverage on Viking Therapeutics in a research note on Friday, February 7th. They issued a "neutral" rating and a $38.00 price objective for the company. Finally, Maxim Group lowered their target price 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. One analyst has rated the stock with a sell rating, two have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $89.75.

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Viking Therapeutics Stock Up 3.3 %

The stock has a 50-day simple moving average of $27.71 and a two-hundred day simple moving average of $43.20. The firm has a market cap of $2.50 billion, a PE ratio of -22.22 and a beta of 0.84.

Viking Therapeutics (NASDAQ:VKTX - Get Free Report) last announced its quarterly earnings data 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 quarter in the prior year, the firm earned ($0.25) earnings per share. Research analysts expect that Viking Therapeutics, Inc. will post -1.56 earnings per share for the current year.

Insider Activity

In other Viking Therapeutics news, Director Sarah Kathryn Rouan bought 1,240 shares of the firm'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 transaction, the director now directly owns 1,240 shares in the company, valued at $29,946. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 4.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. FMR LLC grew its position in Viking Therapeutics by 0.6% during the 4th quarter. FMR LLC now owns 16,715,438 shares of the biotechnology company's stock worth $672,629,000 after acquiring an additional 96,008 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Viking Therapeutics by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 1,880,713 shares of the biotechnology company's stock worth $75,704,000 after purchasing an additional 17,046 shares during the last quarter. Braidwell LP increased its stake in shares of Viking Therapeutics by 27.9% in the fourth quarter. Braidwell LP now owns 1,479,666 shares of the biotechnology company's stock worth $59,542,000 after buying an additional 322,689 shares during the period. Ameriprise Financial Inc. raised its holdings in Viking Therapeutics by 228.5% during the 4th quarter. Ameriprise Financial Inc. now owns 1,479,596 shares of the biotechnology company's stock valued at $59,540,000 after buying an additional 1,029,125 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position in Viking Therapeutics by 446.7% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,357,241 shares of the biotechnology company's stock valued at $54,615,000 after buying an additional 1,108,972 shares during the period. 76.03% of the stock is owned by institutional investors.

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.