Viking Therapeutics (NASDAQ:VKTX) Trading 7.2% Higher - Here's Why

Viking Therapeutics, Inc. (NASDAQ:VKTX - Get Free Report) shares were up 7.2% on Thursday . The stock traded as high as $41.12 and last traded at $41.04. Approximately 2,385,281 shares were traded during mid-day trading, a decline of 46% from the average daily volume of 4,445,326 shares. The stock had previously closed at $38.28.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on VKTX. HC Wainwright restated a "buy" rating and set a $102.00 price objective on shares of Viking Therapeutics in a report on Wednesday. Morgan Stanley reissued an "overweight" rating and issued a $105.00 price target on shares of Viking Therapeutics in a research note on Thursday, September 12th. William Blair reaffirmed an "outperform" rating on shares of Viking Therapeutics in a research note on Wednesday, November 20th. B. Riley initiated coverage on shares of Viking Therapeutics in a research report on Friday, November 22nd. They issued a "buy" rating and a $109.00 target price on the stock. Finally, StockNews.com raised shares of Viking Therapeutics to a "sell" rating in a research report on Tuesday, October 15th. One analyst has rated the stock with a sell rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Buy" and an average target price of $106.75.

Viking Therapeutics Stock Performance

The firm has a fifty day moving average of $58.05 and a 200-day moving average of $57.95. The stock has a market capitalization of $4.62 billion, a price-to-earnings ratio of -44.61 and a beta of 0.88.

Viking Therapeutics (NASDAQ:VKTX - Get Free Report) last posted its earnings results on Wednesday, October 23rd. The biotechnology company reported ($0.22) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.24) by $0.02. During the same period last year, the business posted ($0.23) earnings per share. On average, analysts predict that Viking Therapeutics, Inc. will post -0.97 EPS for the current year.

Insider Transactions at Viking Therapeutics

In other news, Director Lawson Macartney sold 2,000 shares of the firm's stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $68.67, for a total transaction of $137,340.00. Following the completion of the sale, the director now owns 47,965 shares of the company's stock, valued at approximately $3,293,756.55. This trade represents a 4.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Sarah Kathryn Rouan sold 11,000 shares of the company's stock in a transaction on Friday, October 25th. The shares were sold at an average price of $80.89, for a total transaction of $889,790.00. Following the completion of the sale, the director now directly owns 9,500 shares in the company, valued at $768,455. This represents a 53.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 371,117 shares of company stock valued at $27,140,009. Corporate insiders own 4.70% of the company's stock.

Institutional Investors Weigh In On Viking Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of VKTX. Blue Trust Inc. bought a new stake in Viking Therapeutics in the third quarter valued at about $26,000. GAMMA Investing LLC raised its position in shares of Viking Therapeutics by 124.6% during the 3rd quarter. GAMMA Investing LLC now owns 438 shares of the biotechnology company's stock valued at $28,000 after acquiring an additional 243 shares in the last quarter. Gilliland Jeter Wealth Management LLC acquired a new stake in shares of Viking Therapeutics during the 3rd quarter valued at approximately $32,000. Stone House Investment Management LLC lifted its stake in Viking Therapeutics by 66.7% during the third quarter. Stone House Investment Management LLC now owns 500 shares of the biotechnology company's stock worth $32,000 after purchasing an additional 200 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV boosted its holdings in Viking Therapeutics by 84.3% in the third quarter. Massmutual Trust Co. FSB ADV now owns 553 shares of the biotechnology company's stock worth $35,000 after purchasing an additional 253 shares during the period. 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.