Viking Therapeutics (NASDAQ:VKTX) Shares Up 4.6%

Shares of Viking Therapeutics, Inc. (NASDAQ:VKTXGet Free Report) shot up 4.6% during trading on Monday . The stock traded as high as $73.71 and last traded at $72.76. 1,127,503 shares traded hands during mid-day trading, a decline of 82% from the average session volume of 6,346,708 shares. The stock had previously closed at $69.55.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on VKTX shares. StockNews.com raised shares of Viking Therapeutics to a “sell” rating in a report on Friday, February 9th. Truist Financial upped their target price on Viking Therapeutics from $32.00 to $120.00 and gave the stock a “buy” rating in a research note on Thursday, February 29th. Maxim Group reiterated a “buy” rating and issued a $120.00 price target on shares of Viking Therapeutics in a research note on Friday, March 15th. Jefferies Financial Group initiated coverage on Viking Therapeutics in a research report on Thursday, March 7th. They set a “buy” rating and a $110.00 price objective for the company. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $80.00 target price on shares of Viking Therapeutics in a research report on Friday, March 15th. One equities research analyst has rated the stock with a sell rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $101.89.

Read Our Latest Research Report on VKTX

Viking Therapeutics Stock Performance

The company has a fifty day moving average price of $47.72 and a two-hundred day moving average price of $25.91.

Viking Therapeutics (NASDAQ:VKTXGet Free Report) last issued its quarterly earnings results on Wednesday, February 7th. The biotechnology company reported ($0.25) EPS for the quarter, hitting analysts’ consensus estimates of ($0.25). During the same quarter last year, the business posted ($0.26) EPS. On average, research analysts anticipate that Viking Therapeutics, Inc. will post -1.1 EPS for the current year.

Insider Activity

In related news, CEO Brian Lian sold 35,000 shares of Viking Therapeutics stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $23.95, for a total value of $838,250.00. Following the transaction, the chief executive officer now directly owns 2,264,882 shares of the company’s stock, valued at $54,243,923.90. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Viking Therapeutics news, CFO Greg Zante sold 15,000 shares of the stock in a transaction dated Thursday, January 4th. The stock was sold at an average price of $17.90, for a total transaction of $268,500.00. Following the completion of the sale, the chief financial officer now directly owns 180,730 shares in the company, valued at approximately $3,235,067. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Brian Lian sold 35,000 shares of the business’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $23.95, for a total value of $838,250.00. Following the completion of the transaction, the chief executive officer now directly owns 2,264,882 shares in the company, valued at $54,243,923.90. The disclosure for this sale can be found here. Over the last quarter, insiders sold 374,079 shares of company stock valued at $9,729,653. Company insiders own 4.40% of the company’s stock.

Institutional Investors Weigh In On Viking Therapeutics

Hedge funds have recently added to or reduced their stakes in the business. Wetzel Investment Advisors Inc. acquired a new stake in shares of Viking Therapeutics during the 4th quarter worth approximately $37,000. Retirement Group LLC boosted its stake in Viking Therapeutics by 75.0% during the second quarter. Retirement Group LLC now owns 2,100 shares of the biotechnology company’s stock worth $34,000 after acquiring an additional 900 shares in the last quarter. US Bancorp DE grew its holdings in Viking Therapeutics by 66.5% in the fourth quarter. US Bancorp DE now owns 2,346 shares of the biotechnology company’s stock worth $44,000 after purchasing an additional 937 shares during the period. Great West Life Assurance Co. Can bought a new stake in Viking Therapeutics in the first quarter valued at $63,000. Finally, Virtus ETF Advisers LLC raised its holdings in shares of Viking Therapeutics by 9.0% during the fourth quarter. Virtus ETF Advisers LLC now owns 4,817 shares of the biotechnology company’s stock valued at $90,000 after purchasing an additional 399 shares during the period. 76.03% of the stock is currently 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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