Brokers Issue Forecasts for Viking Therapeutics, Inc.’s Q2 2024 Earnings (NASDAQ:VKTX)

Viking Therapeutics, Inc. (NASDAQ:VKTX) – Stock analysts at William Blair increased their Q2 2024 EPS estimates for Viking Therapeutics in a research report issued on Wednesday, April 24th. William Blair analyst A. Hsieh now anticipates that the biotechnology company will post earnings of ($0.17) per share for the quarter, up from their prior estimate of ($0.28). William Blair currently has a “Outperform” rating on the stock. The consensus estimate for Viking Therapeutics’ current full-year earnings is ($1.05) per share. William Blair also issued estimates for Viking Therapeutics’ Q3 2024 earnings at ($0.20) EPS, Q4 2024 earnings at ($0.21) EPS, FY2024 earnings at ($0.85) EPS, Q1 2025 earnings at ($0.23) EPS, Q2 2025 earnings at ($0.23) EPS, Q3 2025 earnings at ($0.25) EPS, Q4 2025 earnings at ($0.25) EPS, FY2025 earnings at ($0.96) EPS and FY2026 earnings at ($1.12) EPS.

Several other research firms also recently issued reports on VKTX. Raymond James upped their price objective on shares of Viking Therapeutics from $37.00 to $115.00 and gave the company an “outperform” rating in a research note on Tuesday, February 27th. HC Wainwright reaffirmed a “buy” rating and set a $90.00 price target on shares of Viking Therapeutics in a research report on Thursday, April 25th. Maxim Group reissued a “buy” rating and issued a $120.00 price objective on shares of Viking Therapeutics in a report on Friday, March 15th. Truist Financial lifted their target price on shares of Viking Therapeutics from $32.00 to $120.00 and gave the company a “buy” rating in a report on Thursday, February 29th. Finally, BTIG Research increased their price target on shares of Viking Therapeutics from $100.00 to $125.00 and gave the stock a “buy” rating in a research note on Tuesday, March 26th. One analyst has rated the stock with a sell rating and ten have given a buy rating to the company. Based on data from MarketBeat, Viking Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $112.25.

Viking Therapeutics Trading Up 1.5 %

Shares of NASDAQ:VKTX opened at $75.42 on Monday. The firm has a 50 day simple moving average of $69.90 and a 200-day simple moving average of $36.01. Viking Therapeutics has a twelve month low of $8.28 and a twelve month high of $99.41. The company has a market capitalization of $8.31 billion, a PE ratio of -81.10 and a beta of 1.05.

Viking Therapeutics (NASDAQ:VKTX) last posted its earnings results on Wednesday, April 24th. The biotechnology company reported ($0.26) earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.01. During the same period in the previous year, the firm posted ($0.25) EPS.

Insider Buying and Selling at Viking Therapeutics

In other news, Director Sarah Kathryn Rouan sold 25,000 shares of the stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $28.05, for a total transaction of $701,250.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Viking Therapeutics news, Director Sarah Kathryn Rouan sold 25,000 shares of the company’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $28.05, for a total transaction of $701,250.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Brian Lian sold 269,079 shares of Viking Therapeutics stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $26.87, for a total transaction of $7,230,152.73. Following the sale, the chief executive officer now owns 2,184,882 shares of the company’s stock, valued at $58,707,779.34. The disclosure for this sale can be found here. 4.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Viking Therapeutics

Large investors have recently added to or reduced their stakes in the business. Commonwealth Equity Services LLC purchased a new position in shares of Viking Therapeutics during the 1st quarter worth approximately $1,422,000. Principal Financial Group Inc. grew its holdings in Viking Therapeutics by 3,146.7% during the 1st quarter. Principal Financial Group Inc. now owns 360,839 shares of the biotechnology company’s stock valued at $29,589,000 after buying an additional 349,725 shares during the last quarter. Caas Capital Management LP purchased a new position in Viking Therapeutics during the first quarter worth $2,706,000. K.J. Harrison & Partners Inc acquired a new position in shares of Viking Therapeutics in the first quarter worth $328,000. Finally, LifeSteps Financial Inc. acquired a new stake in shares of Viking Therapeutics during the first quarter valued at $37,000. 76.03% of the stock is owned by institutional investors and hedge funds.

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.