Research Analysts Issue Forecasts for VKTX FY2024 Earnings

Viking Therapeutics, Inc. (NASDAQ:VKTX) – Stock analysts at HC Wainwright boosted their FY2024 earnings estimates for Viking Therapeutics in a research note issued to investors on Thursday, October 24th. HC Wainwright analyst J. Pantginis now expects that the biotechnology company will earn ($0.94) per share for the year, up from their prior estimate of ($0.95). HC Wainwright currently has a “Buy” rating and a $90.00 target price on the stock. The consensus estimate for Viking Therapeutics’ current full-year earnings is ($0.98) per share. HC Wainwright also issued estimates for Viking Therapeutics’ Q4 2024 earnings at ($0.24) EPS.

A number of other equities research analysts also recently issued reports on VKTX. Raymond James increased their price target on shares of Viking Therapeutics from $116.00 to $118.00 and gave the stock a “strong-buy” rating in a report on Thursday, July 25th. JPMorgan Chase & Co. initiated coverage on shares of Viking Therapeutics in a report on Wednesday, September 11th. They issued an “overweight” rating and a $80.00 price target on the stock. StockNews.com raised shares of Viking Therapeutics to a “sell” rating in a research note on Tuesday, October 15th. Morgan Stanley reaffirmed an “overweight” rating and issued a $105.00 target price on shares of Viking Therapeutics in a research note on Thursday, September 12th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $138.00 target price on shares of Viking Therapeutics in a research note on Wednesday, September 25th. One research analyst has rated the stock with a sell rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $108.60.

Viking Therapeutics Trading Down 1.6 %

Shares of Viking Therapeutics stock opened at $73.35 on Monday. Viking Therapeutics has a 12-month low of $9.25 and a 12-month high of $99.41. The company has a market cap of $8.09 billion, a price-to-earnings ratio of -78.87 and a beta of 1.00. The company’s 50-day moving average price is $63.97 and its 200-day moving average price is $61.67.

Viking Therapeutics (NASDAQ:VKTX) last announced its quarterly earnings results on Wednesday, October 23rd. The biotechnology company reported ($0.22) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.02. During the same quarter in the previous year, the company earned ($0.23) earnings per share.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Signaturefd LLC grew its holdings in shares of Viking Therapeutics by 16.2% in the third quarter. Signaturefd LLC now owns 1,351 shares of the biotechnology company’s stock worth $86,000 after purchasing an additional 188 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Viking Therapeutics by 124.6% in the third quarter. GAMMA Investing LLC now owns 438 shares of the biotechnology company’s stock worth $28,000 after purchasing an additional 243 shares during the last quarter. Massmutual Trust Co. FSB ADV grew its holdings in shares of 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 last quarter. 9258 Wealth Management LLC grew its holdings in shares of Viking Therapeutics by 2.9% in the first quarter. 9258 Wealth Management LLC now owns 12,379 shares of the biotechnology company’s stock worth $1,015,000 after purchasing an additional 351 shares during the last quarter. Finally, Los Angeles Capital Management LLC grew its holdings in shares of Viking Therapeutics by 3.1% in the second quarter. Los Angeles Capital Management LLC now owns 12,278 shares of the biotechnology company’s stock worth $651,000 after purchasing an additional 372 shares during the last quarter. Institutional investors own 76.03% of the company’s stock.

Insider Buying and Selling at Viking Therapeutics

In other Viking Therapeutics news, Director J Matthew Singleton sold 20,786 shares of the stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $57.53, for a total transaction of $1,195,818.58. Following the transaction, the director now directly owns 9,500 shares in the company, valued at $546,535. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Viking Therapeutics news, Director J Matthew Singleton sold 20,786 shares of the stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $57.53, for a total transaction of $1,195,818.58. Following the transaction, the director now directly owns 9,500 shares in the company, valued at $546,535. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Sarah Kathryn Rouan sold 11,000 shares of the firm’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $80.89, for a total transaction of $889,790.00. Following the completion of the transaction, the director now owns 9,500 shares in the company, valued at $768,455. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 525,473 shares of company stock worth $37,088,158 over the last ninety days. Insiders own 4.70% of the company’s stock.

About Viking Therapeutics

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.