Viking Therapeutics (NASDAQ:VKTX) Trading 2% Higher – What’s Next?

Viking Therapeutics, Inc. (NASDAQ:VKTX) shares traded up 2% during trading on Thursday . The stock traded as high as $54.73 and last traded at $54.51. 2,571,782 shares were traded during trading, a decline of 43% from the average session volume of 4,522,554 shares. The stock had previously closed at $53.42.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on VKTX shares. William Blair reissued an “outperform” rating on shares of Viking Therapeutics in a report on Wednesday, November 20th. StockNews.com raised Viking Therapeutics to a “sell” rating in a research note on Tuesday, October 15th. Oppenheimer restated an “outperform” rating and set a $138.00 target price on shares of Viking Therapeutics in a research report on Wednesday, September 25th. B. Riley started coverage on Viking Therapeutics in a report on Friday, November 22nd. They issued a “buy” rating and a $109.00 price target on the stock. Finally, Morgan Stanley reissued an “overweight” rating and set a $105.00 price objective on shares of Viking Therapeutics in a report on Thursday, September 12th. One research analyst has rated the stock with a sell rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Viking Therapeutics presently has an average rating of “Buy” and a consensus price target of $109.73.

Viking Therapeutics Stock Down 2.9 %

The stock has a market cap of $5.90 billion, a price-to-earnings ratio of -56.92 and a beta of 1.00. The stock’s fifty day moving average is $62.77 and its 200-day moving average is $59.83.

Viking Therapeutics (NASDAQ:VKTX) last announced its quarterly earnings results on Wednesday, October 23rd. The biotechnology company reported ($0.22) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.02. During the same quarter in the prior year, the firm earned ($0.23) EPS. As a group, equities research analysts predict that Viking Therapeutics, Inc. will post -0.98 earnings per share for the current fiscal year.

Insider Buying and Selling at Viking Therapeutics

In related news, Director Lawson Macartney sold 2,000 shares of the firm’s stock in a transaction 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 sale, the director now directly owns 47,965 shares in the company, valued at $3,293,756.55. This trade represents a 4.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Sarah Kathryn Rouan sold 11,000 shares of the company’s stock in a transaction 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 directly owns 9,500 shares of the company’s stock, valued at approximately $768,455. The trade was a 53.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 371,117 shares of company stock valued at $27,140,009. Company insiders own 4.70% of the company’s stock.

Institutional Trading of Viking Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the company. Oak Ridge Investments LLC bought a new position in shares of Viking Therapeutics during the third quarter worth about $837,000. Oppenheimer & Co. Inc. boosted its position in Viking Therapeutics by 43.5% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 102,324 shares of the biotechnology company’s stock worth $6,478,000 after acquiring an additional 31,011 shares during the last quarter. Nvwm LLC bought a new position in shares of Viking Therapeutics during the 3rd quarter worth approximately $999,000. Chartwell Investment Partners LLC raised its holdings in shares of Viking Therapeutics by 88.0% in the third quarter. Chartwell Investment Partners LLC now owns 36,666 shares of the biotechnology company’s stock valued at $2,322,000 after purchasing an additional 17,159 shares during the last quarter. Finally, Aptus Capital Advisors LLC lifted its position in shares of Viking Therapeutics by 34.1% in the third quarter. Aptus Capital Advisors LLC now owns 38,143 shares of the biotechnology company’s stock worth $2,415,000 after purchasing an additional 9,699 shares in the last quarter. Institutional investors and hedge funds own 76.03% 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.