Viking Therapeutics (NASDAQ:VKTX) Stock Price Up 1.8% After Strong Earnings

Viking Therapeutics, Inc. (NASDAQ:VKTX) rose 1.8% during mid-day trading on Wednesday following a stronger than expected earnings report. The stock traded as high as $67.78 and last traded at $66.13. Approximately 904,840 shares changed hands during trading, a decline of 84% from the average daily volume of 5,629,811 shares. The stock had previously closed at $64.93.

The biotechnology company reported ($0.26) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.01. During the same period last year, the company earned ($0.25) earnings per share.

Wall Street Analysts Forecast Growth

VKTX has been the topic of a number of recent analyst reports. Maxim Group reissued a “buy” rating and issued a $120.00 price objective on shares of Viking Therapeutics in a research note on Friday, March 15th. BTIG Research upped their price target on Viking Therapeutics from $100.00 to $125.00 and gave the stock a “buy” rating in a research note on Tuesday, March 26th. HC Wainwright reaffirmed a “buy” rating and set a $90.00 price target on shares of Viking Therapeutics in a research note on Thursday. Jefferies Financial Group started coverage on Viking Therapeutics in a research note on Thursday, March 7th. They set a “buy” rating and a $110.00 price target on the stock. Finally, Raymond James upped their price target on Viking Therapeutics from $37.00 to $115.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 27th. One research analyst has rated the stock with a sell rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $112.25.

Insider Transactions at Viking Therapeutics

In other news, Director Sarah Kathryn Rouan sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $28.05, for a total value of $701,250.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO Brian Lian sold 35,000 shares of the stock in a transaction 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 sale, the chief executive officer now owns 2,264,882 shares in the company, valued at $54,243,923.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Sarah Kathryn Rouan sold 25,000 shares of the stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $28.05, for a total value of $701,250.00. The disclosure for this sale can be found here. Insiders sold a total of 329,079 shares of company stock valued at $8,769,653 over the last ninety days. 4.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Viking Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in VKTX. Massmutual Trust Co. FSB ADV purchased a new stake in Viking Therapeutics during the first quarter valued at about $25,000. Lindbrook Capital LLC raised its position in Viking Therapeutics by 370.7% during the first quarter. Lindbrook Capital LLC now owns 353 shares of the biotechnology company’s stock valued at $29,000 after purchasing an additional 278 shares in the last quarter. Wetzel Investment Advisors Inc. purchased a new stake in Viking Therapeutics during the fourth quarter valued at about $37,000. Spire Wealth Management purchased a new stake in Viking Therapeutics during the first quarter valued at about $61,000. Finally, Global Retirement Partners LLC raised its position in Viking Therapeutics by 125.6% during the first quarter. Global Retirement Partners LLC now owns 1,015 shares of the biotechnology company’s stock valued at $83,000 after purchasing an additional 565 shares in the last quarter. Hedge funds and other institutional investors own 76.03% of the company’s stock.

Viking Therapeutics Stock Performance

The stock has a 50-day simple moving average of $67.61 and a two-hundred day simple moving average of $34.55.

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.