Viking Therapeutics (NASDAQ:VKTX) Stock Price Up 8.3% – Should You Buy?

Shares of Viking Therapeutics, Inc. (NASDAQ:VKTX) rose 8.3% during mid-day trading on Wednesday . The company traded as high as $33.25 and last traded at $33.2310. Approximately 1,749,730 shares traded hands during trading, a decline of 52% from the average daily volume of 3,659,647 shares. The stock had previously closed at $30.69.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. HC Wainwright restated a “buy” rating and issued a $102.00 price target on shares of Viking Therapeutics in a research report on Monday, September 29th. Cantor Fitzgerald set a $105.00 target price on shares of Viking Therapeutics in a research note on Thursday, October 23rd. Zacks Research raised Viking Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 19th. Weiss Ratings restated a “sell (d-)” rating on shares of Viking Therapeutics in a research note on Wednesday, October 8th. Finally, Canaccord Genuity Group upped their price target on Viking Therapeutics from $106.00 to $107.00 and gave the company a “buy” rating in a report on Wednesday, November 12th. Three investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $87.14.

Viking Therapeutics Stock Up 6.8%

The stock has a fifty day moving average of $35.70 and a 200-day moving average of $32.64. The firm has a market capitalization of $3.85 billion, a P/E ratio of -16.06 and a beta of 0.71.

Viking Therapeutics (NASDAQ:VKTX) last posted its quarterly earnings data on Wednesday, October 22nd. The biotechnology company reported ($0.81) earnings per share for the quarter, missing the consensus estimate of ($0.67) by ($0.14). During the same quarter in the previous year, the business posted ($0.22) EPS. The business’s revenue was up .0% compared to the same quarter last year. As a group, analysts forecast that Viking Therapeutics, Inc. will post -1.56 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Charles A. Rowland, Jr. sold 60,000 shares of Viking Therapeutics stock in a transaction on Monday, October 27th. The stock was sold at an average price of $35.57, for a total value of $2,134,200.00. Following the completion of the sale, the director directly owned 30,000 shares of the company’s stock, valued at approximately $1,067,100. This trade represents a 66.67% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Marianna Mancini sold 57,661 shares of the business’s stock in a transaction on Monday, January 5th. The stock was sold at an average price of $32.98, for a total value of $1,901,659.78. Following the sale, the chief operating officer owned 409,190 shares of the company’s stock, valued at approximately $13,495,086.20. The trade was a 12.35% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 476,090 shares of company stock valued at $15,985,782 over the last quarter. Company insiders own 4.10% of the company’s stock.

Institutional Trading of Viking Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in VKTX. Royal Bank of Canada lifted its position in Viking Therapeutics by 13.0% during the 1st quarter. Royal Bank of Canada now owns 347,716 shares of the biotechnology company’s stock valued at $8,396,000 after purchasing an additional 39,886 shares during the period. Integrated Wealth Concepts LLC bought a new stake in shares of Viking Therapeutics during the first quarter worth approximately $230,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Viking Therapeutics by 1.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 470,028 shares of the biotechnology company’s stock valued at $11,351,000 after buying an additional 6,696 shares during the period. Strs Ohio bought a new position in Viking Therapeutics in the first quarter valued at approximately $604,000. Finally, Parallel Advisors LLC grew its holdings in Viking Therapeutics by 33.4% during the 2nd quarter. Parallel Advisors LLC now owns 1,818 shares of the biotechnology company’s stock worth $48,000 after acquiring an additional 455 shares during the period. 76.03% of the stock is currently owned by institutional investors and hedge funds.

About Viking Therapeutics

Viking Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the development of novel therapies for metabolic and endocrine disorders. Headquartered in San Diego, California, the company’s pipeline leverages small-molecule approaches to target hormone signaling pathways implicated in conditions such as non?alcoholic steatohepatitis (NASH), dyslipidemia, type 2 diabetes and muscle wasting disorders.

The company’s lead programs include VK2809, a thyroid hormone receptor?beta agonist designed to reduce liver fat and improve lipid profiles in patients with NASH and dyslipidemia, and VK5211, a selective androgen receptor modulator (SARM) aimed at enhancing muscle mass and function in individuals with muscle wasting conditions.