Viking Therapeutics (NASDAQ:VKTX) Shares Gap Up – Still a Buy?

Viking Therapeutics, Inc. (NASDAQ:VKTX)’s share price gapped up prior to trading on Monday . The stock had previously closed at $22.22, but opened at $26.95. Viking Therapeutics shares last traded at $24.16, with a volume of 3,497,413 shares changing hands.

Analyst Ratings Changes

Several brokerages have recently issued reports on VKTX. Scotiabank assumed coverage on shares of Viking Therapeutics in a research note on Thursday, February 13th. They issued a “sector outperform” rating and a $102.00 target price on the stock. B. Riley restated a “buy” rating and issued a $96.00 price target (down from $109.00) on shares of Viking Therapeutics in a research report on Friday, February 7th. HC Wainwright reiterated a “buy” rating and issued a $102.00 price objective on shares of Viking Therapeutics in a report on Wednesday, March 26th. The Goldman Sachs Group initiated coverage on Viking Therapeutics in a report on Tuesday, April 8th. They set a “neutral” rating and a $30.00 target price on the stock. Finally, Citigroup initiated coverage on shares of Viking Therapeutics in a research note on Friday, February 7th. They issued a “neutral” rating and a $38.00 target price for the company. One research analyst has rated the stock with a sell rating, two have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $89.75.

Viking Therapeutics Price Performance

The company has a market cap of $2.72 billion, a P/E ratio of -24.24 and a beta of 0.84. The stock’s 50-day moving average price is $27.71 and its 200-day moving average price is $43.07.

Viking Therapeutics (NASDAQ:VKTX) last issued its quarterly earnings data on Wednesday, February 5th. The biotechnology company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.27) by ($0.05). During the same quarter last year, the company earned ($0.25) EPS. As a group, analysts expect that Viking Therapeutics, Inc. will post -1.56 EPS for the current fiscal year.

Insiders Place Their Bets

In other Viking Therapeutics news, Director Sarah Kathryn Rouan purchased 1,240 shares of the firm’s stock in a transaction on Monday, March 31st. The stock was purchased at an average cost of $24.15 per share, for a total transaction of $29,946.00. Following the acquisition, the director now owns 1,240 shares in the company, valued at approximately $29,946. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 4.70% of the company’s stock.

Institutional Investors Weigh In On Viking Therapeutics

Hedge funds have recently added to or reduced their stakes in the business. National Bank of Canada FI raised its position in shares of Viking Therapeutics by 2,265.3% during the third quarter. National Bank of Canada FI now owns 3,548 shares of the biotechnology company’s stock worth $225,000 after purchasing an additional 3,398 shares during the period. Orion Portfolio Solutions LLC purchased a new stake in shares of Viking Therapeutics during the 3rd quarter worth approximately $492,000. MML Investors Services LLC raised its stake in shares of Viking Therapeutics by 193.1% in the third quarter. MML Investors Services LLC now owns 20,352 shares of the biotechnology company’s stock valued at $1,288,000 after buying an additional 13,409 shares during the period. Public Employees Retirement System of Ohio lifted its holdings in Viking Therapeutics by 12.9% during the third quarter. Public Employees Retirement System of Ohio now owns 45,252 shares of the biotechnology company’s stock valued at $2,865,000 after purchasing an additional 5,155 shares during the last quarter. Finally, M&T Bank Corp bought a new position in shares of Viking Therapeutics in the third quarter worth $354,000. 76.03% of the stock is currently owned by institutional investors.

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.