Viking Therapeutics (VKTX) Shares Gap Down to $14.04

Viking Therapeutics Inc (NASDAQ:VKTX)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $14.33, but opened at $14.04. Viking Therapeutics shares last traded at $13.14, with a volume of 4931652 shares changing hands.

Several equities analysts have weighed in on VKTX shares. BidaskClub cut Viking Therapeutics from a “buy” rating to a “hold” rating in a report on Friday, September 7th. HC Wainwright reaffirmed a “buy” rating and issued a $15.00 price objective on shares of Viking Therapeutics in a report on Friday, August 10th. William Blair reaffirmed an “outperform” rating on shares of Viking Therapeutics in a report on Friday, August 10th. Maxim Group reaffirmed a “buy” rating and issued a $28.00 price objective (up from $14.00) on shares of Viking Therapeutics in a report on Tuesday, September 18th. Finally, Raymond James reaffirmed an “outperform” rating and issued a $43.00 price objective (up from $15.00) on shares of Viking Therapeutics in a report on Tuesday, September 18th. One research analyst has rated the stock with a sell rating, one has given a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $28.17.

The firm has a market cap of $833.44 million, a price-to-earnings ratio of -16.23 and a beta of 2.92.

Viking Therapeutics (NASDAQ:VKTX) last issued its quarterly earnings results on Thursday, November 8th. The biotechnology company reported ($0.11) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.12) by $0.01. On average, equities research analysts predict that Viking Therapeutics Inc will post -0.44 EPS for the current fiscal year.

In other news, major shareholder Ligand Pharmaceuticals Inc sold 262,881 shares of Viking Therapeutics stock in a transaction on Tuesday, September 25th. The stock was sold at an average price of $19.15, for a total value of $5,034,171.15. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 3.90% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. First Mercantile Trust Co. bought a new position in shares of Viking Therapeutics in the 3rd quarter valued at $131,000. Janney Montgomery Scott LLC bought a new position in shares of Viking Therapeutics in the 2nd quarter valued at $114,000. Strs Ohio bought a new position in shares of Viking Therapeutics in the 2nd quarter valued at $120,000. Cubist Systematic Strategies LLC bought a new position in shares of Viking Therapeutics in the 2nd quarter valued at $129,000. Finally, State Board of Administration of Florida Retirement System bought a new position in shares of Viking Therapeutics in the 2nd quarter valued at $144,000. Institutional investors own 53.56% of the company’s stock.

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Viking Therapeutics Company Profile (NASDAQ:VKTX)

Viking Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on the development of novel therapies for metabolic and endocrine disorders. Its lead clinical program, VK5211, is an orally available, non-steroidal selective androgen receptor modulator in Phase II development for the treatment of patients recovering from non-elective hip fracture surgery; in Phase I clinical trials for improving lean body mass; and in pre-clinical trial for improving bone mineral density, bone mineral content, bone strength, and other measures.

Further Reading: Understanding Market Liquidity

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