William Blair Comments on Viking Therapeutics, Inc.’s Q3 2023 Earnings (NASDAQ:VKTX)

Viking Therapeutics, Inc. (NASDAQ:VKTX – Get Rating) – William Blair decreased their Q3 2023 earnings per share estimates for shares of Viking Therapeutics in a research note issued to investors on Monday, January 9th. William Blair analyst A. Hsieh now expects that the biotechnology company will earn ($0.23) per share for the quarter, down from their prior estimate of ($0.22). The consensus estimate for Viking Therapeutics’ current full-year earnings is ($0.88) per share. William Blair also issued estimates for Viking Therapeutics’ FY2024 earnings at ($0.97) EPS.

Viking Therapeutics (NASDAQ:VKTX – Get Rating) last released its quarterly earnings results on Wednesday, October 26th. The biotechnology company reported ($0.21) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.02.

VKTX has been the subject of several other reports. Raymond James boosted their price objective on Viking Therapeutics from $10.00 to $11.00 and gave the stock an “outperform” rating in a research note on Thursday, October 27th. Maxim Group upped their price target on Viking Therapeutics from $10.00 to $15.00 and gave the company a “buy” rating in a research report on Monday, December 19th. Oppenheimer dropped their price target on Viking Therapeutics to $10.00 in a research report on Tuesday, November 1st. Finally, StockNews.com began coverage on Viking Therapeutics in a research report on Wednesday, October 12th. They issued a “hold” rating for the company.

Viking Therapeutics Trading Up 2.7 %

NASDAQ:VKTX opened at $8.77 on Thursday. Viking Therapeutics has a 12 month low of $2.02 and a 12 month high of $9.62. The stock has a 50 day moving average of $5.70 and a two-hundred day moving average of $4.15. The firm has a market cap of $672.55 million, a P/E ratio of -10.83 and a beta of 0.88.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Titleist Asset Management LTD. purchased a new position in Viking Therapeutics in the fourth quarter worth approximately $132,000. Balyasny Asset Management LLC grew its position in Viking Therapeutics by 1.2% in the third quarter. Balyasny Asset Management LLC now owns 2,673,564 shares of the biotechnology company’s stock worth $7,272,000 after acquiring an additional 30,613 shares during the period. Jacobs Levy Equity Management Inc. purchased a new position in Viking Therapeutics in the third quarter worth approximately $1,325,000. Marshall Wace LLP purchased a new position in Viking Therapeutics in the third quarter worth approximately $3,638,000. Finally, BlackRock Inc. grew its position in Viking Therapeutics by 2.7% in the third quarter. BlackRock Inc. now owns 1,466,256 shares of the biotechnology company’s stock worth $3,987,000 after acquiring an additional 39,035 shares during the period. 34.71% of the stock is currently owned by hedge funds and other institutional investors.

About Viking Therapeutics

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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.