HC Wainwright Comments on Viking Therapeutics, Inc.’s Q2 2024 Earnings (NASDAQ:VKTX)

Viking Therapeutics, Inc. (NASDAQ:VKTX) – Equities research analysts at HC Wainwright reduced their Q2 2024 earnings estimates for Viking Therapeutics in a research note issued to investors on Thursday, April 25th. HC Wainwright analyst J. Pantginis now expects that the biotechnology company will post earnings of ($0.28) per share for the quarter, down from their prior forecast of ($0.19). HC Wainwright currently has a “Buy” rating and a $90.00 target price on the stock. The consensus estimate for Viking Therapeutics’ current full-year earnings is ($1.05) per share. HC Wainwright also issued estimates for Viking Therapeutics’ Q3 2024 earnings at ($0.29) EPS, Q4 2024 earnings at ($0.30) EPS and FY2024 earnings at ($1.14) EPS.

Other equities analysts also recently issued research reports about the stock. BTIG Research increased their price target on shares of Viking Therapeutics from $100.00 to $125.00 and gave the company a “buy” rating in a report on Tuesday, March 26th. Truist Financial lifted their price target on shares of Viking Therapeutics from $32.00 to $120.00 and gave the company a “buy” rating in a research report on Thursday, February 29th. StockNews.com upgraded Viking Therapeutics to a “sell” rating in a report on Thursday. Jefferies Financial Group initiated coverage on Viking Therapeutics in a report on Thursday, March 7th. They set a “buy” rating and a $110.00 price objective for the company. Finally, William Blair restated an “outperform” rating on shares of Viking Therapeutics in a research report on Friday, February 23rd. One analyst has rated the stock with a sell rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $112.25.

Viking Therapeutics Stock Performance

Viking Therapeutics stock opened at $74.31 on Monday. The company has a market cap of $8.19 billion, a P/E ratio of -79.90 and a beta of 1.05. Viking Therapeutics has a one year low of $8.28 and a one year high of $99.41. The business has a fifty day moving average of $69.11 and a two-hundred day moving average of $35.56.

Viking Therapeutics (NASDAQ:VKTX) last issued its earnings results on Wednesday, April 24th. The biotechnology company reported ($0.26) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.01. During the same period in the previous year, the company earned ($0.25) EPS.

Insider Activity at Viking Therapeutics

In related news, CEO Brian Lian sold 269,079 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $26.87, for a total transaction of $7,230,152.73. Following the sale, the chief executive officer now owns 2,184,882 shares in the company, valued at $58,707,779.34. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Viking Therapeutics news, CEO Brian Lian sold 269,079 shares of the firm’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $26.87, for a total value of $7,230,152.73. Following the sale, the chief executive officer now directly owns 2,184,882 shares of the company’s stock, valued at approximately $58,707,779.34. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Sarah Kathryn Rouan sold 25,000 shares of Viking Therapeutics stock in a transaction dated Thursday, February 8th. The shares were 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. Over the last 90 days, insiders have sold 329,079 shares of company stock valued at $8,769,653. Company insiders own 4.70% of the company’s stock.

Hedge Funds Weigh In On Viking Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Massmutual Trust Co. FSB ADV purchased a new position in shares of Viking Therapeutics in the 1st quarter worth about $25,000. Lindbrook Capital LLC raised its holdings in Viking Therapeutics by 370.7% in the first quarter. Lindbrook Capital LLC now owns 353 shares of the biotechnology company’s stock valued at $29,000 after buying an additional 278 shares during the period. LifeSteps Financial Inc. acquired a new position in Viking Therapeutics during the first quarter valued at approximately $37,000. Spire Wealth Management purchased a new stake in Viking Therapeutics during the first quarter worth approximately $61,000. Finally, Global Retirement Partners LLC increased its position in shares of Viking Therapeutics by 125.6% in the first quarter. Global Retirement Partners LLC now owns 1,015 shares of the biotechnology company’s stock worth $83,000 after acquiring an additional 565 shares in the last quarter. Institutional investors and hedge funds own 76.03% of the company’s stock.

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.