Viking Therapeutics (NASDAQ:VKTX) Stock Crosses Above 50 Day Moving Average – Here’s What Happened

Viking Therapeutics, Inc. (NASDAQ:VKTX) passed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $33.51 and traded as high as $38.08. Viking Therapeutics shares last traded at $37.95, with a volume of 1,786,337 shares traded.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Wolfe Research initiated coverage on Viking Therapeutics in a report on Thursday, March 26th. They set a “peer perform” rating on the stock. BTIG Research reaffirmed a “buy” rating and set a $125.00 target price on shares of Viking Therapeutics in a research note on Friday, May 1st. Truist Financial initiated coverage on Viking Therapeutics in a research note on Wednesday, May 27th. They issued a “buy” rating and a $83.00 price target for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Viking Therapeutics in a research note on Friday. Finally, Morgan Stanley set a $95.00 target price on shares of Viking Therapeutics in a research report on Thursday, April 30th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Viking Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $93.60.

Viking Therapeutics Stock Up 4.3%

The stock has a market capitalization of $4.41 billion, a P/E ratio of -9.17 and a beta of 0.66. The firm’s 50-day simple moving average is $33.51 and its 200 day simple moving average is $32.89.

Viking Therapeutics (NASDAQ:VKTX) last posted its quarterly earnings data on Thursday, April 30th. The biotechnology company reported ($1.37) earnings per share for the quarter, missing the consensus estimate of ($1.01) by ($0.36). During the same quarter in the prior year, the company posted ($0.41) EPS. As a group, equities analysts anticipate that Viking Therapeutics, Inc. will post -4.7 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in VKTX. Raleigh Capital Management Inc. increased its position in Viking Therapeutics by 58.0% in the 4th quarter. Raleigh Capital Management Inc. now owns 945 shares of the biotechnology company’s stock worth $33,000 after purchasing an additional 347 shares during the last quarter. E Fund Management Co. Ltd. lifted its holdings in shares of Viking Therapeutics by 2.4% during the 2nd quarter. E Fund Management Co. Ltd. now owns 17,580 shares of the biotechnology company’s stock valued at $466,000 after buying an additional 406 shares during the last quarter. Prospera Financial Services Inc lifted its holdings in shares of Viking Therapeutics by 5.1% during the 4th quarter. Prospera Financial Services Inc now owns 9,365 shares of the biotechnology company’s stock valued at $329,000 after buying an additional 455 shares during the last quarter. Assetmark Inc. grew its stake in shares of Viking Therapeutics by 13.6% in the 1st quarter. Assetmark Inc. now owns 3,870 shares of the biotechnology company’s stock valued at $126,000 after buying an additional 462 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its stake in shares of Viking Therapeutics by 29.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,109 shares of the biotechnology company’s stock valued at $56,000 after buying an additional 481 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 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.