FY2029 Earnings Estimate for VKTX Issued By Leerink Partnrs

Viking Therapeutics, Inc. (NASDAQ:VKTX) – Equities researchers at Leerink Partnrs dropped their FY2029 earnings estimates for Viking Therapeutics in a research note issued on Thursday, October 23rd. Leerink Partnrs analyst T. Smith now expects that the biotechnology company will post earnings per share of $5.13 for the year, down from their prior forecast of $5.16. The consensus estimate for Viking Therapeutics’ current full-year earnings is ($1.56) per share.

A number of other research analysts also recently weighed in on the company. Raymond James Financial decreased their price target on Viking Therapeutics from $125.00 to $122.00 and set a “strong-buy” rating for the company in a research note on Thursday, July 24th. B. Riley upgraded Viking Therapeutics to a “strong-buy” rating in a research note on Thursday. Zacks Research downgraded Viking Therapeutics from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 21st. JPMorgan Chase & Co. decreased their price objective on shares of Viking Therapeutics from $80.00 to $75.00 and set an “overweight” rating for the company in a research report on Friday. Finally, Morgan Stanley lifted their price objective on shares of Viking Therapeutics from $98.00 to $102.00 and gave the company an “overweight” rating in a research report on Thursday. Three investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Viking Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $85.62.

Viking Therapeutics Price Performance

Shares of NASDAQ VKTX opened at $34.42 on Friday. The business has a 50-day moving average of $28.57 and a 200-day moving average of $28.79. The stock has a market capitalization of $3.87 billion, a price-to-earnings ratio of -16.24 and a beta of 0.64. Viking Therapeutics has a fifty-two week low of $18.92 and a fifty-two week high of $81.73.

Viking Therapeutics (NASDAQ:VKTX) last released its earnings results on Wednesday, October 22nd. The biotechnology company reported ($0.81) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.14). During the same quarter last year, the company earned ($0.22) EPS. The business’s revenue for the quarter was up .0% on a year-over-year basis.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Allworth Financial LP grew its stake in Viking Therapeutics by 58.4% in the 2nd quarter. Allworth Financial LP now owns 955 shares of the biotechnology company’s stock valued at $25,000 after buying an additional 352 shares during the last quarter. Glass Jacobson Investment Advisors llc acquired a new stake in Viking Therapeutics during the second quarter worth approximately $28,000. Quarry LP lifted its position in Viking Therapeutics by 1,621.4% during the first quarter. Quarry LP now owns 1,205 shares of the biotechnology company’s stock worth $29,000 after acquiring an additional 1,135 shares during the last quarter. Elevation Point Wealth Partners LLC acquired a new stake in Viking Therapeutics during the second quarter worth approximately $29,000. Finally, Avion Wealth lifted its position in Viking Therapeutics by 1,157.0% during the third quarter. Avion Wealth now owns 1,521 shares of the biotechnology company’s stock worth $39,000 after acquiring an additional 1,400 shares during the last quarter. Institutional investors 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.