SSgA Funds Management, Inc. recently announced the acquisition of new stake in Viking Therapeutics Inc. (NASDAQ:VKTX). The institutional investor has increased its shareholding in the Healthcare company by 17.43% to 4.28 million shares with purchase of 0.63 million shares. This fresh investment now brings its stake to 5.88% valued currently at $30.02 million. In addition, The Vanguard Group, Inc. raised its holdings by 43348.0 to 3.28 million shares. And Northern Trust Investments, Inc.(.. has lifted its position by 77.99% or 0.62 million shares – to 1.42 million shares.
With over 1.44 million Viking Therapeutics Inc. (VKTX) shares trading Monday and a closing price of $6.69 on the day, the dollar volume was approximately $9.66 million. The shares have shown a negative weekly performance of -14.23% and its price on 08/31/20 lost nearly -2.05%. Currently, there are 72.49M common shares owned by the public and among those 63.36M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 14 analysts who have offered their price forecasts for VKTX have a consensus price objective of $19.23. The analysts have set the share’s price value over the next 12 months at a high of $40.00 and a low of $12.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Viking Therapeutics Inc. stock is 1.60 for the next 12 months. But an upside of 83.28% will see the stock hit the forecast high price target while mean target price for the stock is $18.00.
Insiders at the company have transacted a total of 7 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 1 of these insider trades were purchases, accounting for 153,333 shares. Insider sales of the common stock occurred on 6 occasions, with total insider shares sold totaling 189,509 shares.
The top 3 mutual fund holders in Viking Therapeutics Inc. are SPDR S&P Biotech ETF, Vanguard Explorer Fund, and Vanguard Total Stock Market Index. SPDR S&P Biotech ETF owns 3.19 million shares of the company’s stock, all valued at over $22.41 million. The company sold 31983.0 shares recently to bring their total holdings to about 4.39% of the shares outstanding. Vanguard Total Stock Market Index now owns shares totaling to 2.56% of the shares outstanding.
Shares of Viking Therapeutics Inc. (NASDAQ: VKTX) opened at $6.98, up $0.15 from a prior closing price of $6.83. However, the script later closed the day at $6.69, down -2.05%. The company’s stock has a 5-day price change of -14.23% and -10.20% over the past three months. VKTX shares are trading -16.58% year to date (YTD), with the 12-month market performance down to -3.74% lower. It has a 12-month low price of $3.26 and touched a high of $8.87 over the same period. Currently, 1.44 million shares have been traded, compared to an average intraday trading volume of 1.35 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -11.93%, -8.20%, and -1.45% respectively.
Institutional ownership of Viking Therapeutics Inc. (NASDAQ: VKTX) shares accounts for 57.20% of the company’s 72.49M shares outstanding. Mutual fund holders own 27.11%, while other institutional holders and individual stakeholders account for 29.39% and 12.06% respectively.
It has a market capitalization of $530.18M and a beta (3y monthly) value of 2.06. The earnings-per-share (ttm) stands at -$0.45. Price movements for the stock have been influenced by the stock’s volatility, which stands at 7.28% over the week and 4.73% over the month.
Analysts forecast that Viking Therapeutics Inc. (VKTX) will achieve an EPS of -$0.15 for the current quarter, -$0.17 for the next quarter and -$0.82 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.2 while analysts give the company a high EPS estimate of -$0.13. Comparatively, EPS for the current quarter was -$0.08 a year ago. Earnings per share for the fiscal year are expected to increase by 6.50%, and -39.00% over the next financial year. EPS should grow at an annualized rate of 40.00% over the next five years, compared to 32.40% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 14 brokerage firm advisors rate Viking Therapeutics Inc. (VKTX) as a “Strong Buy” at a consensus score of 1.60. Specifically, 14 Wall Street analysts polled rate the stock as a buy, while 0 of the 14 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the VKTX, a number of firms have released research notes about the stock. BMO Capital Markets stated their Outperform rating for the stock in a research note on June 05, 2020, with the firm’s price target at $14. Chardan Capital Markets coverage for the Viking Therapeutics Inc. (VKTX) stock in a research note released on May 05, 2020 offered a Buy rating with a price target of $15. BTIG Research was of a view on May 01, 2020 that the stock is Buy, while Oppenheimer gave the stock Outperform rating on July 16, 2019, issuing a price target of $12. Stifel on their part issued Buy rating on June 25, 2019.