Viking Therapeutics Inc (VKTX) Sees Significant Increase in Short Interest
Viking Therapeutics Inc (NASDAQ:VKTX) saw a significant increase in short interest during the month of October. As of October 31st, there was short interest totalling 22,218,913 shares, an increase of 12.2% from the October 15th total of 19,809,519 shares. Based on an average trading volume of 2,924,213 shares, the short-interest ratio is presently 7.6 days. Approximately 40.3% of the shares of the stock are short sold.
A number of research firms have recently weighed in on VKTX. Raymond James set a $43.00 price objective on shares of Viking Therapeutics and gave the company a “buy” rating in a research report on Wednesday, September 19th. SunTrust Banks boosted their price objective on shares of Viking Therapeutics to $28.00 and gave the company a “buy” rating in a research report on Wednesday, September 19th. Roth Capital boosted their price objective on shares of Viking Therapeutics from $13.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, September 19th. Maxim Group reissued a “buy” rating and issued a $28.00 price objective (up previously from $14.00) on shares of Viking Therapeutics in a research report on Tuesday, September 18th. Finally, HC Wainwright set a $28.00 price objective on shares of Viking Therapeutics and gave the company a “buy” rating in a research report on Tuesday, September 18th. One research analyst has rated the stock with a sell rating, one has given a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $28.00.
In other Viking Therapeutics news, major shareholder Ligand Pharmaceuticals Inc sold 262,881 shares of Viking Therapeutics stock in a transaction dated Tuesday, September 25th. The shares were sold at an average price of $19.15, for a total transaction of $5,034,171.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 3.90% of the company’s stock.
NASDAQ:VKTX opened at $12.33 on Friday. The company has a market capitalization of $851.64 million, a PE ratio of -15.61 and a beta of 2.92. Viking Therapeutics has a 1-year low of $2.24 and a 1-year high of $24.00.
Viking Therapeutics (NASDAQ:VKTX) last released its earnings results on Friday, November 9th. The biotechnology company reported ($0.11) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.01. Analysts forecast that Viking Therapeutics will post -0.44 EPS for the current year.
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About Viking Therapeutics
Viking Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on the development of novel therapies for metabolic and endocrine disorders. Its lead clinical program, VK5211, is an orally available, non-steroidal selective androgen receptor modulator in Phase II development for the treatment of patients recovering from non-elective hip fracture surgery; in Phase I clinical trials for improving lean body mass; and in pre-clinical trial for improving bone mineral density, bone mineral content, bone strength, and other measures.
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