Oppenheimer Weighs in on Viking Therapeutics Inc’s FY2019 Earnings (NASDAQ:VKTX)
Viking Therapeutics Inc (NASDAQ:VKTX) – Investment analysts at Oppenheimer lifted their FY2019 earnings per share (EPS) estimates for shares of Viking Therapeutics in a report released on Tuesday, November 5th. Oppenheimer analyst J. Olson now anticipates that the biotechnology company will post earnings per share of ($0.40) for the year, up from their previous estimate of ($0.50). Oppenheimer has a “Outperform” rating and a $12.00 price objective on the stock. Oppenheimer also issued estimates for Viking Therapeutics’ Q4 2019 earnings at ($0.15) EPS, FY2020 earnings at ($0.63) EPS, FY2021 earnings at ($0.85) EPS, FY2022 earnings at ($1.15) EPS and FY2023 earnings at ($1.46) EPS.
Viking Therapeutics (NASDAQ:VKTX) last released its earnings results on Tuesday, November 5th. The biotechnology company reported ($0.08) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.13) by $0.05.
VKTX opened at $7.86 on Friday. The company’s 50 day simple moving average is $6.76 and its two-hundred day simple moving average is $7.55. Viking Therapeutics has a 1-year low of $6.15 and a 1-year high of $13.78. The firm has a market capitalization of $564.69 million, a price-to-earnings ratio of -19.65 and a beta of 2.29.
Several hedge funds have recently added to or reduced their stakes in VKTX. Vanguard Group Inc. raised its position in shares of Viking Therapeutics by 19.0% during the 2nd quarter. Vanguard Group Inc. now owns 3,699,835 shares of the biotechnology company’s stock valued at $30,709,000 after buying an additional 590,194 shares during the period. Rhenman & Partners Asset Management AB purchased a new stake in Viking Therapeutics in the second quarter valued at approximately $2,419,000. BlackRock Inc. raised its position in Viking Therapeutics by 6.8% in the second quarter. BlackRock Inc. now owns 4,395,385 shares of the biotechnology company’s stock valued at $36,482,000 after purchasing an additional 280,919 shares during the period. Nuveen Asset Management LLC purchased a new stake in Viking Therapeutics in the second quarter valued at approximately $2,312,000. Finally, SG Americas Securities LLC raised its position in Viking Therapeutics by 849.3% in the third quarter. SG Americas Securities LLC now owns 250,884 shares of the biotechnology company’s stock valued at $1,726,000 after purchasing an additional 224,456 shares during the period. 62.49% of the stock is currently owned by hedge funds and other institutional investors.
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 drug candidate is VK2809, an orally available tissue and receptor-subtype selective agonist of the thyroid hormone receptor beta, which is in Phase II clinical trials to treat patients with non-alcoholic fatty liver disease and elevated low-density lipoprotein cholesterol.
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