Viking Therapeutics Inc. (NASDAQ: VKTX) stock fell -0.46% on Friday to $8.68 against a previous-day closing price of $8.72. With 1.99 million shares changed hands, the volume of the stock remained lighter than its average volume of 3.51 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $8.84 whereas the lowest price it dropped to was $8.47. The 52-week range on VKTX shows that it touched its highest point at $9.62 and its lowest point at $2.02 during that stretch. It currently has a 1-year price target of $18.33. Beta for the stock currently stands at 0.80.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of VKTX was down-trending over the past week, with a drop of -1.03%, but this was up by 24.18% over a month. Three-month performance surged to 144.51% while six-month performance rose 144.51%. The stock gained 115.92% in the past year, while it has lost -7.66% so far this year. A look at the trailing 12-month EPS for VKTX yields -0.80 with Next year EPS estimates of -0.98. For the next quarter, that number is -0.23. This implies an EPS growth rate of -30.90% for this year and -11.40% for next year. EPS is expected to grow by 40.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 4.70%.
Float and Shares Shorts:
At present, 76.50 million VKTX shares are outstanding with a float of 67.77 million shares on hand for trading. On Oct 13, 2022, short shares totaled 1.79 million, which was 2.33% higher than short shares on Sep 14, 2022. In addition to Dr. Brian Lian Ph.D. as the firm’s Pres, CEO & Director, Mr. Gregory S. Zante serves as its Chief Financial Officer.
Through their ownership of 35.85% of VKTX’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 8.85% of VKTX, in contrast to 29.05% held by mutual funds. Shares owned by individuals account for 12.98%. As the largest shareholder in VKTX with 6.30% of the stake, Millennium Management LLC holds 4,829,200 shares worth 4,829,200. A second-largest stockholder of VKTX, The Vanguard Group, Inc., holds 3,300,423 shares, controlling over 4.30% of the firm’s shares. Balyasny Asset Management LP is the third largest shareholder in VKTX, holding 2,673,564 shares or 3.49% stake. With a 2.91% stake in VKTX, the Vanguard Total Stock Market Index is the largest stakeholder. A total of 2,231,261 shares are owned by the mutual fund manager. The Vanguard Extended Market Index Fu, which owns about 1.24% of VKTX stock, is the second-largest Mutual Fund holder. It holds 953,278 shares valued at 8.96 million. Fidelity Extended Market Index Fu holds 0.44% of the stake in VKTX, owning 333,971 shares worth 3.14 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for VKTX since 10 analysts follow the stock currently. There are 9 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 0 believe that the stock is worth HOLDING, 1 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With VKTX analysts setting a high price target of $30.00 and a low target of $11.00, the average target price over the next 12 months is $18.33. Based on these targets, VKTX could surge 245.62% to reach the target high and rise by 26.73% to reach the target low. Reaching the average price target will result in a growth of 111.18% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. VKTX will report FY 2022 earnings on 02/08/2024. Analysts have provided yearly estimates in a range of -$0.85 being high and -$0.92 being low. For VKTX, this leads to a yearly average estimate of -$0.88. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Viking Therapeutics Inc. surprised analysts by $0.02 when it reported -$0.21 EPS against a consensus estimate of -$0.23. The surprise factor in the prior quarter was -$0.02. Based on analyst estimates, the high estimate for the next quarter is -$0.21 and the low estimate is -$0.28. The average estimate for the next quarter is thus -$0.23.
Summary of Insider Activity:
Insiders traded VKTX stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 1 while that of sell transactions has remained unmoved to 0 over the past year. The total number of shares bought during that period was 45,000 while 0 shares were sold.