Viking Therapeutics Inc [NASDAQ: VKTX] stock went on an upward path that rose over 121.02% on Tuesday, amounting to a one-week price increase of more than 137.97%. The company report on February 27, 2024 at 4:19 PM that Viking Therapeutics Announces Proposed Public Offering of Common Stock.
Viking Therapeutics, Inc. (“Viking”) (Nasdaq: VKTX), a clinical-stage biopharmaceutical company focused on the development of novel therapies for metabolic and endocrine disorders, today announced that it has commenced an underwritten public offering of $350.0 million of shares of its common stock. Viking also intends to grant the underwriters a 30-day option to purchase up to an additional $52.5 million of shares of its common stock. All of the shares of common stock to be sold in the proposed offering are to be sold by Viking. The proposed offering is subject to market and other conditions, and there can be no assurance as to whether or when the proposed offering may be completed, or as to the actual size or terms of the proposed offering.
Morgan Stanley, Leerink Partners, William Blair, Raymond James, Stifel and Truist Securities are acting as joint book-running managers for the proposed offering.
Over the last 12 months, VKTX stock rose by 673.18%. The one-year Viking Therapeutics Inc stock forecast points to a potential downside of -21.34. The average equity rating for VKTX stock is currently 1.10, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $8.55 billion, with 100.11 million shares outstanding and 91.68 million shares in the current float. Compared to the average trading volume of 3.27M shares, VKTX stock reached a trading volume of 58021148 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on Viking Therapeutics Inc [VKTX]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for VKTX shares is $70.09 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on VKTX stock is a recommendation set at 1.10. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
ROTH MKM have made an estimate for Viking Therapeutics Inc shares, keeping their opinion on the stock as Buy, with their previous recommendation back on May 31, 2023. While these analysts kept the previous recommendation, Maxim Group raised their target price from $15 to $25. The new note on the price target was released on March 28, 2023, representing the official price target for Viking Therapeutics Inc stock. Previously, the target price had yet another raise to $22, while Stifel analysts kept a Buy rating on VKTX stock.
The Average True Range (ATR) for Viking Therapeutics Inc is set at 5.96 The Price to Book ratio for the last quarter was 24.44, with the Price to Cash per share for the same quarter was set at 3.60.
VKTX Stock Performance Analysis:
Viking Therapeutics Inc [VKTX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 137.97. With this latest performance, VKTX shares gained by 297.99% in over the last four-week period, additionally plugging by 524.45% over the last 6 months – not to mention a rise of 673.18% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for VKTX stock in for the last two-week period is set at 95.70, with the RSI for the last a single of trading hit 97.28, and the three-weeks RSI is set at 94.06 for Viking Therapeutics Inc [VKTX]. The present Moving Average for the last 50 days of trading for this stock 25.28, while it was recorded at 46.36 for the last single week of trading, and 17.70 for the last 200 days.
Insight into Viking Therapeutics Inc Fundamentals:
Viking Therapeutics Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 19.19 and a Current Ratio set at 19.19.
VKTX Stock EPS
With the latest financial reports released by the company, Viking Therapeutics Inc posted -0.25/share EPS, while the average EPS was predicted by analysts to be reported at -0.24/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -4.20%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for VKTX. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Viking Therapeutics Inc go to 40.00%.
Viking Therapeutics Inc [VKTX] Institutonal Ownership Details
The top three institutional holders of VKTX stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in VKTX stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in VKTX stock with ownership which is approximately 5.8325%.
