Viking Therapeutics Inc [NASDAQ: VKTX] gained 10.60% on the last trading session, reaching $85.22 price per share at the time. The company report on February 28, 2024 at 8:50 PM that Viking Therapeutics Announces Pricing of $550 Million 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 the pricing of its underwritten public offering of 6,471,000 shares of its common stock at a price to the public of $85.00 per share. The gross proceeds from the offering, before deducting underwriting discounts and commissions and offering expenses, are expected to be approximately $550.0 million. Viking has also granted the underwriters a 30-day option to purchase up to 970,650 additional shares of its common stock. All of the shares of common stock in the offering are to be sold by Viking. The offering is expected to close on or about March 4, 2024, subject to the satisfaction of customary closing conditions.
Morgan Stanley, Leerink Partners, William Blair, Raymond James, Stifel and Truist Securities are acting as joint book-running managers for the offering. Oppenheimer & Co. is acting as lead manager for the offering. BTIG, H.C. Wainwright & Co., Maxim Group LLC and Laidlaw & Company (U.K.) Ltd. are acting as co-managers for the offering.
If compared to the average trading volume of 5.10M shares, VKTX reached a trading volume of 13105174 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about 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 $99.69 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.
Oppenheimer have made an estimate for Viking Therapeutics Inc shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on February 28, 2024. While these analysts kept the previous recommendation, ROTH MKM raised their target price to Buy. The new note on the price target was released on May 31, 2023, representing the official price target for Viking Therapeutics Inc stock. Previously, the target price had yet another raise from $15 to $25, while Maxim Group kept a Buy rating on VKTX stock.
The Average True Range (ATR) for Viking Therapeutics Inc is set at 7.71 The Price to Book ratio for the last quarter was 24.49, with the Price to Cash per share for the same quarter was set at 3.60.
Trading performance analysis for VKTX stock
Viking Therapeutics Inc [VKTX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 127.74. With this latest performance, VKTX shares gained by 253.02% in over the last four-week period, additionally plugging by 523.18% over the last 6 months – not to mention a rise of 648.20% 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 77.51, with the RSI for the last a single of trading hit 76.51, and the three-weeks RSI is set at 77.80 for Viking Therapeutics Inc [VKTX]. The present Moving Average for the last 50 days of trading for this stock 29.27, while it was recorded at 76.06 for the last single week of trading, and 18.65 for the last 200 days.
Viking Therapeutics Inc [VKTX]: A deeper dive into fundamental analysis
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.
Viking Therapeutics Inc [VKTX]: An earnings per share (EPS) analysis
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%.
An analysis of Institutional ownership at Viking Therapeutics Inc [VKTX]
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%.
