Viking Therapeutics Inc (VKTX) Short Interest Up 12.2% in October

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Viking Therapeutics Inc (NASDAQ:VKTX) was the recipient of a large 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 days-to-cover ratio is currently 7.6 days. Approximately 40.3% of the shares of the stock are short sold.

Viking Therapeutics stock opened at $12.33 on Friday. Viking Therapeutics has a 1 year low of $2.24 and a 1 year high of $24.00. The stock has a market cap of $833.44 million, a price-to-earnings ratio of -15.61 and a beta of 2.92.

Viking Therapeutics (NASDAQ:VKTX) last released its earnings results on Thursday, November 8th. The biotechnology company reported ($0.11) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.01. Equities research analysts anticipate that Viking Therapeutics will post -0.44 earnings per share for the current year.

A number of brokerages have commented on VKTX. Raymond James set a $43.00 price objective on shares of Viking Therapeutics and gave the stock a “buy” rating in a report on Wednesday, September 19th. SunTrust Banks increased their price objective on shares of Viking Therapeutics to $28.00 and gave the stock a “buy” rating in a report on Wednesday, September 19th. Roth Capital increased their price objective on shares of Viking Therapeutics from $13.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, September 19th. Maxim Group reissued a “buy” rating and set a $28.00 price objective (up previously from $14.00) on shares of Viking Therapeutics in a report on Tuesday, September 18th. Finally, HC Wainwright set a $28.00 price objective on shares of Viking Therapeutics and gave the stock a “buy” rating in a report on Tuesday, September 18th. One analyst has rated the stock with a sell rating, one has given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Viking Therapeutics presently has a consensus rating of “Buy” and an average target price of $28.17.

In other Viking Therapeutics news, major shareholder Ligand Pharmaceuticals Inc sold 262,881 shares of the 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 document filed with the SEC, which is accessible through this link. 3.90% of the stock is owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the business. First Mercantile Trust Co. acquired a new position in Viking Therapeutics during the 3rd quarter valued at about $131,000. Janney Montgomery Scott LLC acquired a new position in Viking Therapeutics during the 2nd quarter valued at about $114,000. Strs Ohio acquired a new position in Viking Therapeutics during the 2nd quarter valued at about $120,000. Cubist Systematic Strategies LLC acquired a new position in Viking Therapeutics during the 2nd quarter valued at about $129,000. Finally, State Board of Administration of Florida Retirement System acquired a new position in Viking Therapeutics during the 2nd quarter valued at about $144,000. Institutional investors own 53.56% of the company’s stock.

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Viking Therapeutics Company Profile

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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