Viking Therapeutics VKTX Stock Forecast 2023

Viking Therapeutics VKTX Stock Forecast 2023: Read about short-term and long-term VKTX Stock Predictions.

Latest Price

Viking Therapeutics, Inc., a clinical-stage biopharmaceutical company, focuses on the development of novel therapies for metabolic and endocrine disorders. The company’s lead drug candidate is VK2809. The company was incorporated in 2012 and is headquartered in San Diego, California. Viking Therapeutics Inc. is an innovative biotechnology company developing novel therapeutics for metabolic and endocrine diseases. Metabolic and rare disease programs include novel selective thyroid receptor-β agonist approaches. These and other programs are currently within phases 1, 2, and preclinical. Viking Therapeutics saw IPO back in 2015. Since then, investors can trade it under the ticker $VKTX at NASDAQ.

Performance of VKTX Stock

  • 1 M: +42.8%
  • 6 M: +500.1%
  • 12 M: +400.9%

VKTX Stock Forecast for the Next 12 Months

Average VKTX Stock Forecast for the Next 12 Months$28.4
Roth MKM$19
Maxim Group$25
Truist Securities$32
Raymond James$35

Viking Therapeutics VKTX Stock Forecast 2023: Latest News

Following the release of positive clinical data for VK2735, a novel dual agonist of the glucose-dependent insulinotropic polypeptide (GIP) and glucagon-like peptide 1 (GLP-1) receptors for the treatment of various metabolic disorders, Viking Therapeutics’ stock price increased by almost 70% on March 28. Also, the business has begun an early-stage extension study on VK2735.

98% of adverse events were mild to moderate generally, according to safety statistics, although one person who got VK2735 experienced a significant adverse event (SAE). An SAE of gallstone blockage occurred in a person who had a history of gallstones.

VKTX Stock Forecast 2023: Technical Analysis

Viking Therapeutics stock has been surging for the last 2 trading days. The reason being the surge is the positive result shown in the early trials of its obesity therapy. Viking Therapeutics is focused on treating metabolic and endocrine disorders. On Wednesday Viking released the Phase 1 trial result of its experimental drug VK2735. The result showed that among the 88 patients who participated in the trial, the therapy led to a 6% reduction in mean weight compared to a placebo.

Soon after the news, the stocks of Viking Therapeutics skyrocket in an anticipation of the drug’s potential earnings.

Technically VKTX stock is highly bullish on the 4-hour timeframe chart. The stock price is marginally below its 5-year high of $18.42. In 2018, VKTX stocks retreated below $10 after briefly touching its ATH.

The net stock price is now above both the 50-day as well as the 200-day Moving Averages. For VKTX stock, the 200-day MA which is at around $8.20 is a crucial support. The buyers have been able to keep the stock price above this level. The resistance is the price level at $18.42. If VKTX breaks above it, the stock will likely be pushed above $20 by the buyers.

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The relative strength index is 81.52, indicating that the momentum oscillators are in the stock’s favor. Technically VKTX is overbought and it signifies a likely reversal. However, RSI overbought is not a confirmation of the reversal, it must be coupled with multiple indicators to conclude.

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The Stoch RSI for VKTX is also overbought with the buyers outnumbering the sellers. The current momentum suggests the stock will likely rise higher on the next trading day.

The MACD indicator for the VKTX stock is throwing a buy signal. The MACD line is above the signal line. The volume bars have increased on the bullish axis. It is a buy signal.

Overall the stock is highly bullish.

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VKTX Stock Forecast 2023: Fundamentals

Chief Executive Brian Lian stated that “our success during 2022 has positioned Viking for an exciting year in 2023, and we intend to present results from all three of our ongoing clinical studies this year.”

At year’s end, Viking (VKTX) reported $155.4M in cash and equivalents, indicating a drop of almost 23% YoY.

Revenue: In the fourth quarter of 2022, Viking Therapeutics, Inc.’s revenue was $0Mn, down -100% from the same quarter prior year. The revenue of Viking Therapeutics, Inc. has increased from the previous three months on a quarterly growth basis.

Net Profits: In the Q4 2022, Viking Therapeutics, Inc.’s net profit decreased -58.3% from the same time the previous year to $-19.56Mn. In terms of quarterly growth, Viking Therapeutics, Inc.’s net earnings have decreased by -24% over the last three months.

Viking Therapeutics, Inc. is estimated to report earnings on 04/26/2023. According to Zacks Investment Research, based on 7 analysts’ forecasts, the consensus EPS forecast for the quarter is $-0.24. The reported EPS for the same quarter last year was $-0.21.

Viking Therapeutics VKTX Stock Forecast 2023: Macros

The size of the worldwide biotechnology market was forecast to be USD 1,023.92 billion in 2021, and from 2022 to 2030, it is anticipated to expand at a CAGR of 13.9%. Government activities aimed at modernizing the regulatory framework, enhancing approval procedures and reimbursement practices, and standardizing clinical studies all contribute to the market’s growth. Personalized medicine’s expanding influence and the rise in orphan drug formulations are creating new opportunities for biotechnology applications and attracting a wave of cutting-edge startups, which is helping to raise market revenue.

The market growth is being majorly impacted by Therapeutics and Regeneron. The market is expected to grow as demand for clinical treatments for chronic diseases such as cancer, diabetes, age-related macular degeneration, and practically all types of arthritis rise.

VKTX Stock Forecast 2023: Analysts’ Price Targets

  1. CNN: The analysts offering 12-month price forecasts for Viking Therapeutics Inc have a median target of 27.50, with a high estimate of 35.00 and a low estimate of 19.00. The median estimate represents a +71.55% increase from the last price of 16.03.
  2. Tipranks: Based on 7 Wall Street analysts offering 12-month price targets for Viking Therapeutics in the last 3 months. The average price target is $21.83 with a high forecast of $30.00 and a low forecast of $12.00. The average price target represents a 36.27% change from the last price of $16.02.
  3. NASDAQ: Based on analysts offering 12-month price targets for VKTX in the last 3 months. The average price target is $25.56 with a high estimate of $35 and a low estimate of $12.

Author: Pratyush Mengi

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Note: Crowdwisdom360 collates Predictions and data from all over the net and has no in-house view on the likely trends in the Stocks or Crypto Coins. Please consult a registered investment advisor to guide you on your financial decisions.

Viking Therapeutics VKTX Stock Forecast 2023