Why Viking Therapeutics, Inc. (VKTX) Dipped More Than Broader Market Today

Viking Therapeutics, Inc. (VKTX) closed at $32.17 in the latest trading session, marking a -1.17% move from the prior day. This change lagged the S&P 500's daily loss of 0.37%. On the other hand, the Dow registered a loss of 0.18%, and the technology-centric Nasdaq decreased by 0.84%.

Shares of the company have depreciated by 5.54% over the course of the past month, outperforming the Medical sector's loss of 8.47%, and lagging the S&P 500's loss of 3.7%.

The investment community will be closely monitoring the performance of Viking Therapeutics, Inc. in its forthcoming earnings report. On that day, Viking Therapeutics, Inc. is projected to report earnings of -$1.01 per share, which would represent a year-over-year decline of 146.34%.

In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$4.15 per share and a revenue of $0 million, indicating changes of -30.09% and 0%, respectively, from the former year.

Investors might also notice recent changes to analyst estimates for Viking Therapeutics, Inc. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.

Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.

The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 1.53% lower. Viking Therapeutics, Inc. is currently sporting a Zacks Rank of #3 (Hold).

The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 146, which puts it in the bottom 41% of all 250+ industries.

The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.

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Viking Therapeutics, Inc. (VKTX): Free Stock Analysis Report

This article originally published on Zacks Investment Research (zacks.com).

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