It has been a few month for the reason that final earnings report for Viking Therapeutics, Inc. (VKTX). Shares have misplaced about 29.5% in that time-frame, underperforming the S&P 500.
Will the latest destructive development proceed main as much as its subsequent earnings launch, or is Viking Therapeutics due for a breakout? Earlier than we dive into how traders and analysts have reacted as of late, let’s take a fast have a look at its most up-to-date earnings report in an effort to get a greater deal with on the necessary catalysts.
Narrower-Than-Anticipated Q3 Loss, Nil Gross sales
Viking reported a third-quarter 2024 loss per share of twenty-two cents, narrower than the Zacks Consensus Estimate of a lack of 24 cents. The corporate had incurred a lack of 23 cents per share within the year-ago quarter.
As the corporate lacks any marketed product in its portfolio, it didn’t file any revenues throughout the quarter.
Quarter in Element
Analysis and improvement bills totaled $22.8 million, up 24% 12 months over 12 months. The uptick was primarily on account of elevated manufacturing bills for the corporate’s drug candidates, together with greater employee-related prices.
Normal and administrative bills amounted to $13.8 million, up 55% 12 months over 12 months, primarily on account of greater employee-related bills, authorized charges and providers supplied by third-party consultants.
As of Sept. 30, 2024, Viking Therapeutics had money, money equivalents and short-term investments value $930 million in contrast with $942 million as of June 30, 2024
How Have Estimates Been Shifting Since Then?
It seems, estimates overview have trended upward throughout the previous month.
VGM Scores
At present, Viking Therapeutics has a poor Development Rating of F, nevertheless its Momentum Rating is doing lots higher with a C. Following the very same course, the inventory was allotted a grade of C on the worth aspect, placing it within the center 20% for this funding technique.
General, the inventory has an mixture VGM Rating of D. If you happen to aren’t centered on one technique, this rating is the one you ought to be enthusiastic about.
Outlook
Estimates have been trending upward for the inventory, and the magnitude of those revisions has been internet zero. Notably, Viking Therapeutics has a Zacks Rank #3 (Maintain). We anticipate an in-line return from the inventory within the subsequent few months.
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Viking Therapeutics, Inc. (VKTX) : Free Stock Analysis Report
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