Thursday, January 17, 2019 5:26:07 PM
Analysts Defend Viking Therapeutics From Citron Report
Viking Therapeutics, Inc. (VKTX) shares rose more than 4% on Thursday after analysts defended the company against a bearish report from Citron Research. Earlier this week, Citron published a negative report on licensor Ligand Pharmaceuticals Incorporated (LGND), saying that Viking Therapeutics accounts for over half of Ligand's milestones. Despite the significant portion of its valuation attributable to Viking, Ligand has been repurchasing its own stock and selling its Viking Therapeutics holdings. Citron also pointed out that Viking Therapeutics insiders have been net sellers over the past year.
Raymond James analysts called the report "ridiculous" and maintained its Outperform rating and price target of $43.00 per share on Viking Therapeutics, which represents a massive premium to the current market price. At the same time, STAT's Adam Feuerstein tweeted that Citron's short thesis relies on Viking "blowing up," adding that if Viking pans out, short sellers would be "toast."
From a technical standpoint, the stock is trading down more than 65% from its 52-week highs made back in mid-September. The stock bottomed out at its then-S2 support level in mid-December before rebounding to a pivot point near $8.76. The relative strength index (RSI) remains somewhat oversold at 45.74, while the moving average convergence divergence (MACD) remains in a bullish uptrend. These indicators suggest that the stock could have more room to run higher.
Traders should watch for a breakout toward upper trendline and 200-day moving average resistance near $10.00. If the stock breaks out from these levels, traders could see a move higher toward R2 resistance at $13.45 over the coming weeks. If the stock breaks down from trendline support, traders could see a move to fresh lows near S1 support at $5.86. Traders will be keeping an eye on VK2809 and other clinical programs as well as potential acquisition possibilities.
https://www.investopedia.com/viking-therapeutics-stock-regains-ground-4584185?utm_campaign=quote-yahoo&utm_source=yahoo&utm_medium=referral&yptr=yahoo
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"PEACE"
Recent VKTX News
- Viking Therapeutics Reports First Quarter 2024 Financial Results and Provides Corporate Update • PR Newswire (US) • 04/24/2024 08:05:00 PM
- U.S. Futures Display Mixed Results Amid Earnings, WTI and Brent Crude Prices Dip in June Futures Trading • IH Market News • 04/24/2024 11:31:20 AM
- Viking Therapeutics to Report Financial Results for First Quarter 2024 on April 24, 2024 • PR Newswire (US) • 04/17/2024 08:05:00 PM
- Viking Therapeutics Announces Results from Phase 1 Clinical Trial of Oral Tablet Formulation of Dual GLP-1/GIP Receptor Agonist VK2735 • PR Newswire (US) • 03/26/2024 11:03:00 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/05/2024 12:54:02 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/05/2024 12:52:22 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 03/04/2024 09:52:52 PM
- Viking Therapeutics Announces Closing of Public Offering of Common Stock Including Full Exercise of Underwriters' Option to Purchase Additional Shares • PR Newswire (US) • 03/04/2024 09:45:00 PM
- Form 424B5 - Prospectus [Rule 424(b)(5)] • Edgar (US Regulatory) • 03/01/2024 09:13:40 PM
- Viking Therapeutics Announces Pricing of $550 Million Public Offering of Common Stock • PR Newswire (US) • 02/29/2024 01:50:00 AM
- Form 424B5 - Prospectus [Rule 424(b)(5)] • Edgar (US Regulatory) • 02/27/2024 10:21:23 PM
- Viking Therapeutics Announces Proposed Public Offering of Common Stock • PR Newswire (US) • 02/27/2024 09:19:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 02/27/2024 12:04:52 PM
- Viking Therapeutics Announces Positive Top-Line Results from Phase 2 VENTURE Trial of Dual GLP-1/GIP Receptor Agonist VK2735 in Patients with Obesity • PR Newswire (US) • 02/27/2024 12:03:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/10/2024 01:59:57 AM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 02/09/2024 09:01:11 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/09/2024 12:40:13 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/09/2024 12:38:45 AM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 02/08/2024 09:56:27 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 02/08/2024 09:33:26 PM
- Form S-8 - Securities to be offered to employees in employee benefit plans • Edgar (US Regulatory) • 02/07/2024 10:33:13 PM
- Form 10-K - Annual report [Section 13 and 15(d), not S-K Item 405] • Edgar (US Regulatory) • 02/07/2024 10:24:07 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 02/07/2024 09:09:21 PM
- Viking Therapeutics Reports Fourth Quarter and Year-End 2023 Financial Results and Provides Corporate Update • PR Newswire (US) • 02/07/2024 09:05:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/01/2024 01:39:53 AM
NanoViricides Reports that the Phase I NV-387 Clinical Trial is Completed Successfully and Data Lock is Expected Soon • NNVC • May 2, 2024 10:07 AM
ILUS Files Form 10-K and Provides Shareholder Update • ILUS • May 2, 2024 8:52 AM
Avant Technologies Names New CEO Following Acquisition of Healthcare Technology and Data Integration Firm • AVAI • May 2, 2024 8:00 AM
Bantec Engaged in a Letter of Intent to Acquire a Small New Jersey Based Manufacturing Company • BANT • May 1, 2024 10:00 AM
Cannabix Technologies to Deliver Breath Logix Alcohol Screening Device to Australia • BLO • Apr 30, 2024 8:53 AM
Hydromer, Inc. Reports Preliminary Unaudited Financial Results for First Quarter 2024 • HYDI • Apr 29, 2024 9:10 AM