Tuesday, February 12, 2019 11:40:17 AM
Viking Therapeutics, Inc. (VKTX) shares rose more than 10% on Tuesday morning after Gilead Sciences, Inc.'s (GILD) STELLAR-4 Phase III clinical trial failed to meet its primary endpoint. William Blair analysts believe that Viking Therapeutics could become a prime buyout target for Gilead if there are positive results from its Phase IIB clinical trial involving biopsy-confirmed non-alcoholic steatohepatitis (NASH) patients. The analyst firm maintained its Outperform rating on the stock.
Viking Therapeutics' VK2809 is one of only two beta-selective thyroid hormone receptor agonists in clinical trials, and it has been successful in reducing liver fat while maintaining a benign tolerability profile thus far in clinical trials. NASH is set to become one of the next epidemic-level chronic diseases facing society over the coming years, already affecting more than 16 million people, and is projected to replace hepatitis as the biggest reason for liver transplants by next year. Drugmakers are rushing to fill the void with treatment options.
From a technical standpoint, the stock has trended sideways since the beginning of the year. The recent price action has created an ascending triangle pattern without upper resistance near R1 resistance at $9.00. The relative strength index (RSI) appears neutral with a 55.77 reading, while the moving average convergence divergence (MACD) has been trending higher. These indicators suggest that the stock could have more room to run.
Traders should watch for a breakout from the ascending triangle pattern with a close above $9.00 on above-average volume. If the stock breaks out, the next major price target is R2 resistance at $9.84 and the 200-day moving average at $10.40. If the stock fails to break out, traders could see a move lower to retest lower trendline support at around $8.00 over the coming sessions. A further breakdown from those levels could lead to new lows near $7.00 or $6.50. However, the bull case appears more likely at the moment.
https://finance.yahoo.com/m/63d615d3-a977-3576-85d4-f1abc492118d/viking-therapeutics-breaks.html
GO VKTX
"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
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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