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
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/21/2024 01:20:57 AM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 09/20/2024 08:29:51 PM
- Viking Therapeutics to Participate at Morgan Stanley 22nd Annual Global Healthcare Conference • PR Newswire (US) • 08/28/2024 08:03:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/22/2024 11:23:58 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 08/21/2024 08:30:12 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/20/2024 12:13:31 AM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 08/20/2024 12:00:06 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 07/31/2024 08:05:07 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 07/31/2024 08:05:07 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 07/30/2024 09:56:42 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 07/30/2024 09:55:09 PM
- Earnings Updates: Ford Shares Fall 13% on EPS Miss, Stellantis Down 6%, Viking Therapeutics Up 20%, Unilever Up 5% • IH Market News • 07/25/2024 10:19:48 AM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 07/24/2024 09:00:23 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 07/24/2024 08:10:08 PM
- Viking Therapeutics Reports Second Quarter 2024 Financial Results and Provides Corporate Update • PR Newswire (US) • 07/24/2024 08:05:00 PM
- US Index Futures Fall Amid Tech Giant Earnings, Oil Prices Rise • IH Market News • 07/24/2024 09:55:54 AM
- Viking Therapeutics to Report Financial Results for Second Quarter 2024 on July 24, 2024 • PR Newswire (US) • 07/17/2024 08:05:00 PM
- Viking Therapeutics Presents Preclinical Data on Novel Dual Amylin and Calcitonin Receptor Agonists at 84th Scientific Sessions of the American Diabetes Association • PR Newswire (US) • 06/24/2024 11:33:00 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 06/04/2024 11:10:11 AM
- Viking Therapeutics Announces Positive 52-Week Histologic Data from Phase 2b VOYAGE Study of VK2809 in Patients with Biopsy-Confirmed Non-Alcoholic Steatohepatitis (NASH) • PR Newswire (US) • 06/04/2024 11:05:00 AM
- Viking Therapeutics to Participate at Upcoming Investor Conferences • PR Newswire (US) • 05/30/2024 08:03:00 PM
- Form S-8 POS - Securities to be offered to employees in employee benefit plans, post-effective amendments • Edgar (US Regulatory) • 05/22/2024 09:12:36 PM
- Form S-8 - Securities to be offered to employees in employee benefit plans • Edgar (US Regulatory) • 05/22/2024 08:33:26 PM
- 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
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