Viking Therapeutics, Inc. (VKTX) Stock Drops Despite Market Gains: Important Facts to Note

Viking Therapeutics, Inc. (VKTX) closed at $28.59 in the latest trading session, marking a -1.26% move from the prior day. The stock's performance was behind the S&P 500's daily gain of 0.38%. On the other hand, the Dow registered a gain of 0.24%, and the technology-centric Nasdaq increased by 0.24%. Prior to today's trading, shares of the company had gained 8.96% outpaced the Medical sector's gain of 4.64% and the S&P 500's gain of 6.6%.The investment community will be paying close attention to the earnings performance of Viking Therapeutics, Inc. in its upcoming release. The company is expected to report EPS of -$0.44, down 120% from the prior-year quarter. Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$1.86 per share and revenue of $25 million, indicating changes of -84.16% and 0%, respectively, compared to the previous year. Investors should also note any recent changes to analyst estimates for Viking Therapeutics, Inc. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential. Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system. The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Right now, Viking Therapeutics, Inc. possesses 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 74, which puts it in the top 31% of all 250+ industries. The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1. Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions. 5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Viking Therapeutics, Inc. (VKTX): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks