Why the Market Dipped But Viking Therapeutics, Inc. (VKTX) Gained Today

In the latest trading session, Viking Therapeutics, Inc. (VKTX) closed at $33.84, marking a +2.64% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.43%. Elsewhere, the Dow saw a downswing of 1.05%, while the tech-heavy Nasdaq depreciated by 0.92%.

Shares of the company have appreciated by 9.03% over the course of the past month, outperforming the Medical sector's loss of 1.34%, and the S&P 500's loss of 0.5%.

Market participants will be closely following the financial results of Viking Therapeutics, Inc. in its upcoming release. On that day, Viking Therapeutics, Inc. is projected to report earnings of -$1.01 per share, which would represent a year-over-year decline of 146.34%.

In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$4.09 per share and a revenue of $0 million, indicating changes of -28.21% and 0%, respectively, from the former year.

Any recent changes to analyst estimates for Viking Therapeutics, Inc. should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.

Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, there's been a 5.44% fall in the Zacks Consensus EPS estimate. 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 group has a Zacks Industry Rank of 87, putting it in the top 36% 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.

Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.

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This article originally published on Zacks Investment Research (zacks.com).

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