Viking Thera Down 7.17% To $9.90 After Earnings Miss

Viking Therapeutics Inc (VKTX) missed earnings estimates for Q3 2023 this afternoon.

Viking Thera's earnings came in at an EPS loss of $0.23 per share, 5% lower than estimates for an EPS loss of $0.22 per share. The firm's loss per share expanded by 10% since reporting a loss of $0.21 per share a year ago.

Viking Thera reported Q3 2023 revenue of $0.00. The $0.00 (0%) negative revenue surprise led to 0% growth year-over-year as the firm reported revenue of $0.00 in its year-ago quarter. The lower earnings growth compared to revenue points to Viking Thera not being able to improve its profit margin.

The stock is down 7.17% to $9.90 after the report.

The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.

Wall Street Analysts had an average rating of Strong Buy on the stock prior to the report.

InvestorsObserver gives the stock a Bullish Sentiment score at the moment based on recent trading.

Viking Thera has performed a little above average during the past few months. Before the report, Viking Thera received a Long-Term Technical Rank by InvestorsObserver of 59, putting it in the top half of stocks. The firm set a 52-week high on May 23, 2023 at $25.72 and set a 52-week low on December 12, 2022 at $3.54.

Viking Therapeutics Inc is a healthcare service provider. The company specializes in the area of biopharmaceutical development focused on metabolic and endocrine disorders. The company's clinical program pipeline consists of VK2809, VK5211, VK0214 products. VK2809 and VK0214 are orally available, tissue and receptor-subtype selective agonist of the thyroid hormone receptor beta. VK5211 is an orally available, non-steroidal selective androgen receptor modulator.