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

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Viking Therapeutics, Inc. (VKTX - Free Report) closed the latest trading day at $50.12, indicating a +0.56% change from the previous session's end. The stock's performance was ahead of the S&P 500's daily loss of 0.78%. At the same time, the Dow lost 1.29%, and the tech-heavy Nasdaq lost 0.7%.

The company's stock has dropped by 1.58% in the past month, falling short of the Medical sector's gain of 2.23% and the S&P 500's gain of 2.14%.

Market participants will be closely following the financial results of Viking Therapeutics, Inc. in its upcoming release. The company plans to announce its earnings on July 24, 2024. The company is predicted to post an EPS of -$0.26, indicating a 36.84% decline compared to the equivalent quarter last year.

Any recent changes to analyst estimates for Viking Therapeutics, Inc. should also be noted by investors. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, there's been a 2.52% fall in the Zacks Consensus EPS estimate. Viking Therapeutics, Inc. is currently sporting a Zacks Rank of #3 (Hold).

The Medical - Biomedical and Genetics industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 70, positioning it in the top 28% of all 250+ industries.

The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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.


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