Viking Therapeutics, Inc. is a US-listed company in the biotechnology industry. Its financial year ends in December.
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Not valued: the figures our models need are missing or failed our data-quality checks.
No model value: cash-flow, stock-pay or share-count figures missing or out of date. How we value companies.
Viking Therapeutics, Inc. valuation: adjust assumptions and compare models →
What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.
Viking Therapeutics has little or no product revenue yet. The diluted share count is up 3.6% on a year earlier, which dilutes existing holders.
Our models give no value for Viking Therapeutics at present, so past values are not shown.
Source: 10-Q filed October 29, 2026 on SEC EDGAR · Financials · Valuation
Viking Therapeutics remains pre-revenue, with little or no product income to show for its efforts so far. Shareholders, meanwhile, face a steady erosion of their stake. Over the past year, the diluted share count has risen by 3.6%, a pace that quietly dilutes existing holders even as the company pursues its development pipeline. Without product sales to offset the expanding share base, each additional share issued chips away at the proportional ownership of current investors. For a business still working towards commercialisation, this dilution is a cost worth noting, separate from any judgement on the underlying science or clinical progress. It simply reflects the financial reality of funding operations without revenue, and it is a factor that bears watching as the share count continues to grow in the absence of top-line income.
Viking Therapeutics has little or no product revenue yet. The diluted share count is up 2.6% on a year earlier, which dilutes existing holders. It passes 2 of our 2 financial-health checks.
Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.
Current signal Results well ahead of expectations: Reported earnings per share beat the analysts' consensus estimate by 9% in the quarter to 2026-06-30.
Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.
Nothing in Viking Therapeutics, Inc.'s latest figures clears our strength thresholds.
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Company announcements, filed results and changes that matter to shareholders.
Viking Therapeutics is expected to report around 28 October, estimated from its filing history. The next results can clarify its cash use and share-count trend; revenue remains zero on a trailing basis.
We value Viking Therapeutics, Inc. as an operating company, with every model that fits that kind of business. Cost of equity 10.9%: the 10-year Treasury yield (4.9%) plus a beta of 1.33 times a 4.5% equity risk premium.
| Model | Value per share | In the combined value? |
|---|---|---|
| Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. | — | Does not apply: no positive earnings in the latest twelve months |
| Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. | — | Does not apply: the model gives no positive value |
| Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. | — | Does not apply: return on equity is not positive |
| Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. | — | Does not apply: revenue and margins don't support a positive value |
| Price-to-sales vs peers Sales per share times peers' typical price-to-sales; used only when earnings are negative. | — | Does not apply: no positive revenue in the latest twelve months |
| Combined value Weighted average of the models that apply: the primary model (price-to-earnings vs peers) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. | — | No model applies: the filings don’t yet support a value. |
Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Viking Therapeutics, Inc. with Biotechnology in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.
| At fiscal year end | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Now |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Share price | $3.41 | $1.19 | $4.06 | $7.65 | $8.02 | $5.63 | $4.60 | $9.40 | $18.61 | $40.24 | $35.18 | $26.83 |
| Market value | $22m | $19m | $105m | $440m | $577m | $409m | $355m | $722m | $1.8bn | $4.4bn | $4.0bn | $3.1bn |
| + Net debt (− = net cash) | $1m | −$3m | −$9m | −$25m | −$8m | −$29m | −$26m | −$37m | −$56m | −$27m | −$166m | −$427m |
| Enterprise value | $23m | $16m | $96m | $416m | $569m | $380m | $329m | $686m | $1.7bn | $4.4bn | $3.8bn | $2.7bn |
| Multiples | ||||||||||||
| Price / sales | — | — | — | — | — | — | — | — | — | — | — | — |
| Price / earnings | — | — | — | — | — | — | — | — | — | — | — | — |
| Price / free cash flow | — | — | — | — | — | — | — | — | — | — | — | — |
| EV / EBITDA | — | — | — | — | — | — | — | — | — | — | — | — |
Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Medium.
| Fiscal year | EPS | Growth | Revenue | Growth |
|---|---|---|---|---|
| Current | −$4.59 | −44% | — | 0% |
| Next | −$4.34 | +5% | — | 0% |
The consensus EPS forecast for the current fiscal year is −2.9% on 90 days ago. In the last 30 days, 9 analysts raised Viking Therapeutics, Inc.'s forecast and 7 cut it.
Average of analysts' published estimates (third-party data).
| Period | Current fiscal year | Next fiscal year |
|---|---|---|
| 90 days ago | −$4.72 | −$4.57 |
| 60 days ago | −$4.61 | −$4.32 |
| 30 days ago | −$4.61 | −$4.32 |
| 7 days ago | −$4.60 | −$4.40 |
| Now | −$4.59 | −$4.34 |
| Quarter to | Estimate | Actual | Surprise |
|---|---|---|---|
| Jun 2026 | −$1.21 | −$1.10 | +8.8% |
| Mar 2026 | −$0.91 | −$1.37 | −50.5% |
| Dec 2025 | −$0.90 | −$1.38 | −53.1% |
| Sept 2025 | −$0.67 | −$0.81 | −20.1% |
Adjusted EPS as companies report it, against the average analyst estimate.
| Calendar year | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 to date |
|---|---|---|---|---|---|---|
| Return | ||||||
| VKTX | −18% | +104% | +98% | +116% | −13% | −24% |
| Industry peers (median) | −36% | −57% | −18% | −29% | −5% | −27% |
| S&P 500 | +29% | −18% | +26% | +25% | +18% | +11% |
| Months that ended higher | ||||||
| VKTX | 42% | 42% | 50% | 50% | 25% | 36% |
| S&P 500 | 75% | 42% | 67% | 75% | 75% | 46% |
| Largest fall from a high during the year | ||||||
| VKTX | −52% | −57% | −63% | −60% | −53% | −43% |
| S&P 500 | −5% | −25% | −10% | −8% | −19% | −9% |
Worst fall since October 29, 2015: 89% from September 19, 2018 to June 16, 2022. Getting back needed a 831% gain, reached on April 18, 2023, 306 days after the low.
| Results released | Next day | S&P 500 next day | 5 days | 21 days |
|---|---|---|---|---|
| October 28, 2026 | +7.9% | 0.0% | — | — |
| July 29, 2026 | −2.2% | +0.1% | −1.0% | 0.0% |
| April 29, 2026 | −3.7% | +1.0% | −0.3% | +1.1% |
| February 11, 2026 | +6.1% | −1.6% | +8.2% | +23.9% |
| October 22, 2025 | +2.9% | +0.1% | +6.8% | +3.9% |
| July 23, 2025 | +4.4% | +0.9% | +5.0% | −20.1% |
| April 23, 2025 | +0.7% | +3.7% | +13.3% | +8.8% |
| February 5, 2025 | −2.8% | +0.8% | −9.4% | −10.1% |
| October 23, 2024 | +18.0% | −0.7% | +15.7% | −16.8% |
| July 24, 2024 | +25.5% | −2.8% | +10.6% | +24.9% |
| April 24, 2024 | +6.1% | −0.4% | +17.7% | −5.2% |
| February 7, 2024 | +17.4% | +0.9% | +31.0% | +191.7% |
Source: SEC EDGAR filings. Retrieved October 30, 2026.
| Period | Revenue (TTM) |
|---|---|
| FY23 Q4 | $0 |
| FY24 Q1 | $0 |
| FY24 Q2 | $0 |
| FY24 Q3 | $0 |
| FY24 Q4 | $0 |
| FY25 Q1 | $0 |
| FY25 Q2 | $0 |
| FY25 Q3 | $0 |
| FY25 Q4 | $0 |
| FY26 Q1 | $0 |
| FY26 Q2 | $0 |
| FY26 Q3 | $0 |
| Fiscal year | 2014 Dec 2014 | 2015 Dec 2015 | 2016 Dec 2016 | 2017 Dec 2017 | 2018 Dec 2018 | 2019 Dec 2019 | 2020 Dec 2020 | 2021 Dec 2021 | 2022 Dec 2022 | 2023 Dec 2023 | 2024 Dec 2024 | 2025 Dec 2025 | LTM Sept 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income | |||||||||||||
| Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating income | −23 | −12 | −14 | −19 | −26 | −33 | −43 | −56 | −70 | −101 | −151 | −393 | −649 |
| Net income | −22 | −23 | −15 | −21 | −22 | −26 | −39 | −55 | −69 | −86 | −110 | −360 | −627 |
| Diluted EPS | −$5.23 | −$3.68 | −$0.90 | −$0.79 | −$0.38 | −$0.36 | −$0.54 | −$0.71 | −$0.90 | −$0.91 | −$1.01 | −$3.19 | −$5.41 |
| Cash flow | |||||||||||||
| Cash from operations | −2 | −9 | −11 | −15 | −19 | −25 | −22 | −48 | −48 | −73 | −88 | −279 | −463 |
| Stock-based pay | 0 | 3 | 2 | 1 | 3 | 4 | 6 | 6 | 9 | 17 | 30 | 41 | 48 |
| Balance sheet | |||||||||||||
| Cash | 1 | 1 | 3 | 9 | 25 | 8 | 29 | 26 | 37 | 56 | 27 | 166 | 678 |
| Total debt | 2 | 2 | — | — | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 251 |
| Net debt (negative = net cash) | 1 | 1 | −3 | −9 | −25 | −8 | −29 | −26 | −37 | −56 | −27 | −166 | −427 |
| Diluted shares | 4m | 6m | 16m | 26m | 58m | 72m | 73m | 77m | 77m | 94m | 109m | 113m | 116m |
| Returned to shareholders | |||||||||||||
| Buybacks | 0 | 0 | 0 | — | — | — | — | — | 7 | — | — | — | — |
| Total returned | 0 | 0 | 0 | — | — | — | — | — | 7 | — | — | — | — |
| Quarter | 2024 Q4 Dec 2024 | 2025 Q1 Mar 2025 | 2025 Q2 Jun 2025 | 2025 Q3 Sept 2025 | 2025 Q4 Dec 2025 | 2026 Q1 Mar 2026 | 2026 Q2 Jun 2026 | 2026 Q3 Sept 2026 |
|---|---|---|---|---|---|---|---|---|
| Income | ||||||||
| Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating income | −46 | −55 | −75 | −99 | −165 | −164 | −133 | −187 |
| Net income | −35 | −46 | −66 | −91 | −158 | −158 | −128 | −183 |
| Diluted EPS | −$0.32 | −$0.41 | −$0.58 | −$0.81 | −$1.39 | −$1.37 | −$1.10 | −$1.55 |
| Cash flow | ||||||||
| Cash from operations | −31 | −52 | −47 | −94 | −85 | −114 | −125 | −138 |
| Stock-based pay | 6 | 11 | 14 | 7 | 9 | 10 | 11 | 18 |
| Measure | Company | Peer median | Rank |
|---|---|---|---|
| Long-term debt as % of assets Balance sheet | 25.7% | 20.6% | 48 of 78 |
| Change in share count Balance sheet | 3.6% | 7.9% | 58 of 156 |
Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).
| Manager | Value | Shares | Share of 13F value | Shares QoQ |
|---|---|---|---|---|
| FMR LLC | $247M | 6.3M | 8.4% | ▲ 5.2% |
| Blackrock, Inc. | $241M | 6.2M | 8.2% | ▼ 10.0% |
| State Street Corp | $219M | 5.6M | 7.4% | ▲ 27.5% |
| Vanguard Capital Management LLC | $197M | 5.1M | 6.7% | ▲ 0.8% |
| Vanguard Portfolio Management LLC | $175M | 4.5M | 5.9% | ▲ 0.4% |
| Two Sigma Investments, LP | $154M | 3.9M | 5.2% | ▼ 11.2% |
| Morgan Stanley | $136M | 3.5M | 4.6% | ▲ 15.7% |
| Ameriprise Financial Inc | $84.1M | 2.2M | 2.8% | ▲ 28.4% |
| Geode Capital Management, LLC | $81.9M | 2.1M | 2.8% | ▲ 0.8% |
| American Century Companies Inc | $70.8M | 1.8M | 2.4% | ▼ 12.6% |
| D. E. Shaw & Co., Inc. | $62.6M | 1.6M | 2.1% | ▼ 4.2% |
| BNP Paribas Financial Markets | $38.3M | 982K | 1.3% | ▲ 81.6% |
From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Viking Therapeutics, Inc.'s complete shareholder register. Values are as reported by the filers ; 2 inconsistently scaled filing rows were excluded.
| Insider | Date | Trade | Shares | Price | Value |
|---|---|---|---|---|---|
| Mancini Marianna Chief Operating Officer | July 29, 2026 | Sell | 18,217 | $33.47 | $609,723 |
| Zante Greg Chief Financial Officer | July 29, 2026 | Sell | 21,217 | $33.47 | $710,133 |
| Lian Brian President & CEO | July 29, 2026 | Sell | 148,517 | $33.32 | $4.9M |
| Aubuchon Neil William Chief Commercial Officer | March 10, 2026 | Buy | 4,475 | $33.50 | $149,912 |
| Lian Brian President & CEO | January 5, 2026 | Sell | 132,454 | $32.29 | $4.3M |
| Lian Brian President & CEO | January 5, 2026 | Sell | 41,276 | $34.22 | $1.4M |
| Lian Brian President & CEO | January 5, 2026 | Sell | 53,279 | $33.38 | $1.8M |
| Lian Brian President & CEO | January 5, 2026 | Sell | 6,400 | $35.07 | $224,448 |
| Mancini Marianna Chief Operating Officer | January 5, 2026 | Sell | 1,600 | $35.07 | $56,112 |
| Mancini Marianna Chief Operating Officer | January 5, 2026 | Sell | 10,500 | $34.22 | $359,310 |
| Mancini Marianna Chief Operating Officer | January 5, 2026 | Sell | 13,600 | $33.37 | $453,832 |
| Mancini Marianna Chief Operating Officer | January 5, 2026 | Sell | 31,961 | $32.29 | $1M |
From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.
Next expected around February 10, 2027 estimated from the company's past filing pattern, not announced
| Data | Last updated | Source |
|---|---|---|
| Share price | Exchange closing prices | |
| Financial statements | SEC 10-K and 10-Q filings | |
| News and updates | Company releases and SEC 8-K filings | |
| Analyst estimates | Aggregated analyst estimates | |
| Valuation and scores | Our models, from the filed figures |
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