In a report released today, Yasmeen Rahimi from Piper Sandler initiated coverage with a Buy rating on Ventyx Biosciences (VTYX – Research Report) and a price target of $21.00. The company’s shares closed yesterday at $6.05.
According to TipRanks, Rahimi is a 5-star analyst with an average return of 12.9% and a 42.29% success rate. Rahimi covers the Healthcare sector, focusing on stocks such as Madrigal Pharmaceuticals, Crinetics Pharmaceuticals, and CymaBay Therapeutics.
Currently, the analyst consensus on Ventyx Biosciences is a Moderate Buy with an average price target of $7.80, a 28.93% upside from current levels. In a report released on February 21, Jefferies also maintained a Buy rating on the stock with a $5.00 price target.
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Based on Ventyx Biosciences’ latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $54.03 million. In comparison, last year the company had a GAAP net loss of $30.46 million
Based on the recent corporate insider activity of 72 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of VTYX in relation to earlier this year.
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Ventyx Biosciences (VTYX) Company Description:
Ventyx Biosciences Inc is a clinical-stage biopharmaceutical company focused on advancing new therapies for millions of patients living with inflammatory diseases and autoimmune disorders. Its lead product candidate VTX958 is an oral, selective clinical-stage tyrosine kinase type 2 (TYK2) inhibitor designed to inhibit TYK2 without detectable inhibition of other Janus kinase (JAK) isoforms, which avoids toxicities associated with broader JAK inhibition and, thus, other JAK inhibitors.
Read More on VTYX:
- Ventyx Biosciences Reports Fourth Quarter and Full Year 2023 Financial Results and Highlights Recent Corporate Progress
- ZyVersa data adds evidence of NLRP3 focus in obesity, says Piper Sandler
- NLRP3 data could drive renewed focus on Ventyx candidates, says Jefferies
- Ventyx jump attributable to competitor data, says Oppenheimer
- Ventyx Biosciences to Participate in the Oppenheimer 34th Annual Healthcare Life Sciences Conference
