Ventyx Biosciences (NASDAQ:VTYX) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

Ventyx Biosciences (NASDAQ:VTYX) had its target price lifted by Canaccord Genuity Group from $14.00 to $16.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective points to a potential upside of 82.44% from the company’s current price.

Several other brokerages have also recently issued reports on VTYX. Wells Fargo & Company increased their price objective on Ventyx Biosciences from $11.00 to $14.00 and gave the stock an “overweight” rating in a research note on Friday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ventyx Biosciences in a report on Wednesday, October 8th. Wall Street Zen upgraded Ventyx Biosciences from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. Oppenheimer lifted their price objective on Ventyx Biosciences from $9.00 to $14.00 and gave the company an “outperform” rating in a report on Monday, October 27th. Finally, HC Wainwright upgraded shares of Ventyx Biosciences from a “neutral” rating to a “buy” rating and set a $18.00 target price on the stock in a report on Wednesday. Four research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Ventyx Biosciences presently has a consensus rating of “Moderate Buy” and an average target price of $15.50.

Ventyx Biosciences Stock Down 5.3%

VTYX stock traded down $0.49 during trading on Friday, hitting $8.77. The company had a trading volume of 2,638,338 shares, compared to its average volume of 2,134,669. Ventyx Biosciences has a 52-week low of $0.78 and a 52-week high of $9.50. The company has a 50 day simple moving average of $4.08 and a 200-day simple moving average of $2.85. The firm has a market capitalization of $625.39 million, a P/E ratio of -5.22 and a beta of 1.23.

Ventyx Biosciences (NASDAQ:VTYX) last issued its earnings results on Thursday, November 6th. The company reported ($0.32) EPS for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.13. Sell-side analysts forecast that Ventyx Biosciences will post -2.09 earnings per share for the current year.

Institutional Investors Weigh In On Ventyx Biosciences

A number of hedge funds have recently made changes to their positions in VTYX. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Ventyx Biosciences in the first quarter worth $28,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of Ventyx Biosciences in the 2nd quarter valued at $71,000. Nuveen LLC acquired a new position in shares of Ventyx Biosciences in the 1st quarter valued at $194,000. Ieq Capital LLC purchased a new position in Ventyx Biosciences in the 1st quarter worth $223,000. Finally, Pallas Capital Advisors LLC acquired a new stake in Ventyx Biosciences during the 2nd quarter worth about $38,000. 97.88% of the stock is currently owned by hedge funds and other institutional investors.

About Ventyx Biosciences

Ventyx Biosciences, Inc, a clinical-stage biopharmaceutical company, develops small molecule product candidates to address a range of inflammatory diseases. The company’s lead clinical product candidate is VTX958, a selective allosteric tyrosine kinase type 2 inhibitor for psoriasis, psoriatic arthritis, and Crohn’s disease.