Canaccord Genuity Group Forecasts Strong Price Appreciation for Ventyx Biosciences (NASDAQ:VTYX) Stock

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

Other equities analysts also recently issued research reports about the stock. Wall Street Zen raised shares of Ventyx Biosciences from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. Weiss Ratings restated a “sell (d-)” rating on shares of Ventyx Biosciences in a research report on Wednesday, October 8th. HC Wainwright raised shares of Ventyx Biosciences from a “neutral” rating to a “buy” rating and set a $18.00 price objective for the company in a research report on Wednesday. Oppenheimer increased their price objective on shares of Ventyx Biosciences from $9.00 to $14.00 and gave the stock an “outperform” rating in a research note on Monday, October 27th. Finally, Wells Fargo & Company raised their target price on shares of Ventyx Biosciences from $11.00 to $14.00 and gave the stock an “overweight” rating in a report on Friday. Four 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $15.50.

Ventyx Biosciences Stock Down 5.3%

Shares of Ventyx Biosciences stock opened at $8.77 on Friday. The business has a 50-day moving average price of $4.21 and a 200 day moving average price of $2.92. Ventyx Biosciences has a fifty-two week low of $0.78 and a fifty-two week high of $9.50. The firm has a market cap of $625.39 million, a P/E ratio of -5.85 and a beta of 1.23.

Ventyx Biosciences (NASDAQ:VTYX) last released 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. As a group, equities research analysts anticipate that Ventyx Biosciences will post -2.09 earnings per share for the current year.

Institutional Investors Weigh In On Ventyx Biosciences

Hedge funds have recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC bought a new position in Ventyx Biosciences in the 1st quarter worth approximately $28,000. Cerity Partners LLC bought a new stake in Ventyx Biosciences during the 1st quarter valued at $56,000. CWM LLC boosted its position in Ventyx Biosciences by 1,733.8% during the 1st quarter. CWM LLC now owns 53,088 shares of the company’s stock worth $61,000 after acquiring an additional 50,193 shares during the period. Cutter & CO Brokerage Inc. bought a new position in shares of Ventyx Biosciences in the first quarter worth $62,000. Finally, Monaco Asset Management SAM increased its holdings in shares of Ventyx Biosciences by 372.7% during the first quarter. Monaco Asset Management SAM now owns 1,134,444 shares of the company’s stock valued at $1,305,000 after purchasing an additional 894,444 shares during the period. Institutional investors own 97.88% of the company’s stock.

Ventyx Biosciences Company Profile

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.