Wells Fargo & Company Forecasts Strong Price Appreciation for Ventyx Biosciences (NASDAQ:VTYX) Stock

Ventyx Biosciences (NASDAQ:VTYX) had its price target boosted by research analysts at Wells Fargo & Company from $11.00 to $14.00 in a research report issued on Friday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price points to a potential upside of 59.64% from the stock’s previous close.

A number of other brokerages have also recently commented on VTYX. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ventyx Biosciences in a report on Wednesday, October 8th. Wall Street Zen raised shares of Ventyx Biosciences from a “sell” rating to a “hold” rating in a research report on Saturday, August 9th. HC Wainwright raised shares of Ventyx Biosciences from a “neutral” rating to a “buy” rating and set a $18.00 target price for the company in a report on Wednesday. Finally, Oppenheimer increased their target price 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. Four equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, Ventyx Biosciences has a consensus rating of “Moderate Buy” and an average target price of $15.50.

Ventyx Biosciences Stock Performance

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

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

Hedge Funds Weigh In On Ventyx Biosciences

Large investors have recently made changes to their positions in the stock. Affinity Asset Advisors LLC purchased a new stake in Ventyx Biosciences during the second quarter worth $9,707,000. Marshall Wace LLP acquired a new position in shares of Ventyx Biosciences during the 2nd quarter worth $5,129,000. Redmile Group LLC boosted its position in shares of Ventyx Biosciences by 1,164.1% in the 1st quarter. Redmile Group LLC now owns 1,569,793 shares of the company’s stock worth $1,805,000 after buying an additional 1,445,615 shares in the last quarter. Monaco Asset Management SAM grew its stake in Ventyx Biosciences by 372.7% in the 1st quarter. Monaco Asset Management SAM now owns 1,134,444 shares of the company’s stock valued at $1,305,000 after acquiring an additional 894,444 shares during the last quarter. Finally, AQR Capital Management LLC increased its holdings in Ventyx Biosciences by 925.6% during the 1st quarter. AQR Capital Management LLC now owns 880,222 shares of the company’s stock valued at $1,012,000 after acquiring an additional 794,401 shares in the last quarter. Hedge funds and other institutional investors own 97.88% of the company’s stock.

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.