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Fly Intel: After-Hours Movers » 17:5903/2003/20/23
LTRN, HLIT, PET, NNDM, FUSN, VTYX
Check out this evening's…
Wells starts Ventyx at Overweight, sees multiple catalysts in next 12-18 months » 16:2803/2003/20/23
As previously reported,…
As previously reported, Wells Fargo analyst Derek Archilla initiated coverage of Ventyx Biosciences (VTYX) with an Overweight rating and $77 price target, telling investors that the firm sees multiple catalysts over the next 12-18 months for the company's small molecule immunology and inflammation franchise. Takeda's (TAK) announcement of "positive results" from a Phase 2b clinical trial of TAK-279 at AAD "suggests there is still some juice left to squeeze in PsO for TYK2" and the current enterprise value of about $1.7B for Ventyx "seems like a very attractive entry point," the firm added.
Ventyx Biosciences initiated with an Overweight at Wells Fargo » 16:0503/2003/20/23
Wells Fargo initiated…
Wells Fargo initiated coverage of Ventyx Biosciences with an Overweight rating and $77 price target.
Ventyx Biosciences price target raised to $65 from $60 at Oppenheimer » 06:2403/2003/20/23
Oppenheimer raised the…
Oppenheimer raised the firm's price target on Ventyx Biosciences (VTYX) to $65 from $60 as Takeda (TAK)/Nimbus' TAK-279 sets a new TYK2 efficacy bar in psoriasis but leaves the door open for Ventyx. The firm keeps an Outperform rating on the shares.
|Over a week ago|
Ventyx Biosciences provides update on Silicon Valley Bank financial exposure » 16:4903/1203/12/23
Ventyx Biosciences (VTYX)…
Ventyx Biosciences (VTYX) has learned that Silicon Valley Bank (SIVB) has been closed by the California Department of Financial Protection and Innovation, which appointed the Federal Deposit Insurance Corporation as receiver. Ventyx said that, "The majority of our cash and cash equivalents are held in accounts outside of SVB and our investment portfolio has no exposure to SVB. A portion of our cash is deposited in accounts with SVB and custodial accounts managed by SVB, and Ventyx may not have full access to these funds in the near-term. We do not see a material impact to our liquidity position or our ongoing operations as a result of this event."
|Over a month ago|
Third Point buys AIG, exits T-Mobile in Q4 » 18:2102/1402/14/23
AIG, MSFT, IFF, FIS, LH, EQT, RRC, TMUS, CANO, CSX, BBWI, TJX, DD, SHY, VTYX, DIS, PCG, CL, DHR, UNH
Third Point disclosed in…
Third Point disclosed in an SEC filing its holdings as of December 31, 2022. The fund's six new buys during the fourth quarter included, by size of position, AIG (AIG), Microsoft (MSFT), International Flavors & Fragrances (IFF), Fidelity National Information Services (FIS), and LabCorp (LH). Third Point exited 21 holdings during the quarter, including by size of previous position EQT Corp. (EQT), Range Resources (RRC), T-Mobile (TMUS), Cano Health (CANO), and CSX (CSX). The fund increased its stake in four holdings, including by size of previous position Bath & Body Works (BBWI), TJX (TJX), DuPont (DD), and iShares 1-3 Year Treasury Bond ETF (SHY). Third Point reduced its stake in four holdings, including by size of previous position Ventyx Bio (VTYX), Disney (DIS), and PG&E (PCG). The fund's top holdings as of December 31, in order of size, were PG&E, Colgate-Palmolive (CL), Danaher (DHR), Bath & Body Works, and UnitedHealth (UNH).
Ventyx Biosciences price target raised to $54 from $35 at Canaccord » 08:5501/3101/31/23
Canaccord analyst Edward…
Canaccord analyst Edward Nash raised the firm's price target on Ventyx Biosciences to $54 from $35 and keeps a Buy rating on the shares. The analyst noted the company currently has four Phase II studies in multiple indications ongoing, and initial top-line data are anticipated in 2H 2023. Ventyx also announced two new additions to the company's product pipeline: an extended release (ER) formulation of VTX958, which is in final optimization with an in-human study planned for 1H23, and an IL-4Ralpha antagonist that is in early-stage development; keeping Canaccord bullish on the shares.
Ventyx Biosciences remains Best Idea after R&D Day, says Piper Sandler » 15:4801/2601/26/23
Piper Sandler analyst…
Piper Sandler analyst Yasmeen Rahimi reiterated an Overweight rating and $50 price target on Ventyx Biosciences. The stock remains the firm's top pick for 2023 and after its R&D day, Piper is more bullish for several reasons. The firm said the company is said to be catalyst rich in 2023, and dosing details were provided for the psoriasis, Crohn's, and PSA trials that are expected to achieve efficacy similar to biologics.
Ventyx Biosciences price target raised to $65 from $50 at Evercore ISI » 11:5201/2601/26/23
Evercore ISI analyst…
Evercore ISI analyst Joshua Schimmer raised the firm's price target on Ventyx Biosciences to $65 from $50 and keeps an Outperform rating on the shares following what the firm called "another masterful presentation pulling together disparate data points to provide a clear and crisp outlook across its portfolio." While stating that it will be "keeping a close watch on" other assets and indications, for now the firm is only increasing its S1P1 estimates for UC, driving its increased price target.
Ventyx Biosciences announces pipeline updates, strategic priorities » 08:1401/2601/26/23
Ventyx Biosciences is…
Ventyx Biosciences is hosting an investor R&D Day today highlighting key aspects of Ventyx's clinical-stage and discovery programs. Pipeline Updates and Anticipated Catalysts: VTX958:Enrollment is ongoing in the Phase 2 SERENITY trial of VTX958 in moderate-to-severe plaque psoriasis and the Phase 2 HARMONY trial in Crohn's disease, while screening activities have initiated for the Phase 2 TRANQUILITY trial in psoriatic arthritis. Topline data from the Phase 2 SERENITY psoriasis trial are anticipated in Q4 2023. Topline readouts from the Phase 2 HARMONY and Phase 2 TRANQUILITY trials are expected in 2024. VTX002: Ventyx continues to make significant progress enrolling the Phase 2 trial of VTX002 in moderate-to-severe ulcerative colitis. Ventyx expects to complete enrollment by mid-2023, and topline results are anticipated in the second half of 2023. VTX2735: Ventyx is presenting additional data from the completed Phase 1 trial of VTX2735 in healthy volunteers, in which VTX2735 demonstrated excellent safety and target coverage. VTX2735 was well tolerated across all doses tested, with anticipated Phase 2 dose regimens expected to achieve IC90 coverage of IL-1beta for 20 hours or more. A Phase 2 proof-of-mechanism trial of VTX2735 in cryopyrin-associated autoinflammatory syndromes is expected to initiate in Q1 2023. VTX3232: Ventyx expects to file an IND and initiate a Phase 1 trial for VTX3232 during the first half of 2023. The Phase 1 trial is expected to characterize the safety, target engagement and bioavailability of VTX3232 in the central nervous system of healthy volunteers. Discovery Programs: Ventyx is introducing a new discovery-stage program focused on small molecule antagonists of IL-4Ralpha, a target validated by biologics in multiple large autoimmune indications, including atopic dermatitis, asthma and eosinophilic esophagitis. Ventyx is advancing multiple internally discovered novel chemical series through lead optimization with the goal of establishing in vivo proof-of-concept and nominating a lead candidate in 2023.