Oppenheimer Reaffirms “Outperform” Rating for Ventyx Biosciences (NASDAQ:VTYX)

Ventyx Biosciences (NASDAQ:VTYX)‘s stock had its “outperform” rating reiterated by Oppenheimer in a research report issued on Friday,Benzinga reports. They presently have a $9.00 price target on the stock, down from their previous price target of $10.00. Oppenheimer’s price target suggests a potential upside of 309.09% from the stock’s current price.

A number of other equities research analysts also recently commented on the company. HC Wainwright restated a “neutral” rating and issued a $6.00 target price on shares of Ventyx Biosciences in a research report on Tuesday, October 15th. Canaccord Genuity Group reduced their price objective on shares of Ventyx Biosciences from $15.00 to $14.00 and set a “buy” rating on the stock in a report on Monday, August 12th. Finally, Wells Fargo & Company lowered their target price on shares of Ventyx Biosciences from $16.00 to $11.00 and set an “overweight” rating for the company in a research note on Monday, August 12th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Ventyx Biosciences has an average rating of “Moderate Buy” and a consensus target price of $9.00.

Ventyx Biosciences Trading Down 1.8 %

Ventyx Biosciences stock opened at $2.20 on Friday. The company has a 50-day moving average price of $2.24 and a 200 day moving average price of $2.83. Ventyx Biosciences has a 12-month low of $1.79 and a 12-month high of $11.48. The stock has a market cap of $155.47 million, a P/E ratio of -0.79 and a beta of 0.37.

Ventyx Biosciences (NASDAQ:VTYX) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.50) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.02). As a group, analysts forecast that Ventyx Biosciences will post -2.14 EPS for the current year.

Hedge Funds Weigh In On Ventyx Biosciences

Hedge funds have recently bought and sold shares of the company. Intech Investment Management LLC purchased a new stake in Ventyx Biosciences during the 3rd quarter worth approximately $42,000. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Ventyx Biosciences by 10.2% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 462,170 shares of the company’s stock worth $1,008,000 after acquiring an additional 42,600 shares in the last quarter. LMR Partners LLP purchased a new stake in Ventyx Biosciences during the 3rd quarter worth about $218,000. Palumbo Wealth Management LLC acquired a new stake in Ventyx Biosciences in the 3rd quarter valued at about $26,000. Finally, China Universal Asset Management Co. Ltd. boosted its stake in shares of Ventyx Biosciences by 64.1% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 13,592 shares of the company’s stock valued at $30,000 after buying an additional 5,310 shares during the period. Institutional investors and hedge funds 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.