Oppenheimer Affirms Outperform Rating for Ventyx Biosciences

Ventyx Biosciences (NASDAQ:VTYX) recently received an updated rating from Oppenheimer, which reaffirmed its "outperform" rating for the company's stock. According to a research report released on Friday, Oppenheimer has set a new price target of $9.00 for the shares, down from a previous target of $10.00. Despite this reduction, the updated price objective suggests a potential upside of approximately 305.41% based on Ventyx's last closing price.

Many other analysts have also shared their views on Ventyx Biosciences recently. Canaccord Genuity reduced its price target from $15.00 to $14.00 while maintaining a "buy" rating in a report dated August 12th. On the same day, Wells Fargo & Company lowered their target price from $16.00 to $11.00 and retained an "overweight" rating for Ventyx. Furthermore, HC Wainwright issued a "neutral" rating with a target price of $6.00 in a note released on October 15th. Currently, two analysts have rated the stock as a hold, whereas four have assigned it a buy rating. Market data indicates that Ventyx Biosciences boasts a consensus rating of "Moderate Buy" with an average target price of $9.00.

Recent Stock Performance of Ventyx Biosciences

On the trading day following the report, Ventyx Biosciences' stock experienced a slight decline of 0.9%, decreasing by $0.02 to reach a price of $2.22. The trading volume for the day was recorded at 394,654 shares, significantly lower than the average volume of 2,053,604 shares. Currently, the company's 50-day moving average is $2.24, while the 200-day moving average stands at $2.85. With a market capitalization of $156.89 million, Ventyx holds a price-to-earnings ratio of -0.80 and a beta of 0.37. Over the past year, the stock has fluctuated between a low of $1.79 and a high of $11.48.

On August 8th, Ventyx Biosciences announced its quarterly earnings, reporting losses of $0.45 per share, which was better than the consensus estimate of $0.57. Analysts project that Ventyx will report earnings of -$2.14 per share for the current fiscal year.

Institutional Investment in Ventyx Biosciences

Institutional investors have shown interest in Ventyx Biosciences. Recently, China Universal Asset Management Co. Ltd. increased its position in the company by 64.1% during the third quarter, acquiring an additional 5,310 shares for a total of 13,592 shares valued at $30,000. Similarly, The Manufacturers Life Insurance Company raised its holdings by 41.1% in the second quarter, owning 24,349 shares after purchasing an additional 7,096 shares. Other institutions, such as Norden Group LLC and Palumbo Wealth Management LLC, have also made new investments in Ventyx. It is noteworthy that institutional and hedge funds collectively hold 97.88% of the company's stock.

About Ventyx Biosciences

Ventyx Biosciences, Inc. is a clinical-stage biopharmaceutical firm dedicated to developing small molecule therapies targeting a variety of inflammatory diseases. The company's lead product candidate is VTX958, which acts as a selective allosteric tyrosine kinase type 2 inhibitor and is being studied for conditions such as psoriasis, psoriatic arthritis, and Crohn's disease.

Ventyx, Biosciences, Stocks