Ventyx Biosciences Inc (VTYX) PT Raised to $60 at Jefferies

Jefferies analyst Michael Yee raised the price target on Ventyx Biosciences Inc (NASDAQ: VTYX) to $60.00 (from $30.00) while maintaining a Buy rating.

The analyst comments "We reiterate our BUY as VTYX has the potentially cleanest oral TYK2 inhibitor. The first one from BMY has just been approved, importantly with a very clean label w/ no Black Box or major restrictions; this was a surprise vs investor expectations for a BB so this removes a key overhang, makes the class much larger and more attractive w/o labeling issues, and makes VTYX significantly more likely to hit $3-4B+ peak sales and attractive to pharma for strategic M&A."

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