Takeda deal has positive read through for Ventyx, says Piper

After Takeda Pharmaceutical (TAK) announced they were acquiring Nimbus Therapeutics’ TYK2 program subsidiary, including TYK2 inhibitor NDI-034858, for $4B upfront and sales milestones of $2B, Piper Sandler analyst Yasmeen Rahimi argued in a note to investors that "this reads positively through to the value" of Ventyx Biosciences’ (VTYX) "highly differentiated" TKY2 asset VTX958 and three other pipeline assets. The analyst, who also recalls that Pfizer (PFE) acquired Arena Pharmaceutical for its etrasimod for $6.7B, has an Overweight rating and $50 price target on Ventyx shares.