Goldman Sachs analyst Chris Shibutani initiated coverage of Ventyx Biosciences with a Buy rating and $50 price target. Ventyx’s "fast-follower" approach developing potentially best-in-class therapies for validated therapeutic targets will translate to meaningful opportunities in the "commercially attractive" immunology and inflammation space, Shibutani tells investors in a research note. The analyst sees potential share catalysts in the company’s January 26 R&D day and Phase 2 readouts of VTX958 in plaque psoriasis and psoriatic arthritis.
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