Oppenheimer upgraded Ventyx Biosciences to Outperform from Perform with a $12 price target. The company yesterday provided an in-depth overview of its clinical stage pipeline, revealing new clinical data across three different assets, the analyst tells investors in a research note. The firm says a narrowed focus on the NLRP3 inhibitor programs “sets up a fresh timelines story moving forward.” It believes Ventyxns new pipeline focus on VTX2735 and VTX3232 adds large indications, obesity and Parkinson’s, while smaller early studies reduce cash burn.
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