VTYX - Ventyx Biosciences initiated at outperform at Credit Suisse on immune system candidates

Credit Suisse has initiated Ventyx Biosciences (NASDAQ:VTYX) with an outperform rating citing the company's Tyrosine kinase 2 (TYK2) inhibitor VTX958 as positioned to become the best in class. The firm has a $53 price target on shares (~224% return based on Friday's close). Analyst Taigo Fauth said that TYK2s can address conditions with a more than $45B potential. VYX958 is in phase 1 for psoriasis, psoriatric arthritis, and Crohn's disease. He added the candidate could grow the overall total addressable market for the class compared to other competitors. Fauth also highlighted the selective S1P1R modulator VTX002, in phase 2 for ulcerative colitis as the class is de-risked. He added that the company could draw strategic interest in the future. Check out Ventyx's (VTYX) full-year 2021 results.

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Ventyx Biosciences initiated at outperform at Credit Suisse on immune system candidates