U.S. markets open in 8 hours 10 minutes
  • S&P Futures

    3,813.25
    +19.25 (+0.51%)
     
  • Dow Futures

    30,444.00
    +134.00 (+0.44%)
     
  • Nasdaq Futures

    11,698.25
    +74.50 (+0.64%)
     
  • Russell 2000 Futures

    1,778.80
    +10.80 (+0.61%)
     
  • Crude Oil

    87.77
    +0.01 (+0.01%)
     
  • Gold

    1,730.80
    +10.00 (+0.58%)
     
  • Silver

    20.86
    +0.32 (+1.54%)
     
  • EUR/USD

    0.9921
    +0.0036 (+0.37%)
     
  • 10-Yr Bond

    3.7590
    0.0000 (0.00%)
     
  • Vix

    28.55
    -0.52 (-1.79%)
     
  • GBP/USD

    1.1356
    +0.0034 (+0.30%)
     
  • USD/JPY

    144.5460
    -0.0640 (-0.04%)
     
  • BTC-USD

    20,314.66
    +151.59 (+0.75%)
     
  • CMC Crypto 200

    461.66
    +3.25 (+0.71%)
     
  • FTSE 100

    7,052.62
    -33.84 (-0.48%)
     
  • Nikkei 225

    27,390.69
    +270.16 (+1.00%)
     

This Inflammatory Disease Focused Stock Is Well Positioned For $12B Crohn's Disease Market

·1 min read
  • Credit Suisse says that Ventyx Biosciences Inc's (NASDAQ: VTYXtopline Phase 1 MAD data for its allosteric TYK2 inhibitor, VTX958 establishes clear differentiation from other TYK2is and meaningfully de-risk the drug's profile.

  • Credit Suisse raised the price target to $63 from $53 with an Outperform rating.

  • VTYX plans on initiating Phase 2 Proof of Concept trials in psoriasis, psoriatic arthritis, and Crohn's disease (CD) in Q4.

  • VTX958 achieved dose-dependent exposure/target coverage, with up to 24 hours of TYK2 IC50/IC90 coverage and class-leading coverage of its target cytokines, writes the analyst.

  • Early data suggests VTX958 can achieve better exposure/TYK2 pathway suppression with a wider safety margin.

  • According to Credit Suisse, VTX958 is particularly well positioned for success in CD, a ~$12 billion indication without any oral therapies that likely require greater TYK2 coverage than psoriasis for adequate disease management.

  • VTYX trades at ~$700 million EV and funds into H1 2024.

  • The analysts see the company offers a compelling investment opportunity with a highly favorable upside/downside.

  • Price Action: VTYX shares are up 32.20% at $24.61 during the last check on Tuesday.

Latest Ratings for VTYX

Date

Firm

Action

From

To

Feb 2022

Oppenheimer

Initiates Coverage On

Outperform

Nov 2021

Evercore ISI Group

Initiates Coverage On

Outperform

Nov 2021

Jefferies

Initiates Coverage On

Buy

View More Analyst Ratings for VTYX

View the Latest Analyst Ratings

See more from Benzinga

Don't miss real-time alerts on your stocks - join Benzinga Pro for free! Try the tool that will help you invest smarter, faster, and better.

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.