Wells Fargo lowered the firm’s price target on Ventyx Biosciences to $11 from $16 and keeps an Overweight rating on the shares. The firm notes management highlighted continued progress towards initiating multiple trials with its NLRP3 candidates VTX3232 and VTX2735. While shares are highly depressed, Wells believes the stock will trade higher in anticipation of 2025 catalysts.
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