Canaccord analyst Edward Nash downgraded Ventyx Biosciences (VTYX) to Hold from Buy with a price target of $14, down from $16, after the company entered into an agreement for Eli Lilly to acquire it at a price of $14 per share in an all-cash transaction. The firm believes the acquisition will not encounter any antitrust issues.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on VTYX:
- Ventyx downgraded to Market Perform from Outperform at LifeSci Capital
- Hold Rating on Ventyx Biosciences Reflects Limited Upside Amid Eli Lilly All‑Cash Acquisition at $14 per Share
- Ventyx Biosciences downgraded to Hold from Buy at Clear Street
- Eli Lilly to Acquire Ventyx Biosciences in Cash Deal
- Eli Lilly to acquire Ventyx Biosciences for $14.00 per share cash