Ventyx Biosciences downgraded to Hold from Buy at Clear Street

Clear Street analyst Kaveri Pohlman downgraded Ventyx Biosciences (VTYX) to Hold from Buy with a price target of $14, up from $11, after Eli Lilly (LLY) agreed to acquire Ventyx for $1.2B. Eli Lilly is a “logical” buyer given its focus on cardiometabolic health, immunology, and neuroscience, which aligns with Ventyx’s programs, the analyst tells investors in a research note. The firm added that Lilly currently lacks NLRP3 assets, suggesting Ventyx’s portfolio would complement its cardiometabolic and neurodegenerative franchises and could pair with existing therapies.