Canaccord lowered the firm’s price target on Ventyx Biosciences to $14 from $15 and keeps a Buy rating on the shares. The firm noted they announced the disappointing Phase IIb HARMONY trial results for VTX958 (TYK2 inhibitor) in Crohn’s disease, followed by the decision to pause the pursuit of the CD program cauding Canaccord to zero out the CD program from our model valuation.
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