Ventyx Biosciences (NASDAQ:VTYX) stock is rocketing higher on Monday after Oppenheimer analyst Jeff Jones provided an update on the shares.
That update has the Oppenheimer analyst increasing his price target for VTYX stock from $40 per share to $65 per share. That represents a potential 181% upside compared to its previous closing price. That’s also a bullish price target for Ventyx Biosciences next to the analyst consensus of $45.44 per share.
It’s also worth mentioning that Jones continues to hold an “outperform” rating for VTYX stock. For the record, the analyst consensus rating for the company’s shares is “buy.” That comes from 10 “buy” ratings from analysts.
Investor Meetings Are Also Helping VTYX Stock
Ventyx Biosciences also has investor meetings to thank for the recent interest in its shares. That includes a presentation at the 2022 Wells Fargo Healthcare Conference on Friday. The company is also set for another presentation at the Morgan Stanley 20th Annual Global Healthcare Conference later this week.
Shares of VTYX stock are seeing heavy trading alongside today’s news. As of this writing, more than 8 million shares of the stock have been traded. To put that in perspective, the company’s daily average trading volume is about 275,000 shares.
VTYX stock is up 70.4% as of Monday morning and is up 96.8% since the start of the year.
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.