California-based biotherapeutics firm aTyr Pharma’s (LIFE) second-quarter 2021 financial results fell short of analysts expectations. The company develops medicines based on novel biological pathways.
aTyr Pharma posted a loss of $0.64 per share, larger than the Street’s loss estimate of $0.51 per share but smaller than the year-ago loss of $0.69 per share. (See aTyr stock chart on TipRanks)
The company did not report any revenue for the second quarter of 2021. It had posted revenues of $189,000 in the second quarter of 2020. Analysts had estimated that the company would generate revenues of $620,000 in Q2 2021.
The President and CEO of aTyr, Sanjay S. Shukla, said, “The clinical proof-of-mechanism for ATYR1923 established in our Phase 2 study in COVID-19 patients and the favorable clinical safety profile demonstrated to date, along with the pre-clinical efficacy observed in multiple translational ILD models, support the potential for ATYR1923 as a new therapeutic approach for patients with pulmonary sarcoidosis and possibly other forms of ILD. We believe ATYR1923 could potentially offer an alternative to current treatments such as steroids with improved efficacy and fewer side effects.”
Last month, Laidlaw analyst Yale Jen reiterated a Buy rating on the stock with a price target of $18. The analyst said the rating and price target “reflect the potential success of the two first-in-class novel cancer therapeutics. With multiple major catalysts within the next 12 months, we believe LIFE shares remain undervalued. Our valuation is based on our forward P/E, NPV-driven sum-of-the-parts and peer comparable analyses.”
Overall, the stock has a Strong Buy consensus based on 4 unanimous Buys. The average aTyr Pharma price target of $14 implies 195.4% upside potential. Shares of the company have gained 25.7% over the past year.
According to TipRanks’ Smart Score rating system, aTyr scores a 9 out of 10, suggesting that the stock is likely to outperform market averages.
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