Lucid Capital downgraded aTyr Pharma (ATYR) to Neutral from Buy with a price target of $1, down from $11, after the Phase 3 EFZO-FIT trial failed to show a significant reduction in change from baseline in mean daily oral corticosteroid dose at week 48 with efzofitimod in patients with pulmonary sarcoidosis. While the data suggests clinical benefit on quality-of-life endpoints, the failure to achieve statistical significance on the primary endpoint “complicates the regulatory path” and the firm prefers to stay on the sidelines pending FDA discussions as it believes shares may remain range-bound until there is more clarity.
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Read More on ATYR:
- aTyr Pharma downgraded to Hold from Buy at JonesResearch
- Hold Rating Issued for aTyr Pharma Amid Uncertainty Over Efzofitimod’s Trial Results and Future
- aTyr Pharma downgraded to Neutral from Buy at H.C. Wainwright
- aTyr Pharma downgraded to Market Perform from Outperform at Leerink
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