aTyr Pharma price target raised to $13 from $9 at Piper Sandler

Piper Sandler raised the firm’s price target on aTyr Pharma to $13 from $9 and keeps an Overweight rating on the shares after taking over coverage of the name. The analyst has "strong conviction" in the company’s lead asset efzofitimod for treatment of pulmonary sarcoidosis. In addition to showing a clean safety profile, efzofitimod has shown compelling proof-of-concept in a Phase 1b/2a study in pulmonary sarcoidosis that provides a positive read through to the ongoing Phase 3 study, the analyst tells investors in a research note.