Leerink Partners analyst Faisal Khurshid has reiterated their bullish stance on ATYR stock, giving a Buy rating on March 18.
Faisal Khurshid’s rating is based on several key observations from the ongoing Phase 3 EFZO-FIT study of efzofitimod in pulmonary sarcoidosis. The study’s baseline characteristics indicate a milder patient population compared to earlier phases, which aligns with expectations due to the inclusion of a broader, global patient demographic. This lack of major surprises in patient characteristics provides confidence in the trial’s execution.
Additionally, while the study’s focus on a less severe disease population might raise concerns about the trial’s success likelihood, the aggressive steroid tapering protocol and the recent shift in measuring steroid reduction bolster the chances of demonstrating a treatment effect. The baseline steroid dose and concomitant immunosuppressive therapy use are consistent with previous phases, further supporting the trial’s design and potential outcomes. These factors collectively contribute to Khurshid’s Buy rating for aTyr Pharma.
In another report released on March 18, Wells Fargo also maintained a Buy rating on the stock with a $17.00 price target.
Based on the recent corporate insider activity of 9 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ATYR in relation to earlier this year.