aTyr Pharma downgraded to Hold from Buy at JonesResearch

JonesResearch analyst Soumit Roy downgraded aTyr Pharma (ATYR) to Hold from Buy without a price target 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. The firm did not expect 40% of patients in the placebo arm to taper to 0mg of steroid at 48 weeks. Jones doubts the FDA will green light efzofitimod with the current dataset and removed the drug from the stock’s valuation. aTyr shares could pull back further without a clear decision soon on the fate of its programs, the analyst tells investors in a research note.