aTyr Pharma price target raised to $17 from $9 at Jefferies

Jefferies analyst Roger Song raised the firm’s price target on aTyr Pharma (ATYR) to $17 from $9 and keeps a Buy rating on the shares. Efzofitimod showed encouraging Phase 1/2 trials as clinical proof-of-concept for pulmonary sarcoidosis, with the Phase 3 having more stringent tapering which could further diverge the delta for steroid reduction, the analyst tells investors in a research note. The firm said its analysts suggests roughly 60% POS hitting statistical significance, with about 37% POS showing 3mg+ delta, driving a positive skewed stock move and supporting potential first approval.