As previously reported, Wells Fargo downgraded aTyr Pharma (ATYR) to Equal Weight from Overweight with a price target of $1, down from $25, 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 believes efzofitimod’s efficacy on pre-specified secondary endpoints is interesting, but upside for shares will be dictated by FDA flexibility on what is a failed Phase 3 – this is hard to make a call on. Wells would await further clarity before getting constructive.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ATYR:
- Morning News Wrap-Up: Monday’s Biggest Stock Market Stories!
- aTyr Pharma downgraded to Equal Weight from Overweight at Wells Fargo
- aTyr Pharma downgraded to Neutral from Buy at Lucid Capital
- aTyr Pharma downgraded to Hold from Buy at JonesResearch
- Hold Rating Issued for aTyr Pharma Amid Uncertainty Over Efzofitimod’s Trial Results and Future