aTyr Pharma (ATYR – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst on March 14. Analyst Faisal Khurshid from Leerink Partners maintained a Buy rating on the stock and has a $16.00 price target.
Faisal Khurshid’s rating is based on a combination of factors, including recent updates from aTyr Pharma regarding their EFZO-FIT trial. The company has made a strategic adjustment to the primary endpoint calculation method for this trial, which is expected to have a neutral to positive impact on the trial’s success. This change is seen as simplifying the analysis process by focusing on steroid reduction from baseline to week 48, which aligns with regulatory emphasis on the durability of the drug’s effect.
Additionally, Khurshid expresses confidence in the upcoming EFZO-FIT readout, supported by promising Phase 1b/2a data, positive feedback from key opinion leaders, and a thorough examination of the underlying science of efzofitimod. The analyst also notes that the company’s updated cash guidance extends to one year post-data, which provides a financial cushion. These factors collectively contribute to the Buy rating for aTyr Pharma’s stock.