aTyr Pharma initiated with a Buy at Lucid Capital

Lucid Capital analyst Dev Prasad initiated coverage of aTyr Pharma (ATYR) with a Buy rating and $11 price target aTyr is developing a pipeline of potential first-in-class therapies that target novel pathways regulated by extracellular tRNA synthetases, the analyst tells investors in a research note. The firm says efzofitimod showed promising Phase 1b/2a results, with dose-dependent reductions in steroid use and improvements in pulmonary function versus placebo. Lucid views efzofitimod as “moderately de-risked with significant market” potential in pulmonary sarcoidosis.