aTyr Pharma initiated with an Overweight at Wells Fargo

Wells Fargo initiated coverage of aTyr Pharma with an Overweight rating and $17 price target The analyst believes efzofitimod’s odds of success in its Phase 3 sarcoidosis trial are much higher than investor estimates and the stocks’ risk/reward is “meaningfully skewed to the upside.” The shares move up prior to the Q3 data and up to 20-times if the readout is positive, the analyst tells investors in a research note. Wells believes efzofitimod’s mechanism of action is fairly de-risked in pulmonary sarcoidosis.