ATyr Pharma Rated as Overweight at Cantor Fitzgerald on Efzofitimod Expectations

aTyr Pharma, Inc. (NASDAQ:ATYR) is one of the top multibagger penny stocks to buy, according to analysts. On August 4, analysts at Cantor Fitzgerald reiterated an ‘Overweight’ rating on the stock. The positive stance comes as the company is poised to present the Phase 3 trial for Efzofitimod, an NRP2 modulator being tested for Pulmonary Sarcoidosis (PS).

The research firm expects the company to present topline results at the European Respiratory Society conference in September. According to Cantor Fitzgerald, aTyr executed the trial effectively. Consequently, it expects significant share price movement attributed to the trial results.

The firm expects the aTyr share price to move to between $15 and $20, representing up to 300% upside potential. Similarly, an unsuccessful trial result could push the stock price below the $1-per-share level.

aTyr Pharma, Inc. (NASDAQ:ATYR) is a clinical-stage biotechnology company that focuses on developing therapies for fibrosis and inflammation using a unique approach based on tRNA synthetase biology. It leverages evolutionary intelligence to translate tRNA synthetase biology into new therapies. Its lead therapeutic candidate, Efzofitimod, is being investigated for interstitial lung diseases (ILDs) like pulmonary sarcoidosis and systemic sclerosis-related ILD.

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Disclosure: None. This article is originally published at Insider Monkey.