Why Did Wainwright Beef Up ATyr Pharma's Price Target?

H.C. Wainwright increased the price target on ATyr Pharma LIFE to $18 from $13, with the Buy rating unchanged, implying more than 120% upside.
Today, the Company reported positive data from a pulmonary sarcoidosis trial evaluating ATYR1923.
Related Content: Why Are ATyr Pharma's Shares Trading Higher Today?
Analyst Joseph Pantginis notes that there are currently no drugs approved for pulmonary sarcoidosis, believes the "broad set of positive data and trends in the efficacy endpoints provide solid footing" for a planned FDA meeting.
Price Action: LIFE shares are up 43.20% at $7.87 during the market session on the last check Monday.

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