aTyr Pharma's Cash Runway Secured till 2026, Despite Lack of Material Catalysts: Oppenheimer Analyst
Portfolio Pulse from Vandana Singh
Oppenheimer has downgraded aTyr Pharma Inc (NASDAQ:LIFE) to Perform from Outperform, citing a lack of material catalysts in the next few quarters. The analyst has also removed the price target of $17. The company's cash balance was $117.6 million as of March 31, sufficient to provide a cash runway into 2026. LIFE shares are down 5.61% at $2.11 during the premarket session.
July 05, 2023 | 7:35 pm
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Oppenheimer has downgraded aTyr Pharma Inc (NASDAQ:LIFE) due to a lack of material catalysts in the near future. The company's cash runway is secured till 2026, but the stock price is down 5.61%.
The downgrade by Oppenheimer due to lack of material catalysts in the near future is likely to negatively impact the stock price of aTyr Pharma Inc. The removal of the price target of $17 also indicates a lack of confidence in the company's short-term performance. However, the company's cash runway is secured till 2026, which might provide some stability.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100