Buy Rating for Larimar Therapeutics Driven by Regulatory Progress and FDA Support

LifeSci Capital analyst Cory Jubinville, PhD has maintained their bullish stance on LRMR stock, giving a Buy rating on April 23.

Cory Jubinville, PhD has given his Buy rating due to a combination of factors including Larimar Therapeutics’ significant regulatory progress with their drug nomlabofusp (nomla) for Friedreich’s Ataxia. The FDA’s designation of skin cell frataxin levels as a surrogate endpoint that could support accelerated approval is a critical milestone, indicating potential for expedited development. Additionally, the company’s involvement in the FDA’s competitive START pilot program highlights the promising nature of their therapy.
Furthermore, Larimar is on track to provide a substantial data update in September, with all active patients now on a 50mg dose and the completion of the adolescent PK run-in study. The company’s commitment to advancing a global Phase 3 confirmatory study further strengthens their position. Despite broader sector uncertainties, the FDA’s support for therapies addressing rare diseases with high unmet needs, such as nomla, reinforces the potential for continued progress and support for Larimar’s initiatives.

In another report released on April 23, JMP Securities also reiterated a Buy rating on the stock with a $21.00 price target.