Samantha Semenkow, an analyst from Citi, maintained the Buy rating on Larimar Therapeutics. The associated price target remains the same with $12.00.
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Samantha Semenkow’s rating is based on several key factors that highlight the potential of Larimar Therapeutics. The company is progressing well with its global Phase 3 trial for nomlabofusp, a frataxin protein replacement therapy, which has a novel mechanism of action. The trial design has been agreed upon by both the FDA and EMA, with specific endpoints that align with regulatory expectations, minimizing the risk of regulatory setbacks. Additionally, the recent Complete Response Letter (CRL) for a competitor’s product does not impact Larimar’s clinical or regulatory development, further solidifying its position.
Moreover, Larimar is on track for a Biologics License Application (BLA) filing for accelerated approval by the second quarter of 2026. The FDA’s willingness to consider frataxin concentrations in skin as a surrogate endpoint for approval, along with the company’s supportive data, strengthens the case for a favorable regulatory outcome. The removal of a near-term competitor due to the CRL also presents a potential advantage for Larimar, enhancing its market position. These factors contribute to the Buy rating, with an expected share price return of 207.7% by November 2025.
In another report released yesterday, Citizens JMP also reiterated a Buy rating on the stock with a $18.00 price target.