Leerink Partners analyst Joori Park has reiterated their bullish stance on LRMR stock, giving a Buy rating on August 19.
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Joori Park has given his Buy rating due to a combination of factors that suggest a positive outlook for Larimar Therapeutics. The recent FDA decision on PTCT’s vatiquinone, which resulted in a complete response letter, leaves a gap in treatment options for Friedreich’s ataxia, potentially benefiting Larimar’s enrollment efforts for their ongoing trials. This lack of competition could facilitate the recruitment of participants, especially in their pediatric study, enhancing the prospects for their drug, nomlabofusp.
Moreover, the FDA’s openness to considering skin frataxin concentration as a surrogate endpoint for accelerated approval is a favorable sign for Larimar’s regulatory pathway. The anticipated data from their Phase 2 OLE 50mg trial, expected in September, is likely to provide critical insights into safety and efficacy, further supporting the Buy recommendation. The upcoming data will include important metrics such as skin frataxin concentrations, clinical outcomes, and safety results, which are crucial for assessing the drug’s potential success.
In another report released on August 19, Citi also reiterated a Buy rating on the stock with a $12.00 price target.