tiprankstipranks
Trending News
More News >

Positive Outlook for Larimar Therapeutics: Promising Data on Nomlabofusp and Anticipated Catalysts Drive Buy Rating

Positive Outlook for Larimar Therapeutics: Promising Data on Nomlabofusp and Anticipated Catalysts Drive Buy Rating

Samantha Semenkow, an analyst from Citi, maintained the Buy rating on Larimar Therapeutics. The associated price target remains the same with $14.00.

Don’t Miss TipRanks’ Half-Year Sale

Samantha Semenkow’s rating is based on several compelling factors. Larimar Therapeutics has recently published two peer-reviewed papers that provide significant nonclinical data on their drug, nomlabofusp. These studies demonstrate the drug’s pharmacokinetics, pharmacodynamics, and tissue distribution, which have been reviewed by the FDA. The data supports the potential use of skin frataxin levels as a surrogate endpoint for accelerated approval in treating Friedreich’s Ataxia, showing promise in increasing frataxin concentrations in relevant tissues such as the heart and skeletal muscles.
Samantha Semenkow also considers the upcoming data update on the 50mg open-label extension (OLE) as a crucial catalyst for the stock. This update is expected to provide further evidence of the drug’s efficacy and safety, particularly in maintaining stable frataxin levels and showing positive clinical outcomes. The anticipation of these results, along with the favorable risk/reward profile and the absence of hypersensitivity reactions in naive patients, contributes to the Buy rating. The expected share price return of 337.5% further underscores the positive outlook for Larimar Therapeutics.

In another report released on June 25, Guggenheim also reiterated a Buy rating on the stock with a $26.00 price target.

Disclaimer & DisclosureReport an Issue

1