In a report released yesterday, Cory Jubinville, PhD from LifeSci Capital maintained a Buy rating on Larimar Therapeutics, with a price target of $33.00.
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Cory Jubinville, PhD has given his Buy rating due to a combination of factors that highlight Larimar Therapeutics’ promising advancements and strategic financial positioning. The company has made significant strides in its clinical development, particularly with its drug candidate nomlabofusp for Friedreich’s ataxia (FA). Key developments include the establishment of a safety database and the identification of global Phase 3 study sites, which are crucial steps towards seeking accelerated approval.
Additionally, the extension of the ongoing open-label extension (OLE) study to include adolescents and plans to enroll younger children demonstrate Larimar’s commitment to addressing FA across different age groups. The introduction of a lyophilized form of nomlabofusp for commercialization further strengthens their market readiness. Financially, Larimar has bolstered its runway by raising an additional $65.1 million, ensuring sufficient cash reserves to support its operations and strategic initiatives. These factors collectively underpin the Buy rating, reflecting confidence in the company’s potential for future growth and success.
In another report released yesterday, Citi also maintained a Buy rating on the stock with a $12.00 price target.