William Blair analyst Myles Minter has reiterated their bullish stance on LRMR stock, giving a Buy rating on August 4.
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Myles Minter has given his Buy rating due to a combination of factors including the promising upcoming data presentations from Larimar Therapeutics. The company is set to release important updates from its studies on nomlabofusp in Friedreich’s ataxia, particularly focusing on the 50 mg dose in their open-label extension study. This data is anticipated to be a significant catalyst for the company’s progress toward an accelerated approval application.
Minter also highlights the optimistic outlook of Larimar’s management regarding the expression levels of frataxin, which could serve as a surrogate endpoint for approval. Previous clinical data has shown promising results, with frataxin levels in patients reaching those of asymptomatic individuals. Additionally, the upcoming adolescent pharmacokinetic data presentation is expected to provide further insights, potentially strengthening the case for nomlabofusp’s efficacy and safety profile.
According to TipRanks, Minter is a 4-star analyst with an average return of 10.6% and a 47.41% success rate. Minter covers the Healthcare sector, focusing on stocks such as Dianthus Therapeutics, Moderna, and Arcturus Therapeutics.
In another report released on August 4, JonesTrading also maintained a Buy rating on the stock with a $10.00 price target.