Promising Developments and Strategic Timeline Drive Buy Rating for Larimar Therapeutics

William Blair analyst Myles Minter has maintained their bullish stance on LRMR stock, giving a Buy rating on August 19.

Myles Minter has given his Buy rating due to a combination of factors, primarily centered around the promising developments in Larimar Therapeutics’ ongoing clinical studies. The interim data from their open-label study of nomlabofusp for Friedreich’s ataxia is anticipated to provide significant insights, particularly focusing on skin frataxin expression and various clinical outcomes. This data, expected to be released in September, could demonstrate a favorable safety profile and efficacy, which are crucial for the company’s regulatory strategy.
Minter also highlights the strategic timeline for Larimar’s BLA submission, aiming for accelerated approval by the second quarter of 2026. The company’s participation in the START program and the requirement to evaluate extensive safety data from participants further strengthen the potential for a positive regulatory outcome. The analyst’s base case scenario suggests a substantial upside potential for the stock, driven by the expected median FXN expression levels and the overall risk/benefit profile of nomlabofusp, supporting the Buy recommendation.

In another report released on August 19, Guggenheim also maintained a Buy rating on the stock with a $26.00 price target.