Leerink Partners analyst Joseph Schwartz maintained a Buy rating on Larimar Therapeutics (LRMR – Research Report) on June 23 and set a price target of $25.00.
Don’t Miss TipRanks’ Half-Year Sale
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Joseph Schwartz has given his Buy rating due to a combination of factors that highlight Larimar Therapeutics’ promising regulatory progress and potential for accelerated approval. The company is advancing its nomlabofusp treatment for Friedreich’s ataxia, with a clear path to a Biologics License Application (BLA) submission under Accelerated Approval. This progress is supported by recent positive updates from regulatory discussions, which include specific safety data requirements that the company is on track to meet.
Schwartz is optimistic about the potential for a broad Accelerated Approval label, which could significantly enhance the market opportunity for Larimar. The increased probability of success for the pediatric application, now aligned with the adult indication, further strengthens the investment case. Despite a slight delay in the anticipated approval and launch timeline, the analyst maintains a positive outlook on the stock, reflected in the maintained price target and Outperform rating.
In another report released yesterday, Guggenheim also reiterated a Buy rating on the stock with a $26.00 price target.