LifeSci Capital analyst Cory Jubinville, PhD has maintained their bullish stance on LRMR stock, giving a Buy rating yesterday.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Cory Jubinville, PhD has given his Buy rating due to a combination of factors that highlight the potential of Larimar Therapeutics’ nomlabofusp (nomla) treatment for Friedreich’s ataxia. The data presented shows a significant increase in median skin cell frataxin levels among patients, which is a promising indicator of efficacy. Additionally, patients demonstrated functional improvement, which further supports the potential benefits of the therapy.
Despite concerns about anaphylaxis events associated with nomla, Jubinville draws a parallel with BioMarin’s Palynziq, which faced similar challenges but achieved commercial success. The survey of physicians treating Friedreich’s ataxia indicates a general comfort with the risk-benefit profile of nomla, given the severity of the disease and the high unmet need. This suggests that the anaphylaxis risk may not significantly hinder adoption, especially if the therapy receives full approval based on functional data.
In another report released yesterday, Oppenheimer also maintained a Buy rating on the stock with a $21.00 price target.