William Blair analyst Myles Minter has reiterated their bullish stance on LRMR stock, giving a Buy rating today.
Myles Minter has given his Buy rating due to a combination of factors surrounding Larimar Therapeutics’ ongoing developments and regulatory progress. One key aspect is the Phase II open-label extension study of nomlabofusp for treating Friedreich’s ataxia, which is showing promising results. The study involves 30-40 patients, some of whom have been on the treatment for over a year, and the company has reported strong adherence to the therapy with no significant issues arising from its administration.
Minter also notes the company’s proactive engagement with the FDA, which remains steady despite recent agency changes. The FDA’s willingness to consider FXN levels in skin as a surrogate endpoint for accelerated approval is a positive regulatory development. Larimar is also preparing for a potential BLA submission by the end of the year, which could further enhance the stock’s value. These strategic moves and positive data updates contribute to Minter’s optimistic outlook on Larimar Therapeutics, justifying the Buy rating.
Minter covers the Healthcare sector, focusing on stocks such as Axsome Therapeutics, Arcturus Therapeutics, and Verve Therapeutics. According to TipRanks, Minter has an average return of 2.5% and a 42.69% success rate on recommended stocks.
In another report released today, LifeSci Capital also maintained a Buy rating on the stock with a $40.00 price target.