Larimar Therapeutics initiated with a Buy at JonesResearch

JonesResearch initiated coverage of Larimar Therapeutics with a Buy rating and $14 price target. The firm is bullish on Larimar’s lead asset nomlabofusp, a protein replacement therapy in Phase 2 for Friedreich’s ataxia. The analyst says Friedreich’s ataxia remains an area of high unmet need, with no approved disease-modifying therapies. Nomlabofusp is “reasonably likely to get over the finish line,” though the question of accelerated approval needs to be resolved, the analyst tells investors in a research note.