Larimar Therapeutics price target lowered to $21 from $26 at Oppenheimer

Oppenheimer analyst Andreas Argyrides lowered the firm’s price target on Larimar Therapeutics (LRMR) to $21 from $26 to reflect the share count change following the recent capital raise, while keeping an Outperform rating on the shares. The firm notes Larimar reported positive results from the 50mg OLE cohort of nomla, supporting its use as the potentially first disease-modifying treatment in Friedreich’s ataxia. Data were positive, demonstrating all OLE patients at 6-months reached skin frataxin levels over 50% of healthy volunteers along with improvements in clinical outcomes, though the seven cases of reported anaphylaxis in the OLE drew concern; while a potential concern, anaphylaxis is manageable. Oppenheimer sees the stock’s rebound from the previous day’s selloff reflecting nomla’s favorable benefit-risk profile in FA and still sees a buying opportunity ahead of the Q2 2026 BLA submission, followed by a potential early 2027 launch.