Larimar Therapeutics price target raised to $25 from $17 at JMP Securities

JMP Securities analyst Jonathan Wolleben raised the firm’s price target on Larimar Therapeutics to $25 from $17 and keeps an Outperform rating on the shares. Larimar’s data on nomlabofusp hit the firm’s expectations with the FDA receptive to using frataxin as a surrogate endpoint for accelerated approval, which provides the potential for a less risky, faster, and more cost-effective path to approval, the analyst tells investors in a research note. The firm views the frataxin increases as convincing given the dose-dependent nature, consistent patient-level changes and magnitude of change with all 50 mg patients with quantifiable frataxin levels achieving levels in skin cells greater than 33% of the average healthy volunteer and three patients achieving levels greater than 50%.