Larimar Therapeutics initiated with an Outperform at Oppenheimer

Oppenheimer initiated coverage of Larimar Therapeutics with an Outperform rating and $26 price target The firm says the company’s nomlabofusp stands out as the only protein replacement therapy designed to address the root cause of Friedreich’s ataxia, a rare and debilitating neurodegenerative disease affecting 20,000 patients. Larimar makes a strong case for accelerated approval with the use of endogenous frataxin as a surrogate endpoint to predict functional outcomes, the analyst tells investors in a research note.