Truist sees ‘significant upside’ for Larimar Therapeutics, starts with a Buy

As previously reported, Truist initiated coverage of Larimar Therapeutics (LRMR) with a Buy rating and $18 price target Despite “promising” preclinical, Phase 1, and Phase 2 data in Friedreich’s ataxia, two key debates have weighed on shares over the last couple of years, namely safety and debate around buccal/skin FXN as an approvable surrogate endpoint, the analyst tells investors. However, the firm sees “significant upside” over the next six months as the Street better appreciates the risk/benefit profile of nomlabofusp, coupled with regulatory clarity, the analyst added.