Oct. 2 at 2:27 PM
Oppenheimer lowered
$LRMR's price target to
$21 from
$26 to reflect the share count change following Larimar's recent capital raise; reiterated at Outperform.
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Oppenheimer said: 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 (FA).
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.
OPY sees LRMR'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.
