Larimar Therapeutics’ (LRMR) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Larimar Therapeutics (NASDAQ:LRMR) in a research note released on Monday morning,Benzinga reports. HC Wainwright currently has a $15.00 price objective on the stock.

Several other research analysts also recently weighed in on the stock. Baird R W raised shares of Larimar Therapeutics to a “strong-buy” rating in a research note on Wednesday, September 4th. Robert W. Baird assumed coverage on shares of Larimar Therapeutics in a research report on Wednesday, September 4th. They issued an “outperform” rating and a $16.00 price objective for the company. Wedbush initiated coverage on shares of Larimar Therapeutics in a research note on Thursday, October 3rd. They issued an “outperform” rating and a $22.00 target price for the company. Finally, Oppenheimer assumed coverage on Larimar Therapeutics in a research note on Wednesday, October 16th. They set an “outperform” rating and a $26.00 price target on the stock. Ten equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $20.43.

Larimar Therapeutics Trading Down 4.7 %

Shares of Larimar Therapeutics stock opened at $6.08 on Monday. The company has a 50-day moving average of $7.29 and a two-hundred day moving average of $7.89. Larimar Therapeutics has a 12-month low of $3.05 and a 12-month high of $13.68. The stock has a market cap of $387.96 million, a PE ratio of -5.29 and a beta of 0.95.

Larimar Therapeutics (NASDAQ:LRMR) last posted its earnings results on Wednesday, October 30th. The company reported ($0.24) earnings per share for the quarter, beating the consensus estimate of ($0.37) by $0.13. During the same period last year, the business posted ($0.21) earnings per share. On average, sell-side analysts forecast that Larimar Therapeutics will post -1.16 EPS for the current fiscal year.

Institutional Investors Weigh In On Larimar Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in LRMR. Quarry LP grew its holdings in shares of Larimar Therapeutics by 966.7% during the 2nd quarter. Quarry LP now owns 8,000 shares of the company’s stock worth $58,000 after purchasing an additional 7,250 shares during the period. Quest Partners LLC lifted its position in Larimar Therapeutics by 171.1% during the third quarter. Quest Partners LLC now owns 9,183 shares of the company’s stock valued at $60,000 after buying an additional 5,796 shares in the last quarter. Virtu Financial LLC purchased a new stake in Larimar Therapeutics during the third quarter worth approximately $71,000. Intech Investment Management LLC acquired a new stake in shares of Larimar Therapeutics in the third quarter worth $85,000. Finally, Thoroughbred Financial Services LLC purchased a new position in shares of Larimar Therapeutics in the 2nd quarter valued at $94,000. 91.92% of the stock is currently owned by institutional investors and hedge funds.

Larimar Therapeutics Company Profile

Larimar Therapeutics, Inc, a clinical-stage biotechnology company, focuses on developing treatments for rare diseases using its novel cell penetrating peptide technology platform. Its lead product candidate is CTI-1601, which is in Phase 2 OLE clinical trial for the treatment of Friedreich's ataxia, a rare, progressive and fatal genetic disease.