Larimar Therapeutics (NASDAQ:LRMR) Earns “Buy” Rating from HC Wainwright

Larimar Therapeutics (NASDAQ:LRMR)‘s stock had its “buy” rating restated by equities researchers at HC Wainwright in a report issued on Friday,Benzinga reports. They presently have a $15.00 price target on the stock. HC Wainwright’s target price points to a potential upside of 318.99% from the company’s previous close.

LRMR has been the subject of several other research reports. Oppenheimer assumed coverage on shares of Larimar Therapeutics in a research report on Wednesday, October 16th. They set an “outperform” rating and a $26.00 price target for the company. Wedbush initiated coverage on shares of Larimar Therapeutics in a report on Thursday, October 3rd. They set an “outperform” rating and a $22.00 target price for the company. Finally, William Blair reissued an “outperform” rating on shares of Larimar Therapeutics in a research note on Tuesday, November 19th. 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. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $20.43.

Larimar Therapeutics Stock Performance

Larimar Therapeutics stock opened at $3.58 on Friday. Larimar Therapeutics has a 1 year low of $3.01 and a 1 year high of $13.68. The firm’s 50 day moving average price is $4.80 and its two-hundred day moving average price is $6.81. The firm has a market cap of $228.44 million, a price-to-earnings ratio of -3.11 and a beta of 0.91.

Larimar Therapeutics (NASDAQ:LRMR) last posted its quarterly earnings data 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 quarter last year, the firm posted ($0.21) earnings per share. As a group, equities analysts predict that Larimar Therapeutics will post -1.16 EPS for the current fiscal year.

Hedge Funds Weigh In On Larimar Therapeutics

Several hedge funds have recently modified their holdings of LRMR. JPMorgan Chase & Co. raised its holdings in Larimar Therapeutics by 18.7% during the third quarter. JPMorgan Chase & Co. now owns 21,771 shares of the company’s stock worth $143,000 after acquiring an additional 3,425 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of Larimar Therapeutics by 21.9% during the 3rd quarter. Franklin Resources Inc. now owns 19,723 shares of the company’s stock worth $143,000 after purchasing an additional 3,549 shares in the last quarter. Quarry LP raised its stake in shares of Larimar Therapeutics by 50.0% during the 3rd quarter. Quarry LP now owns 12,000 shares of the company’s stock worth $79,000 after purchasing an additional 4,000 shares in the last quarter. SG Americas Securities LLC boosted its holdings in shares of Larimar Therapeutics by 35.1% in the 4th quarter. SG Americas Securities LLC now owns 19,391 shares of the company’s stock valued at $75,000 after buying an additional 5,042 shares during the last quarter. Finally, Quest Partners LLC grew its stake in shares of Larimar Therapeutics by 171.1% in 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. Institutional investors own 91.92% of the company’s stock.

About Larimar Therapeutics

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.