Truist Financial Initiates Coverage on Larimar Therapeutics (NASDAQ:LRMR)

Truist Financial assumed coverage on shares of Larimar Therapeutics (NASDAQ:LRMRGet Free Report) in a report issued on Wednesday, MarketBeat.com reports. The brokerage set a “buy” rating and a $18.00 price target on the stock. Truist Financial’s price target would indicate a potential upside of 353.40% from the company’s current price.

Other equities analysts also recently issued research reports about the company. Wedbush started coverage on Larimar Therapeutics in a report on Thursday, October 3rd. They set an “outperform” rating and a $22.00 price target on the stock. William Blair reiterated an “outperform” rating on shares of Larimar Therapeutics in a report on Tuesday, November 19th. Oppenheimer started coverage on shares of Larimar Therapeutics in a research report on Wednesday, October 16th. They set an “outperform” rating and a $26.00 target price for the company. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $15.00 price target on shares of Larimar Therapeutics in a research report on Friday, January 24th. Eleven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $20.13.

Get Our Latest Report on LRMR

Larimar Therapeutics Price Performance

Larimar Therapeutics stock opened at $3.97 on Wednesday. Larimar Therapeutics has a one year low of $3.01 and a one year high of $13.68. The company’s fifty day moving average price is $4.64 and its two-hundred day moving average price is $6.67. The company has a market capitalization of $253.33 million, a price-to-earnings ratio of -3.45 and a beta of 0.91.

Larimar Therapeutics (NASDAQ:LRMRGet Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The company reported ($0.24) EPS for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.13. During the same period last year, the business posted ($0.21) EPS. As a group, sell-side analysts anticipate that Larimar Therapeutics will post -1.16 earnings per share for the current year.

Institutional Investors Weigh In On Larimar Therapeutics

Several hedge funds have recently made changes to their positions in LRMR. Squarepoint Ops LLC increased its stake in Larimar Therapeutics by 174.6% during the second quarter. Squarepoint Ops LLC now owns 29,858 shares of the company’s stock valued at $216,000 after acquiring an additional 69,858 shares during the period. AQR Capital Management LLC bought a new stake in shares of Larimar Therapeutics during the second quarter valued at approximately $113,000. Millennium Management LLC increased its position in shares of Larimar Therapeutics by 30.2% during the second quarter. Millennium Management LLC now owns 1,018,135 shares of the company’s stock valued at $7,381,000 after purchasing an additional 235,865 shares during the period. The Manufacturers Life Insurance Company acquired a new position in shares of Larimar Therapeutics in the second quarter valued at $120,000. Finally, Quarry LP lifted its position in Larimar Therapeutics by 966.7% in the second 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. Institutional investors own 91.92% of the company’s stock.

About Larimar Therapeutics

(Get Free Report)

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.

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