HC Wainwright Issues Positive Forecast for Larimar Therapeutics (NASDAQ:LRMR) Stock Price

Larimar Therapeutics (NASDAQ:LRMR) had its price target boosted by HC Wainwright from $15.00 to $16.00 in a research note released on Tuesday morning,Benzinga reports. HC Wainwright currently has a buy rating on the stock.

LRMR has been the subject of a number of other reports. Robert W. Baird reduced their target price on shares of Larimar Therapeutics from $13.00 to $10.00 and set an “outperform” rating for the company in a research note on Tuesday. Truist Financial started coverage on Larimar Therapeutics in a report on Wednesday, January 29th. They issued a “buy” rating and a $18.00 price objective for the company. Eleven investment 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, the company has a consensus rating of “Buy” and a consensus price target of $20.22.

Larimar Therapeutics Stock Up 1.3 %

LRMR opened at $2.31 on Tuesday. The company’s 50-day moving average price is $3.14 and its 200 day moving average price is $5.20. Larimar Therapeutics has a fifty-two week low of $2.22 and a fifty-two week high of $11.20. The firm has a market cap of $147.39 million, a price-to-earnings ratio of -2.01 and a beta of 0.99.

Larimar Therapeutics (NASDAQ:LRMR) last issued its earnings results on Monday, March 24th. The company reported ($0.45) earnings per share for the quarter, missing the consensus estimate of ($0.29) by ($0.16). Research analysts anticipate that Larimar Therapeutics will post -1.15 earnings per share for the current year.

Institutional Trading of Larimar Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets bought a new position in shares of Larimar Therapeutics in the fourth quarter valued at $25,000. Algert Global LLC acquired a new stake in shares of Larimar Therapeutics during the fourth quarter worth $47,000. China Universal Asset Management Co. Ltd. purchased a new stake in shares of Larimar Therapeutics during the fourth quarter valued at $52,000. Graham Capital Management L.P. acquired a new position in shares of Larimar Therapeutics in the 4th quarter valued at $54,000. Finally, ProShare Advisors LLC purchased a new position in Larimar Therapeutics in the 4th quarter worth about $58,000. 91.92% of the stock is 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.