Larimar Therapeutics (NASDAQ:LRMR) Now Covered by Analysts at Oppenheimer

Oppenheimer began coverage on shares of Larimar Therapeutics (NASDAQ:LRMR) in a report published on Wednesday morning, MarketBeat Ratings reports. The firm issued an outperform rating and a $26.00 target price on the stock.

Several other equities research analysts also recently weighed in on the stock. HC Wainwright initiated coverage on shares of Larimar Therapeutics in a research note on Wednesday, October 2nd. They issued a “buy” rating and a $15.00 price target for the company. Baird R W raised shares of Larimar Therapeutics to a “strong-buy” rating in a research report on Wednesday, September 4th. Wedbush began coverage on Larimar Therapeutics in a research report on Thursday, October 3rd. They issued an “outperform” rating and a $22.00 price objective on the stock. Finally, Robert W. Baird started coverage on shares of Larimar Therapeutics in a research report on Wednesday, September 4th. They set an “outperform” rating and a $16.00 price target for the company. Nine investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $20.43.

Larimar Therapeutics Price Performance

Shares of NASDAQ:LRMR opened at $7.76 on Wednesday. Larimar Therapeutics has a 1 year low of $2.18 and a 1 year high of $13.68. The business’s 50-day moving average is $7.32 and its 200-day moving average is $7.77. The company has a market capitalization of $495.10 million, a price-to-earnings ratio of -8.00 and a beta of 0.98.

Larimar Therapeutics (NASDAQ:LRMR) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by ($0.02). Analysts anticipate that Larimar Therapeutics will post -1.39 EPS for the current year.

Institutional Investors Weigh In On Larimar Therapeutics

Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Larimar Therapeutics by 62.7% in the first quarter. Vanguard Group Inc. now owns 2,367,701 shares of the company’s stock worth $17,971,000 after purchasing an additional 912,458 shares in the last quarter. EntryPoint Capital LLC purchased a new position in Larimar Therapeutics in the 1st quarter valued at approximately $106,000. Janus Henderson Group PLC grew its stake in Larimar Therapeutics by 52.2% in the 1st quarter. Janus Henderson Group PLC now owns 4,020,965 shares of the company’s stock valued at $30,459,000 after buying an additional 1,379,900 shares in the last quarter. RA Capital Management L.P. bought a new stake in Larimar Therapeutics during the 1st quarter valued at $45,884,000. Finally, Virtu Financial LLC purchased a new stake in shares of Larimar Therapeutics during the first quarter worth $133,000. Hedge funds and other institutional investors own 91.92% of the company’s stock.

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.