HC Wainwright Reiterates “Buy” Rating for Larimar Therapeutics (NASDAQ:LRMR)

Larimar Therapeutics (NASDAQ:LRMR)‘s stock had its “buy” rating reissued by research analysts at HC Wainwright in a research note issued to investors on Thursday, Benzinga reports. They currently have a $15.00 price objective on the stock. HC Wainwright’s target price suggests a potential upside of 93.80% from the company’s current price.

A number of other equities analysts have also commented on the company. Wedbush began coverage on Larimar Therapeutics in a research note on Thursday, October 3rd. They issued an “outperform” rating and a $22.00 price objective on the stock. Oppenheimer initiated coverage on Larimar Therapeutics in a research note on Wednesday, October 16th. They issued an “outperform” rating and a $26.00 price target on the stock. Robert W. Baird initiated coverage on Larimar Therapeutics in a research note on Wednesday, September 4th. They issued an “outperform” rating and a $16.00 price target on the stock. Finally, Baird R W upgraded Larimar Therapeutics to a “strong-buy” rating in a report on Wednesday, September 4th. Nine equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Larimar Therapeutics currently has a consensus rating of “Buy” and an average price target of $20.43.

Larimar Therapeutics Stock Performance

LRMR opened at $7.74 on Thursday. Larimar Therapeutics has a fifty-two week low of $2.18 and a fifty-two week high of $13.68. The company has a market capitalization of $493.89 million, a P/E ratio of -6.73 and a beta of 0.98. The stock has a fifty day moving average of $7.34 and a 200-day moving average of $7.81.

Larimar Therapeutics (NASDAQ:LRMR) last issued its quarterly earnings results on Wednesday, October 30th. The company reported ($0.24) EPS for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.13. During the same period in the prior year, the firm posted ($0.21) earnings per share. On average, equities research analysts predict that Larimar Therapeutics will post -1.38 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Larimar Therapeutics

Hedge funds have recently made changes to their positions in the company. RA Capital Management L.P. bought a new stake in Larimar Therapeutics in the first quarter worth $45,884,000. Janus Henderson Group PLC boosted its holdings in Larimar Therapeutics by 52.2% in the first quarter. Janus Henderson Group PLC now owns 4,020,965 shares of the company’s stock worth $30,459,000 after acquiring an additional 1,379,900 shares in the last quarter. Vanguard Group Inc. boosted its holdings in 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 acquiring an additional 912,458 shares in the last quarter. Driehaus Capital Management LLC boosted its holdings in Larimar Therapeutics by 20.8% in the second quarter. Driehaus Capital Management LLC now owns 1,314,106 shares of the company’s stock worth $9,527,000 after acquiring an additional 225,879 shares in the last quarter. Finally, Millennium Management LLC boosted its holdings in Larimar Therapeutics by 30.2% in the second quarter. Millennium Management LLC now owns 1,018,135 shares of the company’s stock worth $7,381,000 after acquiring an additional 235,865 shares in the last quarter. 91.92% of the stock is currently owned by institutional investors.

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.