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

Larimar Therapeutics (NASDAQ:LRMR)‘s stock had its “buy” rating reaffirmed by stock analysts at HC Wainwright in a report released on Monday,Benzinga reports. They currently have a $15.00 price objective on the stock. HC Wainwright’s price target suggests a potential upside of 135.11% from the stock’s previous close.

A number of other analysts have also weighed in on the company. Oppenheimer assumed coverage on Larimar Therapeutics in a research note on Wednesday, October 16th. They set an “outperform” rating and a $26.00 price objective for the company. Wedbush assumed coverage on Larimar Therapeutics in a research note on Thursday, October 3rd. They set an “outperform” rating and a $22.00 price objective for the company. Baird R W raised Larimar Therapeutics to a “strong-buy” rating in a research note on Wednesday, September 4th. Finally, Robert W. Baird assumed coverage on Larimar Therapeutics in a research note on Wednesday, September 4th. They set an “outperform” rating and a $16.00 price objective for the company. Ten 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, the company has an average rating of “Buy” and a consensus price target of $20.43.

Larimar Therapeutics Price Performance

Shares of NASDAQ LRMR opened at $6.38 on Monday. Larimar Therapeutics has a one year low of $3.05 and a one year high of $13.68. The firm’s 50 day simple moving average is $7.32 and its two-hundred day simple moving average is $7.91. The stock has a market capitalization of $407.09 million, a P/E ratio of -5.55 and a beta of 0.95.

Larimar Therapeutics (NASDAQ:LRMR) last issued its quarterly earnings results 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 quarter in the prior year, the firm earned ($0.21) EPS. As a group, equities analysts expect that Larimar Therapeutics will post -1.16 earnings per share for the current fiscal year.

Institutional Trading of Larimar Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Quarry LP lifted its stake 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 acquiring an additional 7,250 shares during the period. Quest Partners LLC raised its holdings in Larimar Therapeutics by 171.1% in the third quarter. Quest Partners LLC now owns 9,183 shares of the company’s stock worth $60,000 after purchasing an additional 5,796 shares in the last quarter. Intech Investment Management LLC bought a new position in Larimar Therapeutics in the third quarter worth $85,000. Thoroughbred Financial Services LLC bought a new position in Larimar Therapeutics in the second quarter worth $94,000. Finally, EntryPoint Capital LLC bought a new position in Larimar Therapeutics in the first quarter worth $106,000. 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.