Larimar Therapeutics (NASDAQ:LRMR) Research Coverage Started at Oppenheimer

Oppenheimer assumed coverage on shares of Larimar Therapeutics (NASDAQ:LRMR) in a research note released on Wednesday, MarketBeat.com reports. The brokerage issued an outperform rating and a $26.00 target price on the stock.

Several other research firms have also commented on LRMR. HC Wainwright initiated coverage on shares of Larimar Therapeutics in a report on Wednesday, October 2nd. They issued a “buy” rating and a $15.00 price target on the stock. Wedbush began coverage on shares of Larimar Therapeutics in a research note on Thursday, October 3rd. They issued an “outperform” rating and a $22.00 target price on the stock. Robert W. Baird began coverage on shares of Larimar Therapeutics in a report on Wednesday, September 4th. They issued an “outperform” rating and a $16.00 price target for the company. Finally, Baird R W raised shares of Larimar Therapeutics to a “strong-buy” rating in a report on Wednesday, September 4th. Nine research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Larimar Therapeutics currently has a consensus rating of “Buy” and a consensus target price of $20.43.

Larimar Therapeutics Stock Performance

Shares of Larimar Therapeutics stock 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 company has a market capitalization of $495.10 million, a P/E ratio of -8.00 and a beta of 0.98. The company’s fifty day moving average is $7.32 and its two-hundred day moving average is $7.76.

Larimar Therapeutics (NASDAQ:LRMR) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.02). As a group, equities analysts expect that Larimar Therapeutics will post -1.39 earnings per share for the current year.

Institutional Trading of Larimar Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. RA Capital Management L.P. bought a new stake in shares of Larimar Therapeutics in the 1st quarter valued at $45,884,000. Janus Henderson Group PLC grew its position in shares of 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 acquiring an additional 1,379,900 shares during the period. Vanguard Group Inc. increased its position in Larimar Therapeutics by 62.7% during the first quarter. Vanguard Group Inc. now owns 2,367,701 shares of the company’s stock worth $17,971,000 after buying an additional 912,458 shares during the last quarter. Millennium Management LLC raised its stake in Larimar Therapeutics by 30.2% in the 2nd quarter. Millennium Management LLC now owns 1,018,135 shares of the company’s stock valued at $7,381,000 after acquiring an additional 235,865 shares during the period. Finally, Driehaus Capital Management LLC lifted its stake in shares of Larimar Therapeutics by 20.8% during the 2nd quarter. Driehaus Capital Management LLC now owns 1,314,106 shares of the company’s stock worth $9,527,000 after buying an additional 225,879 shares during the last quarter. 91.92% of the stock is currently owned by institutional investors and hedge funds.

About Larimar Therapeutics

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.