Larimar Therapeutics’ (LRMR) Buy Rating Reiterated at HC Wainwright

Larimar Therapeutics (NASDAQ:LRMR)‘s stock had its “buy” rating reissued by research analysts at HC Wainwright in a research note issued on Thursday, Benzinga reports. They presently have a $15.00 price target on the stock. HC Wainwright’s price target points to a potential upside of 77.30% from the company’s previous close.

LRMR has been the subject of a number of other research reports. Baird R W upgraded shares of Larimar Therapeutics to a “strong-buy” rating in a research note on Wednesday, September 4th. Robert W. Baird assumed coverage on Larimar Therapeutics in a report on Wednesday, September 4th. They issued an “outperform” rating and a $16.00 target price on the stock. Oppenheimer started coverage on Larimar Therapeutics in a research report on Wednesday, October 16th. They set an “outperform” rating and a $26.00 price objective for the company. Finally, Wedbush began coverage on Larimar Therapeutics in a research report on Thursday, October 3rd. They set an “outperform” rating and a $22.00 target price on the stock. Nine investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Larimar Therapeutics has an average rating of “Buy” and an average target price of $20.43.

Larimar Therapeutics Trading Up 8.7 %

Shares of NASDAQ LRMR opened at $8.46 on Thursday. The stock has a market cap of $539.81 million, a P/E ratio of -7.55 and a beta of 0.98. The business’s fifty day simple moving average is $7.33 and its 200-day simple moving average is $7.80. Larimar Therapeutics has a 12-month low of $2.18 and a 12-month high of $13.68.

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

Institutional Trading of Larimar Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in Larimar Therapeutics by 62.7% during the 1st 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. EntryPoint Capital LLC purchased a new position in shares of Larimar Therapeutics during the first quarter worth approximately $106,000. Janus Henderson Group PLC grew its position in shares of Larimar Therapeutics by 52.2% during 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 during the last quarter. RA Capital Management L.P. acquired a new position in shares of Larimar Therapeutics in the 1st quarter valued at $45,884,000. Finally, Virtu Financial LLC purchased a new stake in Larimar Therapeutics in the 1st quarter valued at $133,000. Institutional investors and hedge funds 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.