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

HC Wainwright reiterated their buy rating on shares of Larimar Therapeutics (NASDAQ:LRMR) in a research note issued to investors on Monday morning,Benzinga reports. HC Wainwright currently has a $15.00 price objective on the stock.

Other research analysts have also recently issued research reports about the company. Oppenheimer started 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. Wedbush initiated coverage on Larimar Therapeutics in a research report 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 research report on Wednesday, September 4th. They set 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. Ten analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $20.43.

Larimar Therapeutics Stock Down 4.7 %

NASDAQ LRMR opened at $6.08 on Monday. Larimar Therapeutics has a fifty-two week low of $3.05 and a fifty-two week high of $13.68. The business has a 50 day moving average price of $7.29 and a two-hundred day moving average price of $7.89. The stock has a market cap of $387.96 million, a PE ratio of -5.29 and a beta of 0.95.

Larimar Therapeutics (NASDAQ:LRMR) last released its quarterly earnings results on Wednesday, October 30th. The company reported ($0.24) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.37) by $0.13. During the same quarter in the previous year, the company posted ($0.21) EPS. Sell-side analysts anticipate that Larimar Therapeutics will post -1.16 EPS for the current fiscal year.

Institutional Trading of Larimar Therapeutics

Several institutional investors have recently added to or reduced their stakes in the business. RA Capital Management L.P. acquired a new position in shares of Larimar Therapeutics in the 1st quarter valued at about $45,884,000. Janus Henderson Group PLC grew its holdings in shares of Larimar Therapeutics by 27.2% during the third quarter. Janus Henderson Group PLC now owns 5,566,855 shares of the company’s stock valued at $36,379,000 after purchasing an additional 1,189,467 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Larimar Therapeutics by 62.7% in the 1st 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 during the last quarter. Driehaus Capital Management LLC boosted its position in Larimar Therapeutics by 20.8% during the 2nd quarter. Driehaus Capital Management LLC now owns 1,314,106 shares of the company’s stock valued at $9,527,000 after purchasing an additional 225,879 shares during the period. Finally, Millennium Management LLC grew its stake in Larimar Therapeutics by 30.2% during the 2nd quarter. Millennium Management LLC now owns 1,018,135 shares of the company’s stock worth $7,381,000 after buying an additional 235,865 shares during the last quarter. 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.