Larimar Therapeutics (NASDAQ:LRMR) Now Covered by Analysts at Truist Financial

Investment analysts at Truist Financial started coverage on shares of Larimar Therapeutics (NASDAQ:LRMR) in a research report issued on Wednesday,Briefing.com Automated Import reports. The firm set a “buy” rating and a $18.00 price target on the stock. Truist Financial’s target price points to a potential upside of 417.24% from the company’s current price.

Several other equities research analysts also recently weighed in on the company. Oppenheimer began coverage on Larimar Therapeutics in a research report on Wednesday, October 16th. They set an “outperform” rating and a $26.00 price target on the stock. HC Wainwright reaffirmed a “buy” rating and set a $15.00 target price on shares of Larimar Therapeutics in a report on Friday, January 24th. William Blair reissued an “outperform” rating on shares of Larimar Therapeutics in a report on Tuesday, November 19th. Finally, Wedbush started coverage on shares of Larimar Therapeutics in a research note on Thursday, October 3rd. They set an “outperform” rating and a $22.00 price objective on the stock. Eleven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Larimar Therapeutics presently has a consensus rating of “Buy” and a consensus target price of $20.13.

Larimar Therapeutics Stock Up 0.6 %

Shares of NASDAQ:LRMR opened at $3.48 on Wednesday. The business has a 50-day moving average price of $4.69 and a 200-day moving average price of $6.69. The stock has a market cap of $222.06 million, a price-to-earnings ratio of -3.03 and a beta of 0.91. Larimar Therapeutics has a 52-week low of $3.01 and a 52-week high of $13.68.

Larimar Therapeutics (NASDAQ:LRMR) last announced its quarterly earnings data on Wednesday, October 30th. The company reported ($0.24) EPS for the quarter, beating the consensus estimate of ($0.37) by $0.13. During the same quarter last year, the firm earned ($0.21) EPS. As a group, equities analysts anticipate that Larimar Therapeutics will post -1.16 EPS for the current fiscal year.

Institutional Investors Weigh In On Larimar Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. China Universal Asset Management Co. Ltd. acquired a new stake in shares of Larimar Therapeutics in the fourth quarter valued at about $52,000. Quarry LP lifted its stake in Larimar Therapeutics by 966.7% in the 2nd quarter. Quarry LP now owns 8,000 shares of the company’s stock valued at $58,000 after buying an additional 7,250 shares in the last quarter. Quest Partners LLC increased its stake in Larimar Therapeutics by 171.1% during the 3rd quarter. Quest Partners LLC now owns 9,183 shares of the company’s stock worth $60,000 after buying an additional 5,796 shares in the last quarter. Virtu Financial LLC purchased a new stake in Larimar Therapeutics during the 3rd quarter worth approximately $71,000. Finally, SG Americas Securities LLC raised its holdings in shares of Larimar Therapeutics by 35.1% during the fourth quarter. SG Americas Securities LLC now owns 19,391 shares of the company’s stock valued at $75,000 after acquiring an additional 5,042 shares during the last quarter. Hedge funds and other institutional investors own 91.92% of the company’s stock.

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.