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

HC Wainwright reiterated their buy rating on shares of Larimar Therapeutics (NASDAQ:LRMRFree Report) in a research note published on Thursday morning, Benzinga reports. The firm currently has a $15.00 target price on the stock.

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

Get Our Latest Stock Analysis on Larimar Therapeutics

Larimar Therapeutics Stock Down 2.6 %

Shares of LRMR traded down $0.21 during midday trading on Thursday, reaching $8.02. 60,859 shares of the stock were exchanged, compared to its average volume of 564,953. The company has a market cap of $511.76 million, a price-to-earnings ratio of -7.15 and a beta of 0.98. Larimar Therapeutics has a 12-month low of $2.18 and a 12-month high of $13.68. The firm has a 50 day simple moving average of $7.34 and a 200-day simple moving average of $7.80.

Larimar Therapeutics (NASDAQ:LRMRGet Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The company reported ($0.24) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.13. During the same period last year, the firm posted ($0.21) earnings per share. Research analysts expect that Larimar Therapeutics will post -1.38 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Larimar Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in LRMR. RA Capital Management L.P. bought a new stake in shares of Larimar Therapeutics in the 1st quarter valued at about $45,884,000. Janus Henderson Group PLC lifted its position in shares of Larimar Therapeutics by 52.2% in the first quarter. Janus Henderson Group PLC now owns 4,020,965 shares of the company’s stock valued at $30,459,000 after buying an additional 1,379,900 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of 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 acquiring an additional 912,458 shares during the period. Driehaus Capital Management LLC increased its holdings 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 acquiring an additional 225,879 shares during the last quarter. Finally, 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. 91.92% of the stock is owned by institutional investors.

About Larimar Therapeutics

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Larimar Therapeutics (NASDAQ:LRMR)

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