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

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

Several other analysts have also recently commented on the company. William Blair reiterated an “outperform” rating on shares of Larimar Therapeutics in a research report on Tuesday, November 19th. Robert W. Baird started coverage on shares of Larimar Therapeutics in a research report on Wednesday, September 4th. They issued an “outperform” rating and a $16.00 target price for the company. Wedbush assumed coverage on shares of Larimar Therapeutics in a research report on Thursday, October 3rd. They set an “outperform” rating and a $22.00 price target on the stock. Baird R W raised shares of Larimar Therapeutics to a “strong-buy” rating in a research note on Wednesday, September 4th. Finally, Oppenheimer started coverage on shares of Larimar Therapeutics in a research note on Wednesday, October 16th. They issued an “outperform” rating and a $26.00 target price on the stock. Ten analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $20.43.

Larimar Therapeutics Stock Down 3.7 %

Shares of NASDAQ LRMR opened at $4.16 on Monday. The firm has a market cap of $265.44 million, a price-to-earnings ratio of -3.62 and a beta of 0.86. The company’s 50-day simple moving average is $7.03 and its 200-day simple moving average is $7.68. Larimar Therapeutics has a 52-week low of $3.01 and a 52-week high of $13.68.

Larimar Therapeutics (NASDAQ:LRMR) last posted its quarterly earnings data 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 period last year, the firm earned ($0.21) earnings per share. Equities research analysts anticipate that Larimar Therapeutics will post -1.16 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. Janus Henderson Group PLC lifted its holdings in Larimar Therapeutics by 27.2% in the third quarter. Janus Henderson Group PLC now owns 5,566,855 shares of the company’s stock valued at $36,379,000 after acquiring an additional 1,189,467 shares during the last quarter. Driehaus Capital Management LLC raised its position in Larimar Therapeutics by 20.8% in the second 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. Quest Partners LLC lifted its stake in shares of Larimar Therapeutics by 171.1% in the 3rd quarter. Quest Partners LLC now owns 9,183 shares of the company’s stock valued at $60,000 after purchasing an additional 5,796 shares during the last quarter. Point72 Asset Management L.P. grew its holdings in shares of Larimar Therapeutics by 37.7% during the 2nd quarter. Point72 Asset Management L.P. now owns 603,581 shares of the company’s stock worth $4,376,000 after purchasing an additional 165,181 shares during the period. Finally, Millennium Management LLC increased its position in shares of 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 purchasing an additional 235,865 shares during the last quarter. Institutional investors and hedge funds 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.