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

HC Wainwright reissued their buy rating on shares of Larimar Therapeutics (NASDAQ:LRMR) in a report issued on Monday,Benzinga reports. HC Wainwright currently has a $15.00 price target on the stock.

A number of other research analysts have also issued reports on the stock. Oppenheimer started coverage on shares of Larimar Therapeutics in a report on Wednesday, October 16th. They issued an “outperform” rating and a $26.00 price objective for the company. Robert W. Baird started coverage on shares of Larimar Therapeutics in a report on Wednesday, September 4th. They set an “outperform” rating and a $16.00 price target for the company. Wedbush started coverage on shares of Larimar Therapeutics in a report on Thursday, October 3rd. They set an “outperform” rating and a $22.00 price target for the company. William Blair restated an “outperform” rating on shares of Larimar Therapeutics in a report on Tuesday, November 19th. Finally, Baird R W upgraded 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 issued a strong buy rating to the stock. According to data from MarketBeat, Larimar Therapeutics currently has a consensus rating of “Buy” and a consensus price target of $20.43.

Larimar Therapeutics Trading Down 21.7 %

LRMR opened at $4.83 on Monday. The company’s 50 day moving average is $7.14 and its 200-day moving average is $7.73. Larimar Therapeutics has a 1-year low of $3.01 and a 1-year high of $13.68. The company has a market cap of $308.20 million, a P/E ratio of -4.20 and a beta of 0.86.

Larimar Therapeutics (NASDAQ:LRMR) last posted its quarterly earnings results on Wednesday, October 30th. The company reported ($0.24) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.13. During the same quarter last year, the company earned ($0.21) earnings per share. On average, equities analysts forecast that Larimar Therapeutics will post -1.16 EPS for the current year.

Hedge Funds Weigh In On Larimar Therapeutics

Several institutional investors have recently bought and sold shares of LRMR. Quarry LP raised its holdings in Larimar Therapeutics by 966.7% during the 2nd quarter. Quarry LP now owns 8,000 shares of the company’s stock valued at $58,000 after acquiring an additional 7,250 shares during the period. Quest Partners LLC boosted its holdings in shares of Larimar Therapeutics by 171.1% in the third quarter. Quest Partners LLC now owns 9,183 shares of the company’s stock worth $60,000 after acquiring an additional 5,796 shares during the period. Virtu Financial LLC purchased a new position in shares of Larimar Therapeutics in the third quarter valued at $71,000. Intech Investment Management LLC bought a new stake in shares of Larimar Therapeutics during the 3rd quarter valued at $85,000. Finally, SG Americas Securities LLC purchased a new stake in Larimar Therapeutics during the 3rd quarter worth about $94,000. 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.