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 report released on Friday,Benzinga reports. The brokerage currently has a $15.00 price objective on the stock.

LRMR has been the subject of a number of other research reports. William Blair reissued an “outperform” rating on shares of Larimar Therapeutics in a report on Tuesday, November 19th. Oppenheimer began coverage on Larimar Therapeutics in a research note on Wednesday, October 16th. They set an “outperform” rating and a $26.00 target price for the company. Finally, Wedbush began coverage on shares of Larimar Therapeutics in a research note on Thursday, October 3rd. They issued an “outperform” rating and a $22.00 price target on the stock. Ten analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $20.43.

Larimar Therapeutics Trading Down 1.4 %

Shares of NASDAQ:LRMR opened at $3.58 on Friday. The firm has a 50 day moving average of $4.80 and a 200-day moving average of $6.80. Larimar Therapeutics has a 12 month low of $3.01 and a 12 month high of $13.68. The stock has a market capitalization of $228.43 million, a PE ratio of -3.11 and a beta of 0.91.

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. bought a new stake in Larimar Therapeutics during the fourth quarter valued at $52,000. Quarry LP lifted its stake in shares of 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 purchasing an additional 7,250 shares during the period. Quest Partners LLC boosted its position in shares of Larimar Therapeutics by 171.1% during 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 in the last quarter. Virtu Financial LLC bought a new stake in shares of Larimar Therapeutics during the 3rd quarter valued at about $71,000. Finally, SG Americas Securities LLC grew its stake in Larimar Therapeutics by 35.1% during the fourth quarter. SG Americas Securities LLC now owns 19,391 shares of the company’s stock worth $75,000 after purchasing an additional 5,042 shares during the period. 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.