Larimar Therapeutics (NASDAQ:LRMR) Given “Buy” Rating at HC Wainwright

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

Several other research firms have also issued reports on LRMR. Robert W. Baird started coverage on shares of Larimar Therapeutics in a research report on Wednesday, September 4th. They set an “outperform” rating and a $16.00 price target on the stock. William Blair reaffirmed an “outperform” rating on shares of Larimar Therapeutics in a research report on Tuesday, November 19th. Oppenheimer started coverage on shares of Larimar Therapeutics in a research report on Wednesday, October 16th. They set an “outperform” rating and a $26.00 price target on the stock. Baird R W raised shares of Larimar Therapeutics to a “strong-buy” rating in a research report on Wednesday, September 4th. Finally, 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. Ten investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Larimar Therapeutics has an average rating of “Buy” and an average target price of $20.43.

Larimar Therapeutics Trading Down 21.7 %

Shares of LRMR opened at $4.83 on Monday. Larimar Therapeutics has a 12 month low of $3.01 and a 12 month high of $13.68. The firm has a fifty day simple moving average of $7.14 and a 200 day simple moving average of $7.73. The stock has a market capitalization of $308.20 million, a price-to-earnings ratio of -4.20 and a beta of 0.86.

Larimar Therapeutics (NASDAQ:LRMR) last announced its earnings results on Wednesday, October 30th. The company reported ($0.24) EPS for the quarter, topping the consensus estimate of ($0.37) by $0.13. During the same quarter last year, the firm posted ($0.21) EPS. As a group, research analysts predict that Larimar Therapeutics will post -1.16 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Larimar Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the business. Franklin Resources Inc. grew its stake in Larimar Therapeutics by 21.9% during the third quarter. Franklin Resources Inc. now owns 19,723 shares of the company’s stock worth $143,000 after buying an additional 3,549 shares in the last quarter. Quarry LP grew its stake in Larimar Therapeutics by 50.0% during the third quarter. Quarry LP now owns 12,000 shares of the company’s stock worth $79,000 after buying an additional 4,000 shares in the last quarter. Quest Partners LLC grew its stake in Larimar Therapeutics by 171.1% during the third 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 acquired a new stake in Larimar Therapeutics during the third quarter worth about $71,000. Finally, Intech Investment Management LLC acquired a new stake in Larimar Therapeutics during the third quarter worth about $85,000. 91.92% of the stock is currently owned by institutional investors and hedge funds.

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.