HC Wainwright Reaffirms Buy Rating for Larimar Therapeutics (NASDAQ:LRMR)

HC Wainwright reissued their buy rating on shares of Larimar Therapeutics (NASDAQ:LRMR) in a research note released on Thursday morning, Benzinga reports. The brokerage currently has a $15.00 target price on the stock.

Other equities analysts have also issued reports about the stock. Oppenheimer began 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. Wedbush began coverage on shares of Larimar Therapeutics in a report on Thursday, October 3rd. They set an “outperform” rating and a $22.00 target price on the stock. Baird R W upgraded shares of Larimar Therapeutics to a “strong-buy” rating in a research report on Wednesday, September 4th. Finally, Robert W. Baird assumed coverage on Larimar Therapeutics in a research report on Wednesday, September 4th. They set an “outperform” rating and a $16.00 price target on the stock. Nine analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $20.43.

Larimar Therapeutics Trading Down 2.6 %

Shares of NASDAQ:LRMR traded down $0.21 during trading on Thursday, reaching $8.02. 60,859 shares of the stock were exchanged, compared to its average volume of 564,953. The firm has a market cap of $511.76 million, a PE 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 stock has a 50-day moving average price of $7.34 and a 200-day moving average price of $7.80.

Larimar Therapeutics (NASDAQ:LRMR) last issued its quarterly earnings data on Wednesday, October 30th. The company reported ($0.24) EPS for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.13. During the same period last year, the business earned ($0.21) earnings per share. On average, sell-side analysts expect that Larimar Therapeutics will post -1.38 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Larimar Therapeutics

A number of large investors have recently modified their holdings of the business. Quarry LP lifted its position in shares of Larimar Therapeutics by 966.7% during the 2nd quarter. Quarry LP now owns 8,000 shares of the company’s stock worth $58,000 after buying an additional 7,250 shares during the last quarter. Thoroughbred Financial Services LLC acquired a new position in Larimar Therapeutics during the second quarter worth about $94,000. EntryPoint Capital LLC bought a new position in shares of Larimar Therapeutics in the first quarter worth about $106,000. SG Americas Securities LLC acquired a new stake in shares of Larimar Therapeutics in the 3rd quarter valued at approximately $94,000. Finally, AQR Capital Management LLC bought a new stake in shares of Larimar Therapeutics during the 2nd quarter valued at approximately $113,000. 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.