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

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

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

Larimar Therapeutics Trading Down 3.7 %

NASDAQ LRMR opened at $4.16 on Monday. The firm’s fifty day simple moving average is $7.03 and its two-hundred day simple moving average is $7.68. The firm has a market capitalization of $265.44 million, a P/E ratio of -3.62 and a beta of 0.86. Larimar Therapeutics has a 12-month low of $3.01 and a 12-month high of $13.68.

Larimar Therapeutics (NASDAQ:LRMR) last announced its earnings results on Wednesday, October 30th. The company reported ($0.24) earnings per share for the quarter, topping the consensus estimate of ($0.37) by $0.13. During the same period in the previous year, the company earned ($0.21) EPS. As a group, sell-side 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 have recently made changes to their positions in the company. Janus Henderson Group PLC grew its position in Larimar Therapeutics by 27.2% during the third quarter. Janus Henderson Group PLC now owns 5,566,855 shares of the company’s stock valued at $36,379,000 after buying an additional 1,189,467 shares during the period. Driehaus Capital Management LLC boosted its stake in shares of Larimar Therapeutics by 20.8% during the 2nd quarter. Driehaus Capital Management LLC now owns 1,314,106 shares of the company’s stock worth $9,527,000 after acquiring an additional 225,879 shares in the last quarter. Millennium Management LLC grew 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 valued at $7,381,000 after acquiring an additional 235,865 shares during the period. Point72 Asset Management L.P. increased its stake in shares of Larimar Therapeutics by 37.7% in the 2nd quarter. Point72 Asset Management L.P. now owns 603,581 shares of the company’s stock valued at $4,376,000 after purchasing an additional 165,181 shares in the last quarter. Finally, Sphera Funds Management LTD. increased its stake in shares of Larimar Therapeutics by 32.6% in the 3rd quarter. Sphera Funds Management LTD. now owns 414,478 shares of the company’s stock valued at $2,715,000 after purchasing an additional 102,009 shares in the last quarter. 91.92% of the stock is owned by hedge funds and other institutional investors.

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.