Larimar Therapeutics (NASDAQ:LRMR) Earns Buy Rating from Analysts at Truist Financial

Truist Financial assumed coverage on shares of Larimar Therapeutics (NASDAQ:LRMR) in a research report report published on Wednesday, Marketbeat Ratings reports. The firm issued a buy rating and a $18.00 price target on the stock.

Other equities analysts have also issued reports about the company. William Blair reissued an “outperform” rating on shares of Larimar Therapeutics in a report on Tuesday, November 19th. Wedbush assumed coverage on Larimar Therapeutics in a research note on Thursday, October 3rd. They issued an “outperform” rating and a $22.00 price target for the company. Oppenheimer started coverage on shares of Larimar Therapeutics in a research note on Wednesday, October 16th. They set an “outperform” rating and a $26.00 price objective on the stock. Finally, HC Wainwright reiterated a “buy” rating and issued a $15.00 target price on shares of Larimar Therapeutics in a research report on Friday, January 24th. Eleven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $20.13.

Larimar Therapeutics Stock Performance

Larimar Therapeutics stock opened at $3.71 on Wednesday. Larimar Therapeutics has a one year low of $3.01 and a one year high of $13.68. The company has a 50-day simple moving average of $4.69 and a 200-day simple moving average of $6.69.

Larimar Therapeutics (NASDAQ:LRMR) last posted 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 in the prior year, the firm posted ($0.21) earnings per share. On average, 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

Several hedge funds have recently made changes to their positions in LRMR. Squarepoint Ops LLC lifted its stake in Larimar Therapeutics by 174.6% during the second quarter. Squarepoint Ops LLC now owns 29,858 shares of the company’s stock valued at $216,000 after purchasing an additional 69,858 shares during the last quarter. AQR Capital Management LLC bought a new position in shares of Larimar Therapeutics in the second quarter valued at $113,000. Millennium Management LLC lifted 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 last quarter. The Manufacturers Life Insurance Company bought a new stake in shares of Larimar Therapeutics during the 2nd quarter worth $120,000. Finally, Quarry LP grew its holdings in shares of Larimar Therapeutics by 966.7% in the 2nd quarter. Quarry LP now owns 8,000 shares of the company’s stock worth $58,000 after acquiring an additional 7,250 shares during the last quarter. Institutional investors and hedge funds 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.