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

Larimar Therapeutics (NASDAQ:LRMR)‘s stock had its “buy” rating reissued by stock analysts at HC Wainwright in a research note issued to investors on Monday,Benzinga reports. They currently have a $15.00 price target on the stock. HC Wainwright’s price target indicates a potential upside of 134.74% from the stock’s current price.

A number of other equities research analysts have also weighed in on the company. Wedbush initiated coverage on Larimar Therapeutics in a research report on Thursday, October 3rd. They set an “outperform” rating and a $22.00 price objective on the stock. Baird R W raised Larimar Therapeutics to a “strong-buy” rating in a research note on Wednesday, September 4th. Robert W. Baird began coverage on Larimar Therapeutics in a report on Wednesday, September 4th. They set an “outperform” rating and a $16.00 price objective for the company. Finally, Oppenheimer began coverage on shares of Larimar Therapeutics in a report on Wednesday, October 16th. They set an “outperform” rating and a $26.00 price target on the stock. Nine research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $20.43.

Larimar Therapeutics Trading Down 4.5 %

Shares of NASDAQ:LRMR traded down $0.30 during mid-day trading on Monday, reaching $6.39. The stock had a trading volume of 471,748 shares, compared to its average volume of 581,772. Larimar Therapeutics has a twelve month low of $3.05 and a twelve month high of $13.68. The firm has a market cap of $407.75 million, a PE ratio of -5.56 and a beta of 0.95. The firm has a 50 day simple moving average of $7.38 and a two-hundred day simple moving average of $7.93.

Larimar Therapeutics (NASDAQ:LRMR) last posted its earnings results on Wednesday, October 30th. The company reported ($0.24) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.13. During the same period last year, the business earned ($0.21) EPS. On average, equities analysts anticipate that Larimar Therapeutics will post -1.16 EPS for the current fiscal year.

Institutional Investors Weigh In On Larimar Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Quarry LP increased its stake in 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 buying an additional 7,250 shares in the last quarter. Quest Partners LLC raised 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 buying an additional 5,796 shares in the last quarter. Intech Investment Management LLC bought a new stake in shares of Larimar Therapeutics in the 3rd quarter valued at approximately $85,000. Thoroughbred Financial Services LLC purchased a new position in Larimar Therapeutics during the second quarter worth $94,000. Finally, EntryPoint Capital LLC bought a new position in Larimar Therapeutics during the 1st quarter valued at about $106,000. Hedge funds and other 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.