Larimar Therapeutics (NASDAQ:LRMR) Earns “Buy” Rating from HC Wainwright

Larimar Therapeutics (NASDAQ:LRMR)‘s stock had its “buy” rating reissued by stock analysts at HC Wainwright in a research report issued on Monday,Benzinga reports. They currently have a $15.00 price target on the stock. HC Wainwright’s price target would indicate a potential upside of 135.11% from the stock’s previous close.

Several other equities research analysts also recently commented on the company. Oppenheimer began coverage on Larimar Therapeutics in a report on Wednesday, October 16th. They issued an “outperform” rating and a $26.00 price objective for the company. Baird R W upgraded Larimar Therapeutics to a “strong-buy” rating in a report on Wednesday, September 4th. Robert W. Baird began coverage on Larimar Therapeutics in a report on Wednesday, September 4th. They issued an “outperform” rating and a $16.00 price objective for the company. Finally, Wedbush began coverage on Larimar Therapeutics in a report on Thursday, October 3rd. They issued an “outperform” rating and a $22.00 price objective for the company. Ten research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $20.43.

Larimar Therapeutics Trading Up 3.6 %

LRMR opened at $6.38 on Monday. Larimar Therapeutics has a 12-month low of $3.05 and a 12-month high of $13.68. The stock has a fifty day simple moving average of $7.32 and a two-hundred day simple moving average of $7.91. The company has a market cap of $407.09 million, a price-to-earnings ratio of -5.55 and a beta of 0.95.

Larimar Therapeutics (NASDAQ:LRMR) last issued its quarterly earnings results on Wednesday, October 30th. The company reported ($0.24) earnings per share for the quarter, beating the consensus estimate of ($0.37) by $0.13. During the same period in the prior year, the company earned ($0.21) EPS. On average, analysts predict that Larimar Therapeutics will post -1.16 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. RA Capital Management L.P. purchased a new position in Larimar Therapeutics in the first quarter worth about $45,884,000. Janus Henderson Group PLC boosted its position in Larimar Therapeutics by 27.2% in the third quarter. Janus Henderson Group PLC now owns 5,566,855 shares of the company’s stock worth $36,379,000 after purchasing an additional 1,189,467 shares during the last quarter. Vanguard Group Inc. boosted its position in Larimar Therapeutics by 62.7% in the first quarter. Vanguard Group Inc. now owns 2,367,701 shares of the company’s stock worth $17,971,000 after purchasing an additional 912,458 shares during the last quarter. Driehaus Capital Management LLC lifted its position 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 valued at $9,527,000 after buying an additional 225,879 shares in the last quarter. Finally, Millennium Management LLC grew its stake 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. 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.