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

Larimar Therapeutics (NASDAQ:LRMR)‘s stock had its “buy” rating reiterated by 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 would indicate a potential upside of 266.75% from the stock’s current price.

Other equities research analysts have also recently issued reports about the company. Baird R W raised Larimar Therapeutics to a “strong-buy” rating in a research note on Wednesday, September 4th. Wedbush began coverage on shares of Larimar Therapeutics in a research note on Thursday, October 3rd. They set an “outperform” rating and a $22.00 price target on the stock. William Blair reissued an “outperform” rating on shares of Larimar Therapeutics in a research report on Tuesday, November 19th. Robert W. Baird initiated coverage on shares of Larimar Therapeutics in a report on Wednesday, September 4th. They issued 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 target price on the stock. Ten analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Larimar Therapeutics currently has an average rating of “Buy” and a consensus target price of $20.43.

Larimar Therapeutics Trading Down 33.7 %

Larimar Therapeutics stock traded down $2.08 during mid-day trading on Monday, hitting $4.09. The company’s stock had a trading volume of 3,819,561 shares, compared to its average volume of 602,948. Larimar Therapeutics has a 1 year low of $3.01 and a 1 year high of $13.68. The firm has a market capitalization of $260.98 million, a PE ratio of -3.56 and a beta of 0.86. The stock’s fifty day moving average is $7.17 and its two-hundred day moving average is $7.75.

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

Institutional Trading of Larimar Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the business. Franklin Resources Inc. raised its stake in shares of Larimar Therapeutics by 21.9% during the 3rd quarter. Franklin Resources Inc. now owns 19,723 shares of the company’s stock worth $143,000 after buying an additional 3,549 shares in the last quarter. Quarry LP lifted its holdings in Larimar Therapeutics by 50.0% in the third quarter. Quarry LP now owns 12,000 shares of the company’s stock valued at $79,000 after acquiring an additional 4,000 shares during the period. Quest Partners LLC boosted 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 worth $60,000 after purchasing an additional 5,796 shares in the last quarter. Virtu Financial LLC purchased a new position in shares of Larimar Therapeutics in the 3rd quarter valued at about $71,000. Finally, Intech Investment Management LLC purchased a new stake in Larimar Therapeutics during the third quarter worth about $85,000. 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.