Larimar Therapeutics (NASDAQ:LRMR) Earns Buy Rating from Analysts at HC Wainwright

Stock analysts at HC Wainwright assumed coverage on shares of Larimar Therapeutics (NASDAQ:LRMR) in a research note issued to investors on Wednesday, Marketbeat Ratings reports. The brokerage set a “buy” rating and a $15.00 price target on the stock. HC Wainwright’s price target suggests a potential upside of 139.23% from the stock’s current price.

Several other equities research analysts have also recently issued reports on the stock. Baird R W raised shares of Larimar Therapeutics to a “strong-buy” rating in a research report on Wednesday, September 4th. Robert W. Baird initiated coverage on shares of Larimar Therapeutics in a research report on Wednesday, September 4th. They set an “outperform” rating and a $16.00 price target on the stock. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $19.00.

Larimar Therapeutics Stock Down 4.3 %

NASDAQ:LRMR opened at $6.27 on Wednesday. Larimar Therapeutics has a twelve month low of $2.18 and a twelve month high of $13.68. The business’s 50-day moving average price is $7.64 and its two-hundred day moving average price is $7.84. The stock has a market cap of $400.09 million, a P/E ratio of -6.46 and a beta of 0.99.

Larimar Therapeutics (NASDAQ:LRMR) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.02). On average, equities research analysts expect that Larimar Therapeutics will post -1.4 EPS for the current fiscal year.

Hedge Funds Weigh In On Larimar Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in shares of Larimar Therapeutics by 62.7% during the first quarter. Vanguard Group Inc. now owns 2,367,701 shares of the company’s stock valued at $17,971,000 after purchasing an additional 912,458 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in shares of Larimar Therapeutics by 52.2% in the first quarter. Janus Henderson Group PLC now owns 4,020,965 shares of the company’s stock worth $30,459,000 after buying an additional 1,379,900 shares during the period. Driehaus Capital Management LLC grew its holdings in shares of Larimar Therapeutics by 20.8% during the second 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. Thoroughbred Financial Services LLC purchased a new position in Larimar Therapeutics during the second quarter valued at approximately $94,000. Finally, Virtu Financial LLC acquired a new stake in shares of Larimar Therapeutics during the 1st quarter valued at about $133,000. 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.