Oppenheimer Initiates Coverage on Larimar Therapeutics (NASDAQ:LRMR)

Equities researchers at Oppenheimer started coverage on shares of Larimar Therapeutics (NASDAQ:LRMR) in a research note issued on Wednesday, Marketbeat reports. The brokerage set an “outperform” rating and a $26.00 price target on the stock. Oppenheimer’s price objective suggests a potential upside of 231.21% from the stock’s previous close.

LRMR has been the topic of a number of other research reports. HC Wainwright assumed coverage on shares of Larimar Therapeutics in a report on Wednesday, October 2nd. They issued a “buy” rating and a $15.00 price objective on the stock. Robert W. Baird assumed coverage on Larimar Therapeutics in a research report on Wednesday, September 4th. They set an “outperform” rating and a $16.00 price objective for the company. Wedbush initiated coverage on Larimar Therapeutics in a research note on Thursday, October 3rd. They set an “outperform” rating and a $22.00 price objective for the company. Finally, Baird R W raised Larimar Therapeutics to a “strong-buy” rating in a research note on Wednesday, September 4th. Nine investment 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, the company currently has an average rating of “Buy” and a consensus price target of $20.43.

Larimar Therapeutics Stock Up 1.8 %

NASDAQ LRMR opened at $7.85 on Wednesday. The firm has a market capitalization of $500.91 million, a PE ratio of -7.01 and a beta of 0.98. The stock’s 50 day moving average is $7.31 and its 200 day moving average is $7.76. Larimar Therapeutics has a twelve month low of $2.18 and a twelve month high of $13.68.

Larimar Therapeutics (NASDAQ:LRMR) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.34) EPS for the quarter, missing the consensus estimate of ($0.32) by ($0.02). On average, research analysts anticipate that Larimar Therapeutics will post -1.39 earnings per share for the current year.

Institutional Investors Weigh In On Larimar Therapeutics

Large investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in shares of Larimar Therapeutics by 62.7% during the 1st quarter. Vanguard Group Inc. now owns 2,367,701 shares of the company’s stock valued at $17,971,000 after acquiring an additional 912,458 shares during the last quarter. EntryPoint Capital LLC purchased a new position in shares of Larimar Therapeutics in the 1st quarter worth $106,000. Janus Henderson Group PLC grew 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 acquiring an additional 1,379,900 shares during the period. RA Capital Management L.P. purchased a new stake in Larimar Therapeutics during the first quarter valued at $45,884,000. Finally, Virtu Financial LLC bought a new position in Larimar Therapeutics in the first quarter valued at about $133,000. 91.92% of the stock is currently owned by institutional investors.

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.