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

Larimar Therapeutics (NASDAQ:LRMR)‘s stock had its “buy” rating reaffirmed by analysts at HC Wainwright in a research report issued to clients and investors on Friday,Benzinga reports. They currently have a $15.00 price target on the stock. HC Wainwright’s target price would indicate a potential upside of 313.22% from the company’s current price.

A number of other research firms have also recently issued reports on LRMR. William Blair reaffirmed an “outperform” rating on shares of Larimar Therapeutics in a research report on Tuesday, November 19th. Wedbush assumed coverage on Larimar Therapeutics in a report on Thursday, October 3rd. They set an “outperform” rating and a $22.00 price target for the company. Finally, Oppenheimer assumed coverage on Larimar Therapeutics in a report on Wednesday, October 16th. They set an “outperform” rating and a $26.00 price target for the company. Ten analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $20.43.

Larimar Therapeutics Stock Up 4.9 %

LRMR stock opened at $3.63 on Friday. The business has a 50 day moving average price of $4.86 and a two-hundred day moving average price of $6.85. The company has a market cap of $231.63 million, a price-to-earnings ratio of -3.16 and a beta of 0.91. Larimar Therapeutics has a twelve month low of $3.01 and a twelve month high of $13.68.

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

Institutional Trading of Larimar Therapeutics

A number of institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. lifted its position in shares of Larimar Therapeutics by 18.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 21,771 shares of the company’s stock valued at $143,000 after acquiring an additional 3,425 shares during the period. Franklin Resources Inc. lifted its position 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 valued at $143,000 after acquiring an additional 3,549 shares during the period. Quarry LP lifted its position in shares of Larimar Therapeutics by 50.0% during the 3rd 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. SG Americas Securities LLC lifted its position in shares of Larimar Therapeutics by 35.1% during the 4th quarter. SG Americas Securities LLC now owns 19,391 shares of the company’s stock valued at $75,000 after acquiring an additional 5,042 shares during the period. Finally, Quest Partners LLC lifted 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 acquiring an additional 5,796 shares during the period. 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.