HC Wainwright Reiterates Buy Rating for Larimar Therapeutics (NASDAQ:LRMR)

HC Wainwright reiterated their buy rating on shares of Larimar Therapeutics (NASDAQ:LRMR) in a research note released on Monday,Benzinga reports. They currently have a $15.00 price objective on the stock.

LRMR has been the subject of a number of other reports. Oppenheimer began coverage on Larimar Therapeutics in a research report on Wednesday, October 16th. They issued an “outperform” rating and a $26.00 price target for the company. Wedbush initiated coverage on shares of Larimar Therapeutics in a research report on Thursday, October 3rd. They set an “outperform” rating and a $22.00 price target on the stock. Robert W. Baird began coverage on shares of Larimar Therapeutics in a report on Wednesday, September 4th. They set an “outperform” rating and a $16.00 price target on the stock. Finally, Baird R W upgraded shares of Larimar Therapeutics to a “strong-buy” rating in a research note on Wednesday, September 4th. Nine equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $20.43.

Larimar Therapeutics Stock Down 7.9 %

Larimar Therapeutics stock opened at $6.16 on Monday. The firm’s fifty day moving average price is $7.35 and its two-hundred day moving average price is $7.92. Larimar Therapeutics has a 1-year low of $3.05 and a 1-year high of $13.68.

Larimar Therapeutics (NASDAQ:LRMR) last released its quarterly earnings results 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 company posted ($0.21) EPS. Analysts anticipate that Larimar Therapeutics will post -1.16 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Larimar Therapeutics

A number of hedge funds have recently modified their holdings of LRMR. Quarry LP increased its position in Larimar Therapeutics by 966.7% in the second quarter. Quarry LP now owns 8,000 shares of the company’s stock worth $58,000 after buying an additional 7,250 shares during the last quarter. Quest Partners LLC increased its holdings in Larimar Therapeutics by 171.1% in the 3rd quarter. Quest Partners LLC now owns 9,183 shares of the company’s stock worth $60,000 after acquiring an additional 5,796 shares during the last quarter. Intech Investment Management LLC bought a new stake in Larimar Therapeutics in the 3rd quarter valued at about $85,000. Thoroughbred Financial Services LLC purchased a new stake in Larimar Therapeutics during the second quarter valued at about $94,000. Finally, EntryPoint Capital LLC bought a new position in Larimar Therapeutics during the first quarter worth about $106,000. 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.