HC Wainwright Issues Positive Forecast for Larimar Therapeutics (NASDAQ:LRMR) Stock Price

Larimar Therapeutics (NASDAQ:LRMR) had its price target boosted by equities research analysts at HC Wainwright from $15.00 to $16.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock.

Several other brokerages have also commented on LRMR. Truist Financial started coverage on shares of Larimar Therapeutics in a research report on Wednesday, January 29th. They set a “buy” rating and a $18.00 target price on the stock. Robert W. Baird decreased their price objective on shares of Larimar Therapeutics from $13.00 to $10.00 and set an “outperform” rating on the stock in a report on Tuesday. Ten equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Larimar Therapeutics has an average rating of “Buy” and a consensus target price of $19.50.

Larimar Therapeutics Stock Down 10.2 %

Shares of NASDAQ:LRMR opened at $2.28 on Tuesday. The company has a market cap of $145.48 million, a price-to-earnings ratio of -1.98 and a beta of 0.99. Larimar Therapeutics has a fifty-two week low of $2.25 and a fifty-two week high of $11.20. The firm’s 50-day simple moving average is $3.16 and its 200-day simple moving average is $5.24.

Larimar Therapeutics (NASDAQ:LRMR) last announced its quarterly earnings data on Monday, March 24th. The company reported ($0.45) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.16). On average, research analysts forecast that Larimar Therapeutics will post -1.15 EPS for the current year.

Institutional Investors Weigh In On Larimar Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. BNP Paribas Financial Markets acquired a new position in shares of Larimar Therapeutics in the fourth quarter worth $25,000. Algert Global LLC acquired a new stake in shares of Larimar Therapeutics during the fourth quarter valued at $47,000. China Universal Asset Management Co. Ltd. purchased a new stake in Larimar Therapeutics during the 4th quarter worth about $52,000. Graham Capital Management L.P. acquired a new position in Larimar Therapeutics in the 4th quarter valued at about $54,000. Finally, ProShare Advisors LLC purchased a new position in Larimar Therapeutics in the 4th quarter valued at about $58,000. 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.