HC Wainwright Begins Coverage on Larimar Therapeutics (NASDAQ:LRMR)

HC Wainwright began coverage on shares of Larimar Therapeutics (NASDAQ:LRMR) in a research note issued to investors on Wednesday, Marketbeat reports. The firm issued a buy rating and a $15.00 price objective on the stock. HC Wainwright also issued estimates for Larimar Therapeutics’ Q3 2024 earnings at ($0.37) EPS, Q4 2024 earnings at ($0.41) EPS, FY2024 earnings at ($1.40) EPS, FY2025 earnings at ($1.94) EPS and FY2026 earnings at ($2.15) EPS.

Several other analysts have also commented on LRMR. Baird R W raised Larimar Therapeutics to a strong-buy rating in a research note on Wednesday, September 4th. Robert W. Baird assumed coverage on shares of Larimar Therapeutics in a research note on Wednesday, September 4th. They issued an outperform rating and a $16.00 target price on the stock. Eight equities research 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 presently has a consensus rating of Buy and an average target price of $19.50.

Larimar Therapeutics Price Performance

Shares of Larimar Therapeutics stock opened at $6.65 on Wednesday. The company’s fifty day moving average price is $7.52 and its two-hundred day moving average price is $7.82. The firm has a market capitalization of $424.34 million, a PE ratio of -6.86 and a beta of 0.98. Larimar Therapeutics has a 52-week low of $2.18 and a 52-week high of $13.68.

Larimar Therapeutics (NASDAQ:LRMR) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by ($0.02). Analysts predict that Larimar Therapeutics will post -1.4 earnings per share for the current fiscal year.

Institutional Trading of Larimar Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Quarry LP lifted its position in Larimar Therapeutics by 966.7% during the 2nd quarter. Quarry LP now owns 8,000 shares of the company’s stock worth $58,000 after buying an additional 7,250 shares in the last quarter. Thoroughbred Financial Services LLC acquired a new position in shares of Larimar Therapeutics during the second quarter worth approximately $94,000. SG Americas Securities LLC bought a new stake in shares of Larimar Therapeutics during the third quarter valued at approximately $94,000. EntryPoint Capital LLC acquired a new stake in shares of Larimar Therapeutics in the first quarter valued at approximately $106,000. Finally, AQR Capital Management LLC bought a new position in Larimar Therapeutics in the 2nd quarter worth approximately $113,000. 91.92% of the stock is currently owned by institutional investors and hedge funds.

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.