Larimar Therapeutics' (LRMR) Buy Rating Reaffirmed at HC Wainwright

Larimar Therapeutics (NASDAQ:LRMR - Get Free Report)'s stock had its "buy" rating reissued by equities researchers at HC Wainwright in a research report issued to clients and investors on Monday,Benzinga reports. They presently have a $15.00 price objective on the stock. HC Wainwright's target price indicates a potential upside of 210.56% from the stock's previous close.

Other equities research analysts have also issued research reports about the stock. Robert W. Baird started coverage on shares of Larimar Therapeutics in a report on Wednesday, September 4th. They issued an "outperform" rating and a $16.00 price objective for the company. Baird R W upgraded shares of Larimar Therapeutics to a "strong-buy" rating in a report on Wednesday, September 4th. Oppenheimer assumed coverage on Larimar Therapeutics in a report on Wednesday, October 16th. They issued an "outperform" rating and a $26.00 price objective on the stock. Wedbush started coverage on Larimar Therapeutics in a research note on Thursday, October 3rd. They set an "outperform" rating and a $22.00 target price for the company. Finally, William Blair restated an "outperform" rating on shares of Larimar Therapeutics in a research report on Tuesday, November 19th. Ten investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Buy" and an average price target of $20.43.

Larimar Therapeutics Stock Performance

Shares of NASDAQ LRMR traded down $1.34 during mid-day trading on Monday, reaching $4.83. The company's stock had a trading volume of 6,037,751 shares, compared to its average volume of 613,139. The stock has a 50-day moving average of $7.17 and a two-hundred day moving average of $7.75. The stock has a market capitalization of $308.20 million, a P/E ratio of -3.56 and a beta of 0.86. Larimar Therapeutics has a 1-year low of $3.01 and a 1-year high of $13.68.

Larimar Therapeutics (NASDAQ:LRMR - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The company reported ($0.24) EPS for the quarter, beating analysts' consensus estimates of ($0.37) by $0.13. During the same quarter last year, the company posted ($0.21) earnings per share. Analysts predict that Larimar Therapeutics will post -1.16 EPS for the current fiscal year.

Hedge Funds Weigh In On Larimar Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of LRMR. Janus Henderson Group PLC lifted its holdings in Larimar Therapeutics by 27.2% during the 3rd quarter. Janus Henderson Group PLC now owns 5,566,855 shares of the company's stock worth $36,379,000 after buying an additional 1,189,467 shares in the last quarter. Driehaus Capital Management LLC raised its stake in shares of Larimar Therapeutics by 20.8% in the second quarter. Driehaus Capital Management LLC now owns 1,314,106 shares of the company's stock valued at $9,527,000 after acquiring an additional 225,879 shares in the last quarter. Millennium Management LLC raised its stake in shares of Larimar Therapeutics by 30.2% in the second quarter. Millennium Management LLC now owns 1,018,135 shares of the company's stock valued at $7,381,000 after acquiring an additional 235,865 shares in the last quarter. Point72 Asset Management L.P. boosted its holdings in Larimar Therapeutics by 37.7% in the second quarter. Point72 Asset Management L.P. now owns 603,581 shares of the company's stock valued at $4,376,000 after purchasing an additional 165,181 shares during the period. Finally, Sphera Funds Management LTD. grew its stake in Larimar Therapeutics by 32.6% during the 3rd quarter. Sphera Funds Management LTD. now owns 414,478 shares of the company's stock worth $2,715,000 after purchasing an additional 102,009 shares in the last quarter. 91.92% of the stock is currently owned by hedge funds and other 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.