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

Larimar Therapeutics (NASDAQ:LRMR - Get Free Report)'s stock had its "buy" rating reiterated by investment analysts at HC Wainwright in a research note issued on Monday,Benzinga reports. They currently have a $15.00 price objective on the stock. HC Wainwright's target price points to a potential upside of 143.51% from the stock's current price.

A number of other brokerages have also issued reports on LRMR. Robert W. Baird started coverage on 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 research report on Wednesday, September 4th. Wedbush initiated coverage on Larimar Therapeutics in a report on Thursday, October 3rd. They issued an "outperform" rating and a $22.00 target price on the stock. Finally, Oppenheimer began coverage on shares of Larimar Therapeutics in a research report on Wednesday, October 16th. They set an "outperform" rating and a $26.00 price objective on the stock. Nine analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $20.43.

Larimar Therapeutics Price Performance

NASDAQ:LRMR traded down $0.53 during mid-day trading on Monday, reaching $6.16. The company's stock had a trading volume of 1,118,746 shares, compared to its average volume of 584,673. Larimar Therapeutics has a twelve month low of $3.05 and a twelve month high of $13.68. The company's fifty day simple moving average is $7.35 and its two-hundred day simple moving average is $7.92. The stock has a market cap of $393.07 million, a P/E ratio of -5.36 and a beta of 0.95.

Larimar Therapeutics (NASDAQ:LRMR - Get Free Report) last announced its earnings results on Wednesday, October 30th. The company reported ($0.24) EPS for the quarter, beating the consensus estimate of ($0.37) by $0.13. During the same period in the previous year, the company earned ($0.21) EPS. Sell-side analysts expect that Larimar Therapeutics will post -1.16 EPS for the current fiscal year.

Hedge Funds Weigh In On Larimar Therapeutics

Hedge funds have recently modified their holdings of the stock. RA Capital Management L.P. bought a new stake in Larimar Therapeutics during the 1st quarter worth about $45,884,000. Janus Henderson Group PLC grew its holdings in shares of Larimar Therapeutics by 27.2% in the 3rd quarter. Janus Henderson Group PLC now owns 5,566,855 shares of the company's stock valued at $36,379,000 after buying an additional 1,189,467 shares during the period. Vanguard Group Inc. increased its position in shares of Larimar Therapeutics by 62.7% in the 1st quarter. Vanguard Group Inc. now owns 2,367,701 shares of the company's stock valued at $17,971,000 after buying an additional 912,458 shares in the last quarter. Driehaus Capital Management LLC lifted its holdings in Larimar Therapeutics by 20.8% during the second quarter. Driehaus Capital Management LLC now owns 1,314,106 shares of the company's stock worth $9,527,000 after acquiring an additional 225,879 shares in the last quarter. Finally, Millennium Management LLC raised its position in shares of Larimar Therapeutics by 30.2% during the second quarter. Millennium Management LLC now owns 1,018,135 shares of the company's stock worth $7,381,000 after purchasing an additional 235,865 shares during the period. 91.92% of the stock is 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.