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

HC Wainwright restated their buy rating on shares of Larimar Therapeutics (NASDAQ:LRMR - Free Report) in a research note published on Thursday, Benzinga reports. The brokerage currently has a $15.00 price objective on the stock.

LRMR has been the subject of several other research reports. Wedbush started coverage on shares of Larimar Therapeutics in a report on Thursday, October 3rd. They set an "outperform" rating and a $22.00 price objective for the company. Robert W. Baird initiated coverage on Larimar Therapeutics in a research report on Wednesday, September 4th. They issued an "outperform" rating and a $16.00 price objective for the company. Baird R W upgraded Larimar Therapeutics to a "strong-buy" rating in a report on Wednesday, September 4th. Finally, Oppenheimer started coverage on Larimar Therapeutics in a research note on Wednesday, October 16th. They issued an "outperform" rating and a $26.00 target price for the company. Nine research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Larimar Therapeutics currently has an average rating of "Buy" and a consensus target price of $20.43.

Larimar Therapeutics Price Performance

Shares of Larimar Therapeutics stock traded down $0.24 during midday trading on Thursday, hitting $8.23. The company had a trading volume of 533,870 shares, compared to its average volume of 567,334. The stock has a market cap of $524.81 million, a PE ratio of -7.34 and a beta of 0.98. Larimar Therapeutics has a 1-year low of $2.18 and a 1-year high of $13.68. The business's 50 day simple moving average is $7.34 and its two-hundred day simple moving average is $7.80.

Larimar Therapeutics (NASDAQ:LRMR - Get Free Report) last issued its earnings results on Wednesday, October 30th. The company reported ($0.24) earnings per share for the quarter, beating the consensus estimate of ($0.37) by $0.13. During the same quarter last year, the business earned ($0.21) EPS. On average, sell-side analysts expect that Larimar Therapeutics will post -1.38 EPS for the current fiscal year.

Institutional Investors Weigh In On Larimar Therapeutics

Several large investors have recently made changes to their positions in LRMR. Vanguard Group Inc. lifted its stake in 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 acquiring an additional 912,458 shares in the last quarter. Janus Henderson Group PLC lifted its position in shares of Larimar Therapeutics by 52.2% in the first quarter. Janus Henderson Group PLC now owns 4,020,965 shares of the company's stock worth $30,459,000 after purchasing an additional 1,379,900 shares in the last quarter. Driehaus Capital Management LLC boosted 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 purchasing an additional 225,879 shares during the last quarter. Point72 Asset Management L.P. grew its position 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 in the last quarter. Finally, Millennium Management LLC increased its stake in Larimar Therapeutics by 30.2% in the 2nd quarter. Millennium Management LLC now owns 1,018,135 shares of the company's stock valued at $7,381,000 after buying an additional 235,865 shares during the last quarter. 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.