Larimar Therapeutics (NASDAQ:LRMR) Given “Buy” Rating at HC Wainwright

Larimar Therapeutics (NASDAQ:LRMR)‘s stock had its “buy” rating reiterated by stock analysts at HC Wainwright in a research note issued to investors on Monday,Benzinga reports. They presently have a $15.00 target price on the stock. HC Wainwright’s target price suggests a potential upside of 134.74% from the stock’s current price.

Several other equities research analysts also recently weighed in on the stock. Baird R W upgraded shares of Larimar Therapeutics to a “strong-buy” rating in a research note on Wednesday, September 4th. Oppenheimer assumed coverage on shares of Larimar Therapeutics in a research note on Wednesday, October 16th. They set an “outperform” rating and a $26.00 target price for the company. Wedbush assumed coverage on shares of Larimar Therapeutics in a research note on Thursday, October 3rd. They set an “outperform” rating and a $22.00 target price on the stock. Finally, Robert W. Baird assumed coverage on Larimar Therapeutics in a research note on Wednesday, September 4th. They set an “outperform” rating and a $16.00 price target on the stock. Nine analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $20.43.

Larimar Therapeutics Stock Down 4.5 %

Shares of Larimar Therapeutics stock traded down $0.30 during trading hours on Monday, reaching $6.39. 471,748 shares of the stock traded hands, compared to its average volume of 581,772. Larimar Therapeutics has a one year low of $3.05 and a one year high of $13.68. The firm has a market capitalization of $407.75 million, a price-to-earnings ratio of -5.56 and a beta of 0.95. The company has a 50 day moving average price of $7.38 and a 200 day moving average price of $7.93.

Larimar Therapeutics (NASDAQ:LRMR) last posted its quarterly earnings results 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 period in the prior year, the firm earned ($0.21) EPS. Sell-side analysts anticipate that Larimar Therapeutics will post -1.16 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Quarry LP raised its holdings in shares of Larimar Therapeutics by 966.7% in the 2nd quarter. Quarry LP now owns 8,000 shares of the company’s stock worth $58,000 after purchasing an additional 7,250 shares in the last quarter. Quest Partners LLC lifted its position in shares of Larimar Therapeutics by 171.1% in the third quarter. Quest Partners LLC now owns 9,183 shares of the company’s stock worth $60,000 after buying an additional 5,796 shares during the last quarter. Intech Investment Management LLC bought a new stake in Larimar Therapeutics during the third quarter worth approximately $85,000. Thoroughbred Financial Services LLC acquired a new position in Larimar Therapeutics in the 2nd quarter valued at $94,000. Finally, SG Americas Securities LLC bought a new position in Larimar Therapeutics in the 3rd quarter worth approximately $94,000. 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.