Larimar Therapeutics (NASDAQ:LRMR) Now Covered by HC Wainwright

Research analysts at HC Wainwright assumed coverage on shares of Larimar Therapeutics (NASDAQ:LRMR) in a research note issued to investors on Wednesday, Marketbeat.com reports. The brokerage set a “buy” rating and a $15.00 price target on the stock. HC Wainwright’s price target would suggest a potential upside of 139.23% from the company’s previous close.

A number of other equities analysts have also commented on LRMR. Robert W. Baird started coverage on shares of Larimar Therapeutics in a research report on Wednesday, September 4th. They issued an “outperform” rating and a $16.00 price target on the stock. Baird R W raised Larimar Therapeutics to a “strong-buy” rating in a report on Wednesday, September 4th. Seven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Larimar Therapeutics presently has a consensus rating of “Buy” and a consensus price target of $19.00.

Larimar Therapeutics Stock Down 4.3 %

NASDAQ:LRMR opened at $6.27 on Wednesday. Larimar Therapeutics has a 12-month low of $2.18 and a 12-month high of $13.68. The firm has a market capitalization of $400.09 million, a PE ratio of -6.46 and a beta of 0.99. The firm has a 50-day moving average price of $7.64 and a 200 day moving average price of $7.84.

Larimar Therapeutics (NASDAQ:LRMR) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.34) EPS for the quarter, missing the consensus estimate of ($0.32) by ($0.02). On average, research analysts expect that Larimar Therapeutics will post -1.4 EPS for the current year.

Institutional Trading of Larimar Therapeutics

A number of institutional investors have recently modified their holdings of LRMR. Vanguard Group Inc. raised its position in shares of Larimar Therapeutics by 62.7% in the first quarter. Vanguard Group Inc. now owns 2,367,701 shares of the company’s stock valued at $17,971,000 after purchasing an additional 912,458 shares during the period. Janus Henderson Group PLC grew its position in Larimar Therapeutics by 52.2% during the 1st quarter. Janus Henderson Group PLC now owns 4,020,965 shares of the company’s stock worth $30,459,000 after acquiring an additional 1,379,900 shares during the last quarter. Driehaus Capital Management LLC increased its holdings in 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 purchasing an additional 225,879 shares during the period. Thoroughbred Financial Services LLC bought a new position in shares of Larimar Therapeutics during the second quarter worth about $94,000. Finally, Virtu Financial LLC acquired a new position in shares of Larimar Therapeutics in the 1st quarter worth approximately $133,000. 91.92% of the stock is currently owned by 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.