Larimar Therapeutics (NASDAQ:LRMR) Earns Buy Rating from HC Wainwright

Larimar Therapeutics (NASDAQ:LRMR)‘s stock had its “buy” rating reissued by research analysts at HC Wainwright in a report released on Thursday,Benzinga reports. They presently have a $10.00 target price on the stock. HC Wainwright’s target price would suggest a potential upside of 211.53% from the company’s previous close.

A number of other research firms also recently issued reports on LRMR. Wedbush cut their price target on Larimar Therapeutics from $13.00 to $12.00 and set an “outperform” rating for the company in a research note on Monday, May 18th. Citigroup restated a “buy” rating on shares of Larimar Therapeutics in a research report on Tuesday. Robert W. Baird reduced their target price on shares of Larimar Therapeutics from $7.00 to $5.00 and set an “outperform” rating for the company in a report on Tuesday. Wall Street Zen upgraded shares of Larimar Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 16th. Finally, JPMorgan Chase & Co. initiated coverage on shares of Larimar Therapeutics in a research note on Wednesday, May 27th. They set an “overweight” rating and a $9.00 price target on the stock. Three analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Larimar Therapeutics presently has an average rating of “Buy” and a consensus target price of $12.71.

Larimar Therapeutics Price Performance

LRMR stock opened at $3.21 on Thursday. The company has a market cap of $333.45 million, a P/E ratio of -1.56 and a beta of 0.84. Larimar Therapeutics has a 1 year low of $2.71 and a 1 year high of $6.42. The stock’s fifty day moving average price is $3.70 and its 200-day moving average price is $3.95.

Larimar Therapeutics (NASDAQ:LRMR) last issued its quarterly earnings data on Thursday, May 14th. The company reported ($0.31) EPS for the quarter, topping the consensus estimate of ($0.53) by $0.22. As a group, analysts expect that Larimar Therapeutics will post -1.66 earnings per share for the current year.

Institutional Trading of Larimar Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the company. BNP Paribas Financial Markets raised its position in shares of Larimar Therapeutics by 75.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 10,146 shares of the company’s stock valued at $33,000 after purchasing an additional 4,376 shares during the period. Coldstream Capital Management Inc. purchased a new stake in Larimar Therapeutics in the 3rd quarter worth $57,000. SG Americas Securities LLC purchased a new stake in Larimar Therapeutics in the 4th quarter worth $60,000. Sei Investments Co. raised its holdings in Larimar Therapeutics by 54.5% during the first quarter. Sei Investments Co. now owns 16,336 shares of the company’s stock valued at $74,000 after acquiring an additional 5,763 shares during the period. Finally, Commonwealth Equity Services LLC bought a new stake in Larimar Therapeutics during the fourth quarter valued at about $87,000. 91.92% of the stock is 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. Larimar Therapeutics, Inc is based in Bala Cynwyd, Pennsylvania.