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

HC Wainwright reiterated their buy rating on shares of Larimar Therapeutics (NASDAQ:LRMR) in a research report report published on Friday morning,Benzinga reports. HC Wainwright currently has a $15.00 price target on the stock.

LRMR has been the subject of several other research reports. Oppenheimer initiated coverage on Larimar Therapeutics in a research note on Wednesday, October 16th. They issued an “outperform” rating and a $26.00 price objective for the company. Wedbush initiated coverage on shares of Larimar Therapeutics in a research note on Thursday, October 3rd. They issued an “outperform” rating and a $22.00 price objective on the stock. Finally, William Blair reaffirmed an “outperform” rating on shares of Larimar Therapeutics in a research report on Tuesday, November 19th. Ten analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $20.43.

Larimar Therapeutics Stock Down 1.4 %

LRMR opened at $3.58 on Friday. The firm’s fifty day simple moving average is $4.86 and its 200 day simple moving average is $6.85. Larimar Therapeutics has a 12 month low of $3.01 and a 12 month high of $13.68.

Larimar Therapeutics (NASDAQ:LRMR) last issued its quarterly earnings results on Wednesday, October 30th. The company reported ($0.24) EPS for the quarter, topping the consensus estimate of ($0.37) by $0.13. During the same quarter in the prior year, the firm earned ($0.21) EPS. On average, research analysts predict that Larimar Therapeutics will post -1.16 earnings per share for the current year.

Institutional Trading of Larimar Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. China Universal Asset Management Co. Ltd. purchased a new stake in shares of Larimar Therapeutics in the 4th quarter valued at $52,000. SG Americas Securities LLC boosted its position in shares of Larimar Therapeutics by 35.1% in the fourth quarter. SG Americas Securities LLC now owns 19,391 shares of the company’s stock worth $75,000 after purchasing an additional 5,042 shares during the period. JPMorgan Chase & Co. grew its holdings in Larimar Therapeutics by 18.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 21,771 shares of the company’s stock valued at $143,000 after buying an additional 3,425 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of Larimar Therapeutics by 21.9% in the 3rd quarter. Franklin Resources Inc. now owns 19,723 shares of the company’s stock worth $143,000 after buying an additional 3,549 shares in the last quarter. Finally, Virtu Financial LLC bought a new stake in Larimar Therapeutics during the third quarter worth approximately $71,000. 91.92% of the stock is currently owned by institutional investors.

About Larimar Therapeutics

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.