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

Investment analysts at HC Wainwright initiated coverage on shares of Larimar Therapeutics (NASDAQ:LRMR) in a 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 130.06% from the company’s current price.

A number of other equities analysts also recently weighed in on the company. Robert W. Baird initiated coverage on Larimar Therapeutics in a research report on Wednesday, September 4th. They set an “outperform” rating and a $16.00 price target for the company. Baird R W upgraded shares of Larimar Therapeutics to a “strong-buy” rating in a report on Wednesday, September 4th. Eight analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $19.50.

Larimar Therapeutics Stock Up 3.7 %

LRMR opened at $6.52 on Wednesday. Larimar Therapeutics has a 12 month low of $2.18 and a 12 month high of $13.68. The firm’s fifty day simple moving average is $7.52 and its 200 day simple moving average is $7.82.

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

Hedge Funds Weigh In On Larimar Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in LRMR. Quarry LP lifted its stake in Larimar Therapeutics by 966.7% in the second quarter. Quarry LP now owns 8,000 shares of the company’s stock valued at $58,000 after acquiring an additional 7,250 shares during the last quarter. Thoroughbred Financial Services LLC acquired a new stake in Larimar Therapeutics in the 2nd quarter valued at about $94,000. SG Americas Securities LLC bought a new position in Larimar Therapeutics during the third quarter worth about $94,000. EntryPoint Capital LLC acquired a new position in Larimar Therapeutics during the first quarter worth approximately $106,000. Finally, AQR Capital Management LLC bought a new stake in Larimar Therapeutics in the second quarter valued at approximately $113,000. 91.92% of the stock is 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.