Truist Financial Begins Coverage on Larimar Therapeutics (NASDAQ:LRMR)

Truist Financial began coverage on shares of Larimar Therapeutics (NASDAQ:LRMR) in a research report sent to investors on Wednesday morning, MarketBeat reports. The firm issued a buy rating and a $18.00 target price on the stock.

A number of other equities analysts have also recently commented on the company. HC Wainwright reissued a “buy” rating and set a $15.00 target price on shares of Larimar Therapeutics in a report on Friday, January 24th. Wedbush began coverage on Larimar Therapeutics in a report on Thursday, October 3rd. They issued an “outperform” rating and a $22.00 price objective on the stock. William Blair reaffirmed an “outperform” rating on shares of Larimar Therapeutics in a report on Tuesday, November 19th. Finally, Oppenheimer assumed coverage on shares of Larimar Therapeutics in a research note on Wednesday, October 16th. They issued an “outperform” rating and a $26.00 price target on the stock. Eleven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Larimar Therapeutics has an average rating of “Buy” and an average price target of $20.13.

Larimar Therapeutics Stock Performance

NASDAQ:LRMR opened at $3.84 on Wednesday. Larimar Therapeutics has a fifty-two week low of $3.01 and a fifty-two week high of $13.68. The company has a fifty day moving average of $4.60 and a two-hundred day moving average of $6.65.

Larimar Therapeutics (NASDAQ:LRMR) last released its quarterly earnings results on Wednesday, October 30th. The company reported ($0.24) earnings per share for the quarter, topping the consensus estimate of ($0.37) by $0.13. During the same quarter last year, the company posted ($0.21) EPS. As a group, sell-side analysts anticipate that Larimar Therapeutics will post -1.15 earnings per share for the current year.

Institutional Trading of Larimar Therapeutics

Several hedge funds have recently made changes to their positions in LRMR. Janus Henderson Group PLC lifted its holdings in Larimar Therapeutics by 27.2% in the third quarter. Janus Henderson Group PLC now owns 5,566,855 shares of the company’s stock valued at $36,379,000 after acquiring an additional 1,189,467 shares during the last quarter. Millennium Management LLC raised its position in Larimar Therapeutics by 30.2% in the second quarter. Millennium Management LLC now owns 1,018,135 shares of the company’s stock valued at $7,381,000 after purchasing an additional 235,865 shares during the period. Point72 Asset Management L.P. lifted its stake in shares of Larimar Therapeutics by 37.7% in the 2nd quarter. Point72 Asset Management L.P. now owns 603,581 shares of the company’s stock valued at $4,376,000 after purchasing an additional 165,181 shares during the last quarter. Sphera Funds Management LTD. grew its holdings in shares of Larimar Therapeutics by 32.6% during the 3rd quarter. Sphera Funds Management LTD. now owns 414,478 shares of the company’s stock worth $2,715,000 after purchasing an additional 102,009 shares during the period. Finally, Squarepoint Ops LLC increased its position in shares of Larimar Therapeutics by 174.6% during the 2nd quarter. Squarepoint Ops LLC now owns 29,858 shares of the company’s stock worth $216,000 after purchasing an additional 69,858 shares during the last quarter. Hedge funds and other institutional investors own 91.92% of the company’s stock.

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.