HC Wainwright Increases Larimar Therapeutics (NASDAQ:LRMR) Price Target to $16.00

Larimar Therapeutics (NASDAQ:LRMR) had its price target increased by HC Wainwright from $15.00 to $16.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have a buy rating on the stock.

Other research analysts also recently issued reports about the stock. Robert W. Baird lowered their price objective on shares of Larimar Therapeutics from $13.00 to $10.00 and set an “outperform” rating on the stock in a research report on Tuesday. Truist Financial assumed coverage on shares of Larimar Therapeutics in a report on Wednesday, January 29th. They set a “buy” rating and a $18.00 price target on the stock. Eleven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $20.22.

Larimar Therapeutics Trading Up 1.3 %

Shares of LRMR stock opened at $2.31 on Tuesday. The company has a market capitalization of $147.39 million, a price-to-earnings ratio of -2.01 and a beta of 0.99. Larimar Therapeutics has a 1-year low of $2.22 and a 1-year high of $11.20. The stock’s fifty day simple moving average is $3.14 and its 200-day simple moving average is $5.20.

Larimar Therapeutics (NASDAQ:LRMR) last announced its quarterly earnings data on Monday, March 24th. The company reported ($0.45) EPS for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.16). On average, sell-side analysts predict that Larimar Therapeutics will post -1.15 EPS for the current year.

Hedge Funds Weigh In On Larimar Therapeutics

Several hedge funds have recently bought and sold shares of the business. Wellington Management Group LLP lifted its position in shares of Larimar Therapeutics by 10.3% in the fourth quarter. Wellington Management Group LLP now owns 116,067 shares of the company’s stock worth $449,000 after buying an additional 10,821 shares during the last quarter. Velan Capital Investment Management LP bought a new position in shares of Larimar Therapeutics in the 4th quarter valued at approximately $70,000. Sphera Funds Management LTD. lifted its holdings in Larimar Therapeutics by 9.9% in the 4th quarter. Sphera Funds Management LTD. now owns 455,604 shares of the company’s stock worth $1,763,000 after purchasing an additional 41,126 shares during the last quarter. ProShare Advisors LLC bought a new stake in Larimar Therapeutics during the fourth quarter worth approximately $58,000. Finally, Janus Henderson Group PLC grew its holdings in Larimar Therapeutics by 15.7% during the fourth quarter. Janus Henderson Group PLC now owns 6,443,286 shares of the company’s stock valued at $24,936,000 after purchasing an additional 876,431 shares during the last quarter. 91.92% of the stock is owned by institutional investors and hedge funds.

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.