Larimar Therapeutics (NASDAQ:LRMR) Now Covered by Wedbush

Research analysts at Wedbush began coverage on shares of Larimar Therapeutics (NASDAQ:LRMR) in a research report issued to clients and investors on Thursday, Marketbeat Ratings reports. The brokerage set an “outperform” rating and a $22.00 price target on the stock. Wedbush’s price objective indicates a potential upside of 230.83% from the stock’s current price. Wedbush also issued estimates for Larimar Therapeutics’ Q3 2024 earnings at ($0.37) EPS, Q4 2024 earnings at ($0.38) EPS and FY2024 earnings at ($1.37) EPS.

Several other equities analysts also recently weighed in on LRMR. HC Wainwright assumed coverage on Larimar Therapeutics in a research note on Wednesday. They issued a “buy” rating and a $15.00 price objective for the company. Robert W. Baird initiated coverage on Larimar Therapeutics in a research report on Wednesday, September 4th. They issued an “outperform” rating and a $16.00 price target for the company. Finally, Baird R W upgraded shares of Larimar Therapeutics to a “strong-buy” rating in a research report on Wednesday, September 4th. Eight investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $19.50.

Larimar Therapeutics Trading Up 2.0 %

Shares of LRMR stock opened at $6.65 on Thursday. The stock has a 50 day simple moving average of $7.52 and a 200-day simple moving average of $7.82. The company has a market cap of $424.34 million, a price-to-earnings ratio of -6.86 and a beta of 0.98. Larimar Therapeutics has a 12-month low of $2.18 and a 12-month high of $13.68.

Larimar Therapeutics (NASDAQ:LRMR) last released its 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, equities analysts forecast that Larimar Therapeutics will post -1.4 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Larimar Therapeutics

Institutional investors have recently added to or reduced their stakes in the business. Quarry LP lifted its holdings in shares of Larimar Therapeutics by 966.7% during the 2nd quarter. Quarry LP now owns 8,000 shares of the company’s stock worth $58,000 after acquiring an additional 7,250 shares during the period. Thoroughbred Financial Services LLC acquired a new position in shares of Larimar Therapeutics in the 2nd quarter valued at $94,000. SG Americas Securities LLC acquired a new stake in shares of Larimar Therapeutics during the 3rd quarter worth $94,000. EntryPoint Capital LLC purchased a new position in shares of Larimar Therapeutics in the 1st quarter worth $106,000. Finally, AQR Capital Management LLC purchased a new stake in Larimar Therapeutics during the second quarter valued at about $113,000. 91.92% of the stock is currently owned by institutional investors and hedge funds.

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.