Larimar Therapeutics (NASDAQ:LRMR) Stock Rating Upgraded by Leerink Partnrs

Larimar Therapeutics (NASDAQ:LRMR) was upgraded by research analysts at Leerink Partnrs to a “strong-buy” rating in a report released on Monday,Zacks.com reports.

Other equities research analysts have also recently issued research reports about the stock. Robert W. Baird lowered their price target on shares of Larimar Therapeutics from $10.00 to $7.00 and set an “outperform” rating on the stock in a report on Tuesday, September 30th. Oppenheimer dropped their target price on Larimar Therapeutics from $26.00 to $21.00 and set an “outperform” rating for the company in a report on Thursday, October 2nd. Wedbush cut their target price on shares of Larimar Therapeutics from $15.00 to $11.00 and set an “outperform” rating on the stock in a report on Tuesday, September 30th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Larimar Therapeutics in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $16.71.

Larimar Therapeutics Stock Performance

Shares of NASDAQ LRMR opened at $3.51 on Monday. The stock has a market cap of $290.14 million, a P/E ratio of -1.80 and a beta of 1.06. Larimar Therapeutics has a 52-week low of $1.61 and a 52-week high of $5.37. The firm has a 50 day moving average price of $3.67 and a 200 day moving average price of $3.76.

Larimar Therapeutics (NASDAQ:LRMR) last posted its quarterly earnings results on Wednesday, November 5th. The company reported ($0.61) EPS for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.22). Analysts predict that Larimar Therapeutics will post -1.15 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Larimar Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cantor Fitzgerald L. P. acquired a new position in Larimar Therapeutics in the third quarter valued at approximately $412,000. Coldstream Capital Management Inc. purchased a new position in Larimar Therapeutics in the third quarter worth approximately $57,000. Woodline Partners LP lifted its holdings in shares of Larimar Therapeutics by 160.6% in the 3rd quarter. Woodline Partners LP now owns 1,622,850 shares of the company’s stock worth $5,242,000 after acquiring an additional 1,000,168 shares during the last quarter. Alliancebernstein L.P. raised its holdings in Larimar Therapeutics by 19.5% in the third quarter. Alliancebernstein L.P. now owns 74,530 shares of the company’s stock valued at $241,000 after acquiring an additional 12,150 shares in the last quarter. Finally, Creative Planning acquired a new position in Larimar Therapeutics in the third quarter valued at $208,000. 91.92% of the stock is 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. Larimar Therapeutics, Inc is based in Bala Cynwyd, Pennsylvania.