Larimar Therapeutics, Inc. (NASDAQ:LRMR) Receives Average Recommendation of “Buy” from Analysts

Larimar Therapeutics, Inc. (NASDAQ:LRMR) has been given a consensus recommendation of “Buy” by the ten ratings firms that are presently covering the stock, Marketbeat Ratings reports. Nine equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $19.63.

A number of brokerages have recently commented on LRMR. Citigroup reaffirmed a “buy” rating on shares of Larimar Therapeutics in a research report on Tuesday, March 25th. Truist Financial began coverage on Larimar Therapeutics in a research report on Wednesday, January 29th. They set a “buy” rating and a $18.00 price target on the stock. Robert W. Baird dropped their price target on Larimar Therapeutics from $13.00 to $10.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 25th. Guggenheim reissued a “buy” rating and set a $26.00 price objective on shares of Larimar Therapeutics in a report on Tuesday, March 25th. Finally, HC Wainwright increased their price objective on Larimar Therapeutics from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Tuesday, March 25th.

Institutional Trading of Larimar Therapeutics

A number of institutional investors have recently added to or reduced their stakes in LRMR. Fi3 FINANCIAL ADVISORS LLC raised its holdings in shares of Larimar Therapeutics by 16.7% in the 4th quarter. Fi3 FINANCIAL ADVISORS LLC now owns 23,798 shares of the company’s stock valued at $92,000 after acquiring an additional 3,411 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Larimar Therapeutics by 18.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 21,771 shares of the company’s stock valued at $143,000 after acquiring an additional 3,425 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of Larimar Therapeutics by 12.3% in the 4th quarter. Envestnet Asset Management Inc. now owns 35,525 shares of the company’s stock valued at $137,000 after acquiring an additional 3,877 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of Larimar Therapeutics by 8.1% in the 4th quarter. Bank of America Corp DE now owns 53,190 shares of the company’s stock valued at $206,000 after acquiring an additional 3,980 shares in the last quarter. Finally, SG Americas Securities LLC raised its holdings in shares of Larimar Therapeutics by 35.1% in the 4th quarter. SG Americas Securities LLC now owns 19,391 shares of the company’s stock valued at $75,000 after acquiring an additional 5,042 shares in the last quarter. Hedge funds and other institutional investors own 91.92% of the company’s stock.

Larimar Therapeutics Price Performance

Shares of NASDAQ LRMR opened at $1.98 on Monday. Larimar Therapeutics has a one year low of $1.61 and a one year high of $11.20. The business’s fifty day moving average price is $2.20 and its 200-day moving average price is $3.86. The stock has a market capitalization of $126.78 million, a PE ratio of -1.72 and a beta of 0.93.

Larimar Therapeutics (NASDAQ:LRMR) last issued its quarterly earnings results on Wednesday, April 30th. The company reported ($0.46) EPS for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.04). As a group, equities analysts expect that Larimar Therapeutics will post -1.15 EPS for the current fiscal year.

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.