Larimar Therapeutics, Inc. (NASDAQ:LRMR) Stock Now Rated “Buy” by Wall Street Analysts

Shares of Larimar Therapeutics, Inc. (NASDAQ:LRMR) have been assigned a consensus rating of “Buy” from the ten research firms that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, seven have given a buy rating and two have assigned a strong buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $11.86.

Several brokerages have recently issued reports on LRMR. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Larimar Therapeutics in a research note on Friday, July 17th. HC Wainwright assumed coverage on Larimar Therapeutics in a research report on Thursday, July 2nd. They issued a “buy” rating and a $10.00 price objective for the company. Robert W. Baird dropped their price objective on Larimar Therapeutics from $7.00 to $5.00 and set an “outperform” rating for the company in a report on Tuesday, June 30th. Leerink Partners began coverage on shares of Larimar Therapeutics in a research report on Monday, September 14th. They set an “outperform” rating and a $13.00 target price on the stock. Finally, Citigroup reaffirmed a “buy” rating on shares of Larimar Therapeutics in a research note on Tuesday, June 30th.

Insider Buying and Selling at Larimar Therapeutics

In other Larimar Therapeutics news, Director Thomas Hamilton acquired 50,000 shares of the business’s stock in a transaction that occurred on Monday, July 6th. The shares were acquired at an average cost of $3.34 per share, for a total transaction of $167,000.00. Following the completion of the acquisition, the director directly owned 714,798 shares of the company’s stock, valued at approximately $2,387,425.32. This represents a 7.52% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 4.00% of the stock is currently owned by company insiders.

Institutional Trading of Larimar Therapeutics

Institutional investors have recently bought and sold shares of the business. BlackRock Inc. acquired a new position in shares of Larimar Therapeutics in the 2nd quarter valued at $17,318,000. AIGH Capital Management LLC grew its stake in shares of Larimar Therapeutics by 50.0% during the first quarter. AIGH Capital Management LLC now owns 3,000,000 shares of the company’s stock worth $13,500,000 after purchasing an additional 1,000,000 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Larimar Therapeutics by 143.8% during the first quarter. Dimensional Fund Advisors LP now owns 798,462 shares of the company’s stock worth $3,592,000 after purchasing an additional 470,968 shares during the period. Renaissance Technologies LLC increased its holdings in Larimar Therapeutics by 148.9% in the first quarter. Renaissance Technologies LLC now owns 739,942 shares of the company’s stock valued at $3,330,000 after purchasing an additional 442,676 shares during the last quarter. Finally, SummitTX Capital L.P. bought a new stake in Larimar Therapeutics in the first quarter valued at about $1,709,000. Institutional investors and hedge funds own 91.92% of the company’s stock.

Larimar Therapeutics Price Performance

LRMR stock opened at $3.14 on Friday. The company has a 50 day moving average price of $3.93 and a 200 day moving average price of $3.98. Larimar Therapeutics has a fifty-two week low of $2.71 and a fifty-two week high of $6.42. The stock has a market capitalization of $326.18 million, a PE ratio of -1.61 and a beta of 0.74.

Larimar Therapeutics (NASDAQ:LRMR) last posted its quarterly earnings data on Tuesday, August 4th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.38) by $0.08. As a group, equities analysts expect that Larimar Therapeutics will post -1.5 earnings per share for the current fiscal year.

About Larimar Therapeutics

Larimar Therapeutics, Inc is a clinical-stage biotechnology company focused on developing treatments for rare diseases caused by deficiencies in mitochondrial proteins. The company’s platform is designed to use cell-penetrating peptides to transport therapeutic proteins into cells and mitochondria, where they may help restore impaired biological functions.

Larimar’s lead product candidate is nomlabofusp, formerly known as CTI-1601, an investigational protein-replacement therapy for Friedreich ataxia.