Larimar Therapeutics, Inc. (NASDAQ:LRMR) Given Average Rating of “Buy” by Brokerages

Shares of Larimar Therapeutics, Inc. (NASDAQ:LRMR) have received an average rating of “Buy” from the six analysts that are currently covering the company, MarketBeat reports. Six research analysts have rated the stock with a buy rating. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $21.33.

Several research firms have commented on LRMR. JMP Securities reaffirmed a “market outperform” rating and issued a $25.00 target price on shares of Larimar Therapeutics in a research note on Friday, May 31st. SVB Leerink began coverage on Larimar Therapeutics in a research report on Wednesday, April 3rd. They issued an “outperform” rating and a $25.00 price objective for the company. Citigroup upped their target price on Larimar Therapeutics from $10.00 to $14.00 and gave the company a “buy” rating in a research note on Wednesday, May 22nd. Finally, Leerink Partnrs reissued an “outperform” rating on shares of Larimar Therapeutics in a research note on Wednesday, April 3rd.

Larimar Therapeutics Trading Down 0.1 %

Larimar Therapeutics stock opened at $9.32 on Friday. The stock has a 50-day moving average price of $8.36 and a 200 day moving average price of $7.87. Larimar Therapeutics has a 52 week low of $2.18 and a 52 week high of $13.68. The stock has a market cap of $594.62 million, a PE ratio of -9.61 and a beta of 1.01.

Larimar Therapeutics (NASDAQ:LRMR) last issued its quarterly earnings results on Thursday, May 9th. The company reported ($0.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.03). On average, equities analysts predict that Larimar Therapeutics will post -1.29 EPS for the current year.

Institutional Trading of Larimar Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC grew its position in Larimar Therapeutics by 27.3% during the fourth quarter. SG Americas Securities LLC now owns 14,159 shares of the company’s stock valued at $64,000 after acquiring an additional 3,039 shares during the period. Assenagon Asset Management S.A. purchased a new position in shares of Larimar Therapeutics in the 1st quarter worth about $4,829,000. Vanguard Group Inc. lifted its stake in shares of Larimar Therapeutics by 62.7% in the 1st quarter. Vanguard Group Inc. now owns 2,367,701 shares of the company’s stock valued at $17,971,000 after purchasing an additional 912,458 shares in the last quarter. EntryPoint Capital LLC purchased a new stake in shares of Larimar Therapeutics during the 1st quarter worth about $106,000. Finally, Janus Henderson Group PLC grew its holdings in shares of Larimar Therapeutics by 52.2% during the 1st quarter. Janus Henderson Group PLC now owns 4,020,965 shares of the company’s stock worth $30,459,000 after purchasing an additional 1,379,900 shares during the period. 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.