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

Larimar Therapeutics, Inc. (NASDAQ:LRMR) has received a consensus rating of “Buy” from the six analysts that are presently covering the company, Marketbeat.com reports. Six investment analysts have rated the stock with a buy rating. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $21.33.

A number of analysts have weighed in on LRMR shares. Lifesci Capital reiterated an “outperform” rating on shares of Larimar Therapeutics in a research note on Tuesday, February 20th. JMP Securities reiterated a “market outperform” rating and issued a $25.00 target price on shares of Larimar Therapeutics in a research note on Friday, May 31st. Leerink Partnrs reiterated an “outperform” rating on shares of Larimar Therapeutics in a research note on Wednesday, April 3rd. Citigroup raised their price target on Larimar Therapeutics from $10.00 to $14.00 and gave the stock a “buy” rating in a report on Wednesday, May 22nd. Finally, SVB Leerink started coverage on Larimar Therapeutics in a report on Wednesday, April 3rd. They set an “outperform” rating and a $25.00 target price for the company.

Larimar Therapeutics Stock Down 14.9 %

Shares of LRMR opened at $7.99 on Tuesday. The company has a market cap of $509.76 million, a PE ratio of -8.24 and a beta of 0.88. The business has a fifty day moving average of $7.71 and a 200 day moving average of $7.18. Larimar Therapeutics has a 52-week low of $2.18 and a 52-week high of $13.68.

Larimar Therapeutics (NASDAQ:LRMR) last issued its quarterly earnings results on Thursday, May 9th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.03). As a group, research analysts anticipate that Larimar Therapeutics will post -1.29 earnings per share for the current fiscal year.

Institutional Trading of Larimar Therapeutics

Several large investors have recently made changes to their positions in LRMR. Adage Capital Partners GP L.L.C. boosted its stake in Larimar Therapeutics by 80.6% during the third quarter. Adage Capital Partners GP L.L.C. now owns 1,176,680 shares of the company’s stock worth $4,648,000 after buying an additional 525,000 shares during the last quarter. SG Americas Securities LLC boosted its stake in Larimar Therapeutics by 27.3% during the fourth quarter. SG Americas Securities LLC now owns 14,159 shares of the company’s stock worth $64,000 after buying an additional 3,039 shares during the last quarter. Fred Alger Management LLC boosted its stake in Larimar Therapeutics by 22.5% during the third quarter. Fred Alger Management LLC now owns 116,269 shares of the company’s stock worth $459,000 after buying an additional 21,331 shares during the last quarter. Pale Fire Capital SE acquired a new position in Larimar Therapeutics during the third quarter worth $48,000. Finally, Vanguard Group Inc. boosted its stake in Larimar Therapeutics by 62.7% during the first quarter. Vanguard Group Inc. now owns 2,367,701 shares of the company’s stock worth $17,971,000 after buying an additional 912,458 shares during the last quarter. 91.92% of the stock is currently owned by hedge funds and other institutional investors.

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.