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

Shares of Larimar Therapeutics, Inc. (NASDAQ:LRMR) have been given a consensus recommendation of “Buy” by the six brokerages that are presently covering the firm, MarketBeat.com reports. Six investment analysts have rated the stock with a buy rating. The average 1-year price target among brokerages that have covered the stock in the last year is $21.33.

Several equities analysts recently weighed in on LRMR shares. JMP Securities restated a “market outperform” rating and issued a $25.00 price objective on shares of Larimar Therapeutics in a report on Friday, May 31st. Citigroup upped their target price on shares of Larimar Therapeutics from $10.00 to $14.00 and gave the company a “buy” rating in a research report on Wednesday, May 22nd.

Larimar Therapeutics Stock Up 3.2 %

Shares of LRMR opened at $7.68 on Wednesday. The stock’s fifty day simple moving average is $8.66 and its 200-day simple moving average is $8.33. The firm has a market capitalization of $490.00 million, a PE ratio of -7.92 and a beta of 1.01. Larimar Therapeutics has a 12-month low of $2.18 and a 12-month high of $13.68.

Larimar Therapeutics (NASDAQ:LRMR) last released its earnings results on Wednesday, August 7th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.02). Analysts anticipate that Larimar Therapeutics will post -1.29 EPS for the current year.

Institutional Trading of Larimar Therapeutics

A number of hedge funds have recently modified their holdings of the company. RA Capital Management L.P. bought a new stake in Larimar Therapeutics in the first quarter valued at approximately $45,884,000. Janus Henderson Group PLC grew its holdings in shares of Larimar Therapeutics by 52.2% in the 1st quarter. Janus Henderson Group PLC now owns 4,020,965 shares of the company’s stock valued at $30,459,000 after buying an additional 1,379,900 shares during the period. Vanguard Group Inc. increased its position 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 buying an additional 912,458 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in Larimar Therapeutics during the 1st quarter worth $4,829,000. Finally, Bank of New York Mellon Corp lifted its holdings in Larimar Therapeutics by 57.2% during the second quarter. Bank of New York Mellon Corp now owns 134,877 shares of the company’s stock worth $978,000 after acquiring an additional 49,102 shares in the last quarter. 91.92% of the stock is currently owned by institutional investors and hedge funds.

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.