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

Larimar Therapeutics, Inc. (NASDAQ:LRMR) has earned a consensus rating of “Buy” from the ten ratings firms that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, six have issued a buy rating and three have assigned a strong buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $16.50.

Several brokerages have weighed in on LRMR. Leerink Partners raised shares of Larimar Therapeutics to a “strong-buy” rating in a research report on Monday, January 5th. Lifesci Capital raised shares of Larimar Therapeutics to a “strong-buy” rating in a research note on Tuesday, February 24th. Truist Financial raised shares of Larimar Therapeutics to a “strong-buy” rating in a research note on Wednesday, March 25th. Citigroup raised their target price on Larimar Therapeutics from $12.00 to $14.00 and gave the stock a “buy” rating in a research note on Wednesday, February 25th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Larimar Therapeutics in a report on Thursday, January 22nd.

Insider Buying and Selling at Larimar Therapeutics

In other Larimar Therapeutics news, Director James E. Flynn acquired 5,000,000 shares of the business’s stock in a transaction dated Friday, February 27th. The shares were purchased at an average cost of $5.00 per share, for a total transaction of $25,000,000.00. Following the transaction, the director owned 10,622,957 shares in the company, valued at $53,114,785. This represents a 88.92% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 4.50% of the company’s stock.

Hedge Funds Weigh In On Larimar Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the business. AIGH Capital Management LLC bought a new stake in Larimar Therapeutics in the third quarter valued at $3,230,000. Blue Owl Capital Holdings LP lifted its position in shares of Larimar Therapeutics by 18.8% in the 3rd quarter. Blue Owl Capital Holdings LP now owns 5,853,040 shares of the company’s stock worth $18,905,000 after purchasing an additional 925,000 shares during the period. Cantor Fitzgerald L. P. bought a new stake in shares of Larimar Therapeutics during the 3rd quarter valued at about $412,000. XTX Topco Ltd bought a new stake in shares of Larimar Therapeutics during the 2nd quarter valued at about $484,000. Finally, OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Larimar Therapeutics by 70.6% during the second quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 307,198 shares of the company’s stock valued at $888,000 after buying an additional 127,171 shares during the period. Institutional investors own 91.92% of the company’s stock.

Larimar Therapeutics Stock Performance

Shares of LRMR stock opened at $4.68 on Thursday. The company has a market capitalization of $486.16 million, a P/E ratio of -2.12 and a beta of 1.02. Larimar Therapeutics has a fifty-two week low of $1.61 and a fifty-two week high of $6.42. The stock has a 50 day moving average price of $4.17 and a two-hundred day moving average price of $3.96.

Larimar Therapeutics (NASDAQ:LRMR) last issued its earnings results on Thursday, March 19th. The company reported ($0.73) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.43) by ($0.30). As a group, equities analysts predict that Larimar Therapeutics will post -1.15 earnings per share for the current 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. Larimar Therapeutics, Inc is based in Bala Cynwyd, Pennsylvania.