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

Shares of Larimar Therapeutics, Inc. (NASDAQ:LRMR) have been assigned a consensus rating of “Buy” from the eleven brokerages that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, seven have given a buy rating and three have issued a strong buy rating on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $15.2857.

LRMR has been the topic of a number of analyst reports. Citigroup upped their target price on shares of Larimar Therapeutics from $12.00 to $14.00 and gave the company a “buy” rating in a research note on Wednesday, February 25th. JPMorgan Chase & Co. started coverage on Larimar Therapeutics in a report on Wednesday, May 27th. They set an “overweight” rating and a $9.00 price objective on the stock. Lifesci Capital upgraded Larimar Therapeutics to a “strong-buy” rating in a research note on Tuesday, February 24th. Truist Financial raised Larimar Therapeutics to a “strong-buy” rating in a report on Wednesday, March 25th. Finally, Wall Street Zen upgraded Larimar Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 16th.

Larimar Therapeutics Price Performance

Shares of Larimar Therapeutics stock opened at $3.59 on Tuesday. The firm has a market capitalization of $372.93 million, a PE ratio of -1.74 and a beta of 0.83. The company’s fifty day moving average price is $4.04 and its two-hundred day moving average price is $3.96. Larimar Therapeutics has a 52-week low of $2.22 and a 52-week high of $6.42.

Larimar Therapeutics (NASDAQ:LRMR) last released its quarterly earnings data on Thursday, May 14th. The company reported ($0.31) EPS for the quarter, topping analysts’ consensus estimates of ($0.53) by $0.22. Analysts predict that Larimar Therapeutics will post -1.66 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Larimar Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. AIGH Capital Management LLC raised its position in Larimar Therapeutics by 100.0% in the 4th quarter. AIGH Capital Management LLC now owns 2,000,000 shares of the company’s stock valued at $7,620,000 after purchasing an additional 1,000,000 shares during the last quarter. Blue Owl Capital Holdings LP increased its stake in shares of Larimar Therapeutics by 18.8% in the third quarter. Blue Owl Capital Holdings LP now owns 5,853,040 shares of the company’s stock valued at $18,905,000 after buying an additional 925,000 shares in the last quarter. Cantor Fitzgerald L. P. bought a new position in shares of Larimar Therapeutics in the third quarter valued at about $412,000. SG Americas Securities LLC acquired a new position in Larimar Therapeutics during the 4th quarter worth about $60,000. Finally, SummitTX Capital L.P. acquired a new position in Larimar Therapeutics during the 1st quarter worth about $1,709,000. 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. Larimar Therapeutics, Inc is based in Bala Cynwyd, Pennsylvania.