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

Larimar Therapeutics, Inc. (NASDAQ:LRMR) has earned a consensus recommendation of “Buy” from the six analysts that are presently covering the company, Marketbeat reports. Six equities research analysts have rated the stock with a buy recommendation. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $18.50.

A number of analysts have recently commented on LRMR shares. Lifesci Capital reiterated an “outperform” rating on shares of Larimar Therapeutics in a research note on Tuesday, February 20th. Leerink Partnrs reiterated an “outperform” rating on shares of Larimar Therapeutics in a research note on Wednesday, April 3rd. JMP Securities reiterated a “market outperform” rating and set a $25.00 price objective on shares of Larimar Therapeutics in a research note on Friday, March 15th. SVB Leerink started coverage on shares of Larimar Therapeutics in a report on Wednesday, April 3rd. They issued an “outperform” rating and a $25.00 target price for the company. Finally, Citigroup lifted their price target on shares of Larimar Therapeutics from $4.50 to $10.00 and gave the company a “buy” rating in a report on Tuesday, February 13th.

Insider Transactions at Larimar Therapeutics

In other Larimar Therapeutics news, Director James E. Flynn bought 4,290,617 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were bought at an average price of $8.74 per share, with a total value of $37,499,992.58. Following the purchase, the director now owns 6,151,406 shares of the company’s stock, valued at $53,763,288.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 4.30% of the company’s stock.

Hedge Funds Weigh In On Larimar Therapeutics

Several institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC lifted its stake in Larimar Therapeutics by 27.3% in the 4th quarter. SG Americas Securities LLC now owns 14,159 shares of the company’s stock worth $64,000 after purchasing an additional 3,039 shares in the last quarter. Pale Fire Capital SE bought a new stake in shares of Larimar Therapeutics in the third quarter worth about $48,000. Fred Alger Management LLC lifted its position in shares of Larimar Therapeutics by 22.5% in 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 in the last quarter. 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 valued at $4,648,000 after buying an additional 525,000 shares during the last quarter. Finally, Assenagon Asset Management S.A. purchased a new position in Larimar Therapeutics during the 1st quarter valued at approximately $4,829,000. 91.92% of the stock is owned by hedge funds and other institutional investors.

Larimar Therapeutics Trading Up 1.7 %

Shares of LRMR opened at $6.44 on Monday. The company has a market cap of $410.87 million, a price-to-earnings ratio of -7.58 and a beta of 0.93. The business’s fifty day simple moving average is $8.74 and its two-hundred day simple moving average is $5.89. 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 quarterly earnings data on Thursday, March 14th. The company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.05). As a group, research analysts forecast that Larimar Therapeutics will post -1.24 EPS 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.