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

Larimar Therapeutics, Inc. (NASDAQ:LRMR) has been given a consensus recommendation of “Buy” by the ten brokerages that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, seven have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $16.2857.

Several equities analysts have weighed in on LRMR shares. Leerink Partners upgraded Larimar Therapeutics to a “strong-buy” rating in a report on Monday, January 5th. Wedbush upped their price objective on Larimar Therapeutics from $11.00 to $12.00 and gave the stock an “outperform” rating in a report on Tuesday, March 3rd. Citigroup increased their target price on Larimar Therapeutics from $12.00 to $14.00 and gave the company a “buy” rating in a research report on Wednesday, February 25th. Weiss Ratings reissued a “sell (d-)” rating on shares of Larimar Therapeutics in a report on Thursday, January 22nd. Finally, Lifesci Capital upgraded shares of Larimar Therapeutics to a “strong-buy” rating in a research report on Tuesday, February 24th.

Larimar Therapeutics Price Performance

Shares of Larimar Therapeutics stock opened at $5.22 on Friday. Larimar Therapeutics has a twelve month low of $1.61 and a twelve month high of $6.42. The business has a 50-day moving average price of $3.70 and a 200-day moving average price of $3.85. The firm has a market cap of $540.74 million, a price-to-earnings ratio of -2.70 and a beta of 0.91.

Insider Activity at Larimar Therapeutics

In other Larimar Therapeutics news, Director James E. Flynn bought 5,000,000 shares of Larimar Therapeutics 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 acquisition, the director directly owned 10,622,957 shares in the company, valued at approximately $53,114,785. This represents a 88.92% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 4.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in LRMR. Deerfield Management Company L.P. increased its stake in Larimar Therapeutics by 44.2% during the third quarter. Deerfield Management Company L.P. now owns 30,606,974 shares of the company’s stock worth $98,861,000 after acquiring an additional 9,375,000 shares during the last quarter. Opaleye Management Inc. raised its position in Larimar Therapeutics by 114.7% during the second quarter. Opaleye Management Inc. now owns 4,110,000 shares of the company’s stock valued at $11,878,000 after purchasing an additional 2,195,923 shares during the period. Woodline Partners LP lifted its stake in shares of Larimar Therapeutics by 160.6% in the 3rd quarter. Woodline Partners LP now owns 1,622,850 shares of the company’s stock valued at $5,242,000 after purchasing an additional 1,000,168 shares during the last quarter. AIGH Capital Management LLC purchased a new position in shares of Larimar Therapeutics in the 3rd quarter worth approximately $3,230,000. Finally, Blue Owl Capital Holdings LP boosted its holdings in shares of Larimar Therapeutics by 16.6% in the 4th quarter. Blue Owl Capital Holdings LP now owns 6,823,690 shares of the company’s stock worth $25,998,000 after purchasing an additional 970,650 shares during the period. Institutional investors own 91.92% of the company’s stock.

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. Larimar Therapeutics, Inc is based in Bala Cynwyd, Pennsylvania.