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

Shares of Larimar Therapeutics, Inc. (NASDAQ:LRMR) have received an average rating of “Moderate Buy” from the nine analysts that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $16.50.

A number of equities research analysts have recently weighed in on the stock. Leerink Partners upgraded shares of Larimar Therapeutics to a “strong-buy” rating in a report on Monday, January 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of Larimar Therapeutics in a report on Thursday, January 22nd.

Institutional Investors Weigh In On Larimar Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in LRMR. BNP Paribas Financial Markets boosted its holdings in Larimar Therapeutics by 75.8% in the third quarter. BNP Paribas Financial Markets now owns 10,146 shares of the company’s stock valued at $33,000 after purchasing an additional 4,376 shares in the last quarter. Savant Capital LLC purchased a new stake in shares of Larimar Therapeutics during the 2nd quarter worth approximately $39,000. B.O.S.S. Retirement Advisors LLC acquired a new position in shares of Larimar Therapeutics in the 3rd quarter valued at $41,000. Coldstream Capital Management Inc. purchased a new position in shares of Larimar Therapeutics in the 3rd quarter valued at $57,000. Finally, Wealth Enhancement Advisory Services LLC raised its stake in Larimar Therapeutics by 33.9% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 18,248 shares of the company’s stock worth $59,000 after acquiring an additional 4,619 shares in the last quarter. Institutional investors and hedge funds own 91.92% of the company’s stock.

Larimar Therapeutics Stock Performance

Shares of LRMR opened at $3.33 on Wednesday. Larimar Therapeutics has a 1 year low of $1.61 and a 1 year high of $5.37. The stock has a market capitalization of $275.66 million, a PE ratio of -1.73 and a beta of 1.00. The stock has a 50-day simple moving average of $3.58 and a 200-day simple moving average of $3.79.

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.