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

Shares of Larimar Therapeutics, Inc. (NASDAQ:LRMR) have been given a consensus recommendation of “Buy” by the twelve ratings firms that are covering the stock, Marketbeat reports. Eleven analysts have rated the stock with a buy rating and one has 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 $20.22.

A number of equities research analysts have commented on LRMR shares. HC Wainwright raised their target price on Larimar Therapeutics from $15.00 to $16.00 and gave the company a “buy” rating in a report on Tuesday, March 25th. Truist Financial started coverage on shares of Larimar Therapeutics in a research note on Wednesday, January 29th. They issued a “buy” rating and a $18.00 price objective for the company. Robert W. Baird decreased their price objective on shares of Larimar Therapeutics from $13.00 to $10.00 and set an “outperform” rating on the stock in a report on Tuesday, March 25th. Finally, Guggenheim restated a “buy” rating and set a $26.00 target price on shares of Larimar Therapeutics in a research report on Tuesday, March 25th.

Larimar Therapeutics Stock Down 2.1 %

Shares of Larimar Therapeutics stock opened at $2.35 on Friday. The firm has a market cap of $149.95 million, a price-to-earnings ratio of -2.04 and a beta of 0.99. Larimar Therapeutics has a 52-week low of $2.19 and a 52-week high of $11.20. The company’s 50-day simple moving average is $3.08 and its 200-day simple moving average is $5.10.

Larimar Therapeutics (NASDAQ:LRMR) last issued its earnings results on Monday, March 24th. The company reported ($0.45) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.16). Equities research analysts anticipate that Larimar Therapeutics will post -1.15 EPS for the current year.

Institutional Investors Weigh In On Larimar Therapeutics

A number of large investors have recently bought and sold shares of LRMR. Fi3 FINANCIAL ADVISORS LLC raised its holdings in Larimar Therapeutics by 16.7% in the 4th quarter. Fi3 FINANCIAL ADVISORS LLC now owns 23,798 shares of the company’s stock valued at $92,000 after acquiring an additional 3,411 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Larimar Therapeutics by 18.7% in the third quarter. JPMorgan Chase & Co. now owns 21,771 shares of the company’s stock valued at $143,000 after purchasing an additional 3,425 shares during the last quarter. Franklin Resources Inc. lifted its position in Larimar Therapeutics by 21.9% during the third quarter. Franklin Resources Inc. now owns 19,723 shares of the company’s stock worth $143,000 after buying an additional 3,549 shares during the period. Envestnet Asset Management Inc. lifted its position in Larimar Therapeutics by 12.3% during the fourth quarter. Envestnet Asset Management Inc. now owns 35,525 shares of the company’s stock worth $137,000 after buying an additional 3,877 shares during the period. Finally, Bank of America Corp DE boosted its stake in Larimar Therapeutics by 8.1% in the 4th quarter. Bank of America Corp DE now owns 53,190 shares of the company’s stock worth $206,000 after buying an additional 3,980 shares during the last quarter. Institutional investors and hedge funds 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.