Larimar Therapeutics’ (LRMR) Buy Rating Reaffirmed at Guggenheim

Larimar Therapeutics (NASDAQ:LRMR)‘s stock had its “buy” rating restated by investment analysts at Guggenheim in a research report issued to clients and investors on Tuesday,Benzinga reports. They currently have a $26.00 price objective on the stock.

A number of other analysts have also weighed in on LRMR. Truist Financial began coverage on shares of Larimar Therapeutics in a research note on Wednesday, January 29th. They issued a “buy” rating and a $18.00 price target for the company. HC Wainwright upped their target price on Larimar Therapeutics from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Robert W. Baird lowered their price target on Larimar Therapeutics from $13.00 to $10.00 and set an “outperform” rating on the stock in a research report on Tuesday. Eleven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Larimar Therapeutics has an average rating of “Buy” and a consensus target price of $20.22.

Larimar Therapeutics Price Performance

Shares of Larimar Therapeutics stock opened at $2.25 on Tuesday. Larimar Therapeutics has a 1-year low of $2.19 and a 1-year high of $11.20. The business’s fifty day moving average price is $3.11 and its two-hundred day moving average price is $5.18. The company has a market capitalization of $143.57 million, a P/E ratio of -1.96 and a beta of 0.99.

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of LRMR. Barclays PLC grew its holdings in shares of Larimar Therapeutics by 321.2% in the 3rd quarter. Barclays PLC now owns 60,032 shares of the company’s stock worth $393,000 after acquiring an additional 45,781 shares during the last quarter. Janus Henderson Group PLC boosted its position in shares of Larimar Therapeutics by 27.2% in the 3rd quarter. Janus Henderson Group PLC now owns 5,566,855 shares of the company’s stock valued at $36,379,000 after purchasing an additional 1,189,467 shares during the period. SG Americas Securities LLC increased its stake in Larimar Therapeutics by 35.1% in the 4th quarter. SG Americas Securities LLC now owns 19,391 shares of the company’s stock worth $75,000 after purchasing an additional 5,042 shares in the last quarter. XTX Topco Ltd purchased a new position in Larimar Therapeutics in the 3rd quarter worth about $100,000. Finally, Franklin Resources Inc. raised its holdings in Larimar Therapeutics by 21.9% during the 3rd 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. Institutional investors own 91.92% of the company’s stock.

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.