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

Shares of Larimar Therapeutics, Inc. (NASDAQ:LRMR) have earned a consensus rating of “Buy” from the nine research firms that are currently covering the stock, MarketBeat reports. Eight research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $18.50.

LRMR has been the subject of a number of research analyst reports. Wedbush decreased their price objective on shares of Larimar Therapeutics from $17.00 to $15.00 and set an “outperform” rating for the company in a report on Tuesday, June 24th. Guggenheim reaffirmed a “buy” rating and set a $26.00 target price on shares of Larimar Therapeutics in a research report on Tuesday, June 24th. Finally, Citigroup reaffirmed a “buy” rating on shares of Larimar Therapeutics in a research note on Tuesday, June 24th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LRMR. Envestnet Asset Management Inc. lifted its position in shares of Larimar Therapeutics by 12.3% in the 4th quarter. Envestnet Asset Management Inc. now owns 35,525 shares of the company’s stock worth $137,000 after purchasing an additional 3,877 shares during the period. Bank of America Corp DE raised its stake in Larimar Therapeutics by 8.1% in the fourth 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 in the last quarter. BNP Paribas Financial Markets purchased a new stake in Larimar Therapeutics during the fourth quarter worth $25,000. Wells Fargo & Company MN boosted its position in Larimar Therapeutics by 51.7% during the 4th quarter. Wells Fargo & Company MN now owns 19,657 shares of the company’s stock valued at $76,000 after acquiring an additional 6,701 shares in the last quarter. Finally, American Century Companies Inc. boosted its position in Larimar Therapeutics by 14.2% during the 1st quarter. American Century Companies Inc. now owns 64,284 shares of the company’s stock valued at $138,000 after acquiring an additional 7,990 shares in the last quarter. 91.92% of the stock is currently owned by institutional investors.

Larimar Therapeutics Stock Up 1.1%

LRMR opened at $3.57 on Friday. The business has a fifty day moving average of $2.93 and a 200 day moving average of $2.76. The stock has a market cap of $228.59 million, a P/E ratio of -2.40 and a beta of 0.86. Larimar Therapeutics has a 52-week low of $1.61 and a 52-week high of $9.50.

Larimar Therapeutics (NASDAQ:LRMR) last released its earnings results on Wednesday, April 30th. The company reported ($0.46) earnings per share for the quarter, missing the consensus estimate of ($0.42) by ($0.04). Equities analysts anticipate that Larimar Therapeutics will post -1.15 EPS for the current fiscal 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.