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

Larimar Therapeutics, Inc. (NASDAQ:LRMR) has been assigned a consensus rating of “Buy” from the six ratings firms that are presently covering the firm, Marketbeat Ratings reports. Six investment analysts have rated the stock with a buy recommendation. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $18.50.

A number of research firms have recently weighed in on LRMR. SVB Leerink started coverage on Larimar Therapeutics in a research note on Wednesday, April 3rd. They issued an “outperform” rating and a $25.00 price target on the stock. Citigroup increased their price target on Larimar Therapeutics from $4.50 to $10.00 and gave the stock a “buy” rating in a report on Tuesday, February 13th. JMP Securities reaffirmed a “market outperform” rating and issued a $25.00 price objective on shares of Larimar Therapeutics in a research report on Friday, March 15th. Lifesci Capital reiterated an “outperform” rating on shares of Larimar Therapeutics in a report on Tuesday, February 20th. Finally, Leerink Partnrs restated an “outperform” rating on shares of Larimar Therapeutics in a report on Wednesday, April 3rd.

Larimar Therapeutics Stock Up 1.7 %

Shares of LRMR opened at $6.44 on Monday. The stock’s fifty day simple moving average is $8.74 and its 200-day simple moving average is $5.89. The firm has a market capitalization of $410.87 million, a PE ratio of -7.58 and a beta of 0.93. Larimar Therapeutics has a 12-month low of $2.18 and a 12-month high of $13.68.

Larimar Therapeutics (NASDAQ:LRMR) last issued its quarterly earnings results on Thursday, March 14th. The company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.05). Analysts anticipate that Larimar Therapeutics will post -1.24 EPS for the current year.

Insiders Place Their Bets

In other news, Director James E. Flynn bought 4,290,617 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The stock was acquired at an average cost of $8.74 per share, with a total value of $37,499,992.58. Following the completion of the purchase, the director now owns 6,151,406 shares of the company’s stock, valued at $53,763,288.44. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 4.30% of the company’s stock.

Institutional Investors Weigh In On Larimar Therapeutics

A number of large investors have recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. bought a new position in Larimar Therapeutics in the 1st quarter valued at about $4,829,000. SG Americas Securities LLC boosted its holdings in shares of Larimar Therapeutics by 27.3% during the 4th quarter. SG Americas Securities LLC now owns 14,159 shares of the company’s stock valued at $64,000 after acquiring an additional 3,039 shares in the last quarter. Adage Capital Partners GP L.L.C. grew its position in Larimar Therapeutics by 80.6% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,176,680 shares of the company’s stock worth $4,648,000 after acquiring an additional 525,000 shares during the last quarter. Fred Alger Management LLC grew its position in Larimar Therapeutics by 22.5% during the 3rd quarter. Fred Alger Management LLC now owns 116,269 shares of the company’s stock worth $459,000 after acquiring an additional 21,331 shares during the last quarter. Finally, Pale Fire Capital SE acquired a new position in Larimar Therapeutics in the 3rd quarter worth about $48,000. 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.