Larimar Therapeutics, Inc. (NASDAQ:LRMR) Stock Now Rated "Buy" by Wall Street Analysts

Key Points

• Larimar Therapeutics received a consensus “Buy” rating from nine analysts: six rate it a buy, two a strong buy, and one a sell. The average 12-month price target is $10.33.
• LRMR opened at $2.12, with a market capitalization of approximately $220 million and a 52-week range of $1.92 to $6.42. Recent analyst targets range from $5 to $13.
• The company reported a quarterly loss of $0.30 per share, beating estimates of a $0.38 loss, while institutional investors and hedge funds own approximately 91.92% of outstanding shares.

Shares of Larimar Therapeutics, Inc. (NASDAQ:LRMR - Get Free Report) have been given a consensus recommendation of "Buy" by the nine analysts that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, six have given a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $10.33.

Several research analysts have commented on the company. Leerink Partners began coverage on Larimar Therapeutics in a research report on Monday, September 14th. They issued an "outperform" rating and a $13.00 price objective on the stock. Weiss Ratings restated a "sell (d-)" rating on shares of Larimar Therapeutics in a research note on Thursday. Citigroup reaffirmed a "buy" rating on shares of Larimar Therapeutics in a research report on Tuesday, June 30th. Robert W. Baird lowered their target price on Larimar Therapeutics from $7.00 to $5.00 and set an "outperform" rating for the company in a research note on Tuesday, June 30th. Finally, Wedbush lowered their target price on Larimar Therapeutics from $12.00 to $11.00 and set an "outperform" rating for the company in a research note on Wednesday, August 5th.

Larimar Therapeutics Trading Up 6.8%

NASDAQ:LRMR opened at $2.12 on Tuesday. The firm has a market capitalization of $220.23 million, a price-to-earnings ratio of -1.09 and a beta of 0.68. The firm's fifty day simple moving average is $3.54 and its 200 day simple moving average is $3.78. Larimar Therapeutics has a twelve month low of $1.92 and a twelve month high of $6.42.

Larimar Therapeutics (NASDAQ:LRMR - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The company reported ($0.30) earnings per share for the quarter, topping analysts' consensus estimates of ($0.38) by $0.08. On average, analysts predict that Larimar Therapeutics will post -1.37 earnings per share for the current year.

Hedge Funds Weigh In On Larimar Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Sei Investments Co. increased its stake in shares of Larimar Therapeutics by 54.5% in the first quarter. Sei Investments Co. now owns 16,336 shares of the company's stock worth $74,000 after buying an additional 5,763 shares during the last quarter. Bank of America Corp DE raised its holdings in Larimar Therapeutics by 17.0% in the first quarter. Bank of America Corp DE now owns 47,359 shares of the company's stock valued at $213,000 after acquiring an additional 6,886 shares in the last quarter. Integrated Wealth Concepts LLC bought a new position in Larimar Therapeutics during the 2nd quarter valued at $27,000. Pallas Capital Advisors LLC bought a new position in Larimar Therapeutics during the 2nd quarter valued at $31,000. Finally, Strs Ohio boosted its stake in Larimar Therapeutics by 174.7% during the 1st quarter. Strs Ohio now owns 21,700 shares of the company's stock valued at $98,000 after acquiring an additional 13,800 shares during the last quarter. 91.92% of the stock is owned by institutional investors and hedge funds.

Larimar Therapeutics Company Profile

Larimar Therapeutics, Inc is a clinical-stage biotechnology company headquartered in Bala Cynwyd, Pennsylvania, focused on developing treatments for rare diseases.

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