Larimar Therapeutics, Inc. (NASDAQ:LRMR) Given Average Rating of "Buy" by Brokerages

Shares of Larimar Therapeutics, Inc. (NASDAQ:LRMR - Get Free Report) have been assigned a consensus rating of "Buy" from the nine brokerages that are currently covering the company, MarketBeat.com reports. Eight research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $19.67.

A number of research analysts recently weighed in on the stock. Citigroup reaffirmed a "buy" rating on shares of Larimar Therapeutics in a research note on Tuesday, March 25th. Robert W. Baird decreased their price target on shares of Larimar Therapeutics from $13.00 to $10.00 and set an "outperform" rating on the stock in a research note on Tuesday, March 25th. Guggenheim reaffirmed a "buy" rating and issued a $26.00 price target on shares of Larimar Therapeutics in a research note on Tuesday, March 25th. Finally, HC Wainwright raised their price target on shares of Larimar Therapeutics from $15.00 to $16.00 and gave the company a "buy" rating in a research note on Tuesday, March 25th.

Larimar Therapeutics Stock Up 0.4%

LRMR stock opened at $2.46 on Friday. The company's 50-day simple moving average is $2.10 and its 200-day simple moving average is $3.29. Larimar Therapeutics has a 52-week low of $1.61 and a 52-week high of $11.20. The firm has a market cap of $157.51 million, a P/E ratio of -2.14 and a beta of 0.79.

Larimar Therapeutics (NASDAQ:LRMR - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The company reported ($0.46) earnings per share for the quarter, missing analysts' consensus estimates of ($0.42) by ($0.04). On average, analysts anticipate that Larimar Therapeutics will post -1.15 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of LRMR. BNP Paribas Financial Markets purchased a new position in Larimar Therapeutics in the 4th quarter worth approximately $25,000. Walleye Capital LLC acquired a new stake in shares of Larimar Therapeutics during the 1st quarter worth approximately $37,000. Algert Global LLC acquired a new stake in shares of Larimar Therapeutics during the 4th quarter worth approximately $47,000. Graham Capital Management L.P. acquired a new stake in shares of Larimar Therapeutics during the 4th quarter worth approximately $54,000. Finally, ProShare Advisors LLC acquired a new stake in shares of Larimar Therapeutics during the 4th quarter worth approximately $58,000. 91.92% of the stock is owned by hedge funds and other institutional investors.

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.

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