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

Key Points

• Analyst consensus: Ten analysts rate Larimar Therapeutics a consensus "Buy" (1 sell, 6 buy, 3 strong buy) with an average 1-year price target of $16.50.
• Major insider purchase: Director James E. Flynn acquired 5,000,000 shares at $5.00 each on Feb 27 (a $25M transaction), raising his holding to 10,622,957 shares.
• Clinical-stage focus and financials: Larimar is developing CTI-1601 for Friedreich's ataxia (Phase 2 OLE) and recently missed quarterly EPS estimates, with analysts forecasting negative EPS for the year.

Shares of Larimar Therapeutics, Inc. (NASDAQ:LRMR - Get Free Report) have been assigned a consensus recommendation of "Buy" from the ten ratings firms that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, six have issued a buy recommendation and three have assigned a strong buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $16.50.

Several brokerages have recently issued reports on LRMR. Lifesci Capital upgraded shares of Larimar Therapeutics to a "strong-buy" rating in a research note on Tuesday, February 24th. Weiss Ratings restated a "sell (d-)" rating on shares of Larimar Therapeutics in a research note on Tuesday, April 21st. Leerink Partners upgraded shares of Larimar Therapeutics to a "strong-buy" rating in a research note on Monday, January 5th. Citigroup raised their price objective on shares of Larimar Therapeutics from $12.00 to $14.00 and gave the stock a "buy" rating in a research note on Wednesday, February 25th. Finally, Wedbush raised their price objective on shares of Larimar Therapeutics from $12.00 to $13.00 and gave the stock an "outperform" rating in a research note on Friday, March 20th.

Insider Activity

In related news, Director James E. Flynn acquired 5,000,000 shares of the stock in a transaction dated Friday, February 27th. The shares were acquired at an average price of $5.00 per share, for a total transaction of $25,000,000.00. Following the completion of the purchase, the director owned 10,622,957 shares in the company, valued at approximately $53,114,785. The trade was a 88.92% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 4.50% of the company's stock.

Institutional Investors Weigh In On Larimar Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the stock. BNP Paribas Financial Markets grew its stake in shares of Larimar Therapeutics by 75.8% in the third quarter. BNP Paribas Financial Markets now owns 10,146 shares of the company's stock worth $33,000 after acquiring an additional 4,376 shares during the last quarter. B.O.S.S. Retirement Advisors LLC acquired a new stake in Larimar Therapeutics during the third quarter worth $41,000. Coldstream Capital Management Inc. acquired a new stake in Larimar Therapeutics during the third quarter worth $57,000. Wealth Enhancement Advisory Services LLC boosted its stake in Larimar Therapeutics by 33.9% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 18,248 shares of the company's stock worth $59,000 after buying an additional 4,619 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in Larimar Therapeutics during the fourth quarter worth $60,000. Institutional investors and hedge funds own 91.92% of the company's stock.

Larimar Therapeutics Price Performance

NASDAQ:LRMR opened at $4.54 on Monday. Larimar Therapeutics has a 12 month low of $1.73 and a 12 month high of $6.42. The firm has a market cap of $471.62 million, a price-to-earnings ratio of -2.05 and a beta of 1.02. The company's 50 day moving average is $4.64 and its 200-day moving average is $4.01.

Larimar Therapeutics (NASDAQ:LRMR - Get Free Report) last released its quarterly earnings results on Thursday, March 19th. The company reported ($0.73) EPS for the quarter, missing analysts' consensus estimates of ($0.43) by ($0.30). Research analysts predict that Larimar Therapeutics will post -1.93 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. Larimar Therapeutics, Inc is based in Bala Cynwyd, Pennsylvania.

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