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

Shares of Larimar Therapeutics, Inc. (NASDAQ:LRMR - Get Free Report) have been assigned an average rating of "Buy" from the ten brokerages that are currently covering the stock, MarketBeat reports. Nine investment analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $19.63.

Several brokerages have recently issued reports on LRMR. Robert W. Baird reduced their price objective on 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 reissued a "buy" rating and issued a $26.00 target price on shares of Larimar Therapeutics in a report on Tuesday, March 25th. HC Wainwright increased their target price on Larimar Therapeutics from $15.00 to $16.00 and gave the company a "buy" rating in a report on Tuesday, March 25th. Truist Financial started coverage on Larimar Therapeutics in a report on Wednesday, January 29th. They issued a "buy" rating and a $18.00 target price on the stock. Finally, Citigroup reaffirmed a "buy" rating on shares of Larimar Therapeutics in a report on Tuesday, March 25th.

Institutional Investors Weigh In On Larimar Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Janus Henderson Group PLC lifted its stake in shares of Larimar Therapeutics by 15.7% during the 4th quarter. Janus Henderson Group PLC now owns 6,443,286 shares of the company's stock worth $24,936,000 after purchasing an additional 876,431 shares during the period. Blue Owl Capital Holdings LP lifted its stake in shares of Larimar Therapeutics by 11.7% during the 4th quarter. Blue Owl Capital Holdings LP now owns 4,653,040 shares of the company's stock worth $18,007,000 after purchasing an additional 486,211 shares during the period. Adage Capital Partners GP L.L.C. lifted its stake in shares of Larimar Therapeutics by 23.5% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 2,100,000 shares of the company's stock worth $8,127,000 after purchasing an additional 399,123 shares during the period. Alyeska Investment Group L.P. lifted its stake in shares of Larimar Therapeutics by 38.6% during the 4th quarter. Alyeska Investment Group L.P. now owns 984,077 shares of the company's stock worth $3,808,000 after purchasing an additional 273,920 shares during the period. Finally, Nuveen LLC purchased a new position in shares of Larimar Therapeutics during the 1st quarter worth $376,000. Hedge funds and other institutional investors own 91.92% of the company's stock.

Larimar Therapeutics Stock Down 9.6%

NASDAQ:LRMR traded down $0.20 during trading hours on Monday, reaching $1.88. 1,169,485 shares of the stock were exchanged, compared to its average volume of 763,300. The business has a 50-day moving average of $2.28 and a two-hundred day moving average of $3.98. Larimar Therapeutics has a twelve month low of $1.61 and a twelve month high of $11.20. The company has a market capitalization of $120.37 million, a price-to-earnings ratio of -1.63 and a beta of 0.93.

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

About Larimar Therapeutics

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.