Larimar Therapeutics (NASDAQ:LRMR) Given Buy Rating at Guggenheim

Larimar Therapeutics (NASDAQ:LRMR - Get Free Report)'s stock had its "buy" rating reaffirmed by equities research analysts at Guggenheim in a research report issued on Tuesday,Benzinga reports. They currently have a $26.00 price target on the stock.

Several other equities research analysts have also commented on LRMR. Robert W. Baird decreased their target price on shares of Larimar Therapeutics from $13.00 to $10.00 and set an "outperform" rating on the stock in a research report on Tuesday, March 25th. HC Wainwright raised their price objective 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. Finally, Citigroup reissued a "buy" rating on shares of Larimar Therapeutics in a report on Tuesday, March 25th. Eight analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Larimar Therapeutics has an average rating of "Buy" and a consensus price target of $19.67.

Larimar Therapeutics Trading Down 6.6%

NASDAQ LRMR opened at $2.42 on Tuesday. The stock has a market capitalization of $154.95 million, a price-to-earnings ratio of -1.62 and a beta of 0.79. The business's 50 day moving average is $2.32 and its two-hundred day moving average is $2.96. Larimar Therapeutics has a 12-month low of $1.61 and a 12-month high of $11.20.

Larimar Therapeutics (NASDAQ:LRMR - Get Free Report) last posted 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). Equities analysts forecast that Larimar Therapeutics will post -1.15 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. BNP Paribas Financial Markets acquired a new stake in Larimar Therapeutics in the 4th quarter valued at about $25,000. Algert Global LLC purchased a new stake in shares of Larimar Therapeutics in the fourth quarter valued at about $47,000. Graham Capital Management L.P. purchased a new stake in shares of Larimar Therapeutics in the fourth quarter valued at about $54,000. ProShare Advisors LLC acquired a new stake in shares of Larimar Therapeutics in the fourth quarter valued at approximately $58,000. Finally, Walleye Capital LLC purchased a new position in shares of Larimar Therapeutics during the 1st quarter worth approximately $37,000. Institutional investors and hedge funds own 91.92% of the company's stock.

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.

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