Guggenheim Reaffirms Buy Rating for Larimar Therapeutics (NASDAQ:LRMR)

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

A number of other brokerages have also issued reports on LRMR. HC Wainwright lifted their price target on Larimar Therapeutics from $15.00 to $16.00 and gave the stock a "buy" rating in a research note on Tuesday, March 25th. Citigroup restated a "buy" rating on shares of Larimar Therapeutics in a report on Tuesday, March 25th. Finally, Robert W. Baird dropped their target price on shares of Larimar Therapeutics from $13.00 to $10.00 and set an "outperform" rating for the company in a report on Tuesday, March 25th. Eight research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $18.50.

Larimar Therapeutics Stock Performance

Shares of Larimar Therapeutics stock traded down $0.07 on Tuesday, hitting $3.02. The company's stock had a trading volume of 515,917 shares, compared to its average volume of 844,124. The company has a market capitalization of $193.05 million, a price-to-earnings ratio of -2.02 and a beta of 0.79. Larimar Therapeutics has a 1 year low of $1.61 and a 1 year high of $11.20. The firm has a fifty day moving average price of $2.39 and a 200-day moving average price of $2.94.

Larimar Therapeutics (NASDAQ:LRMR - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The company reported ($0.46) earnings per share for the quarter, missing the consensus estimate of ($0.42) by ($0.04). As a group, analysts forecast that Larimar Therapeutics will post -1.15 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Janus Henderson Group PLC raised its position 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 valued at $24,936,000 after buying an additional 876,431 shares during the period. Blue Owl Capital Holdings LP grew its stake in shares of Larimar Therapeutics by 11.7% in the fourth quarter. Blue Owl Capital Holdings LP now owns 4,653,040 shares of the company's stock valued at $18,007,000 after buying an additional 486,211 shares in the last quarter. Alyeska Investment Group L.P. raised its holdings in shares of Larimar Therapeutics by 46.6% in the 1st quarter. Alyeska Investment Group L.P. now owns 1,442,473 shares of the company's stock valued at $3,101,000 after buying an additional 458,396 shares during the period. Adage Capital Partners GP L.L.C. lifted its stake in 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 acquiring an additional 399,123 shares in the last quarter. Finally, Nuveen LLC purchased a new position in Larimar Therapeutics during the 1st quarter valued at about $376,000. Hedge funds and other institutional investors 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.