Larimar Therapeutics (NASDAQ:LRMR) Receives "Outperform" Rating from Leerink Partnrs

Leerink Partnrs restated their outperform rating on shares of Larimar Therapeutics (NASDAQ:LRMR - Free Report) in a research report released on Wednesday morning, Zacks.com reports. Leerink Partnrs also issued estimates for Larimar Therapeutics' FY2026 earnings at ($2.65) EPS, FY2027 earnings at ($2.41) EPS and FY2028 earnings at ($1.75) EPS.

Several other analysts have also recently weighed in on the stock. Citigroup raised their target price on shares of Larimar Therapeutics from $4.50 to $10.00 and gave the company a buy rating in a report on Tuesday, February 13th. JMP Securities reaffirmed a market outperform rating and issued a $25.00 target price on shares of Larimar Therapeutics in a report on Friday, March 15th. Lifesci Capital reaffirmed an outperform rating on shares of Larimar Therapeutics in a report on Tuesday, February 20th. Finally, SVB Leerink assumed coverage on shares of Larimar Therapeutics in a report on Wednesday. They issued an outperform rating and a $25.00 target price on the stock. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Larimar Therapeutics has a consensus rating of Buy and an average price target of $18.50.

Larimar Therapeutics Stock Down 5.8 %

NASDAQ:LRMR traded down $0.45 on Wednesday, reaching $7.27. 365,796 shares of the company's stock were exchanged, compared to its average volume of 607,243. The firm has a market capitalization of $463.83 million, a price-to-earnings ratio of -8.55 and a beta of 0.93. Larimar Therapeutics has a 52-week low of $2.18 and a 52-week high of $13.68. The business has a fifty day moving average of $8.96 and a 200-day moving average of $5.54.

Larimar Therapeutics (NASDAQ:LRMR - Get Free Report) last posted its quarterly earnings data on Thursday, March 14th. The company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.05). As a group, equities analysts anticipate that Larimar Therapeutics will post -1.17 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director James E. Flynn acquired 4,290,617 shares of the business's stock in a transaction on Friday, February 16th. The shares were bought at an average price of $8.74 per share, with a total value of $37,499,992.58. Following the completion of the acquisition, the director now owns 6,151,406 shares in the company, valued at $53,763,288.44. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 4.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Larimar Therapeutics

A number of institutional investors have recently modified their holdings of LRMR. Verition Fund Management LLC increased its holdings in shares of Larimar Therapeutics by 80.0% in the 1st quarter. Verition Fund Management LLC now owns 424,599 shares of the company's stock valued at $1,720,000 after acquiring an additional 188,764 shares during the period. Golden State Equity Partners increased its holdings in shares of Larimar Therapeutics by 21.6% in the 1st quarter. Golden State Equity Partners now owns 30,415 shares of the company's stock valued at $123,000 after acquiring an additional 5,400 shares during the period. Bank of America Corp DE increased its holdings in shares of Larimar Therapeutics by 60.3% in the 1st quarter. Bank of America Corp DE now owns 116,223 shares of the company's stock valued at $471,000 after acquiring an additional 43,713 shares during the period. Tower Research Capital LLC TRC increased its holdings in shares of Larimar Therapeutics by 836.8% in the 3rd quarter. Tower Research Capital LLC TRC now owns 11,822 shares of the company's stock valued at $38,000 after acquiring an additional 10,560 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Larimar Therapeutics by 18.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 29,212 shares of the company's stock valued at $93,000 after acquiring an additional 4,474 shares during the period. 91.92% of the stock is owned by institutional investors and hedge funds.

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.