Larimar Therapeutics' (LRMR) Market Outperform Rating Reaffirmed at JMP Securities

Larimar Therapeutics (NASDAQ:LRMR - Get Free Report)'s stock had its "market outperform" rating restated by research analysts at JMP Securities in a report issued on Tuesday, Benzinga reports. They presently have a $25.00 target price on the stock. JMP Securities' price target would indicate a potential upside of 216.86% from the company's current price.

A number of other analysts have also recently weighed in on the stock. Citigroup boosted their target price on shares of Larimar Therapeutics from $4.50 to $10.00 and gave the stock a "buy" rating in a research note on Tuesday, February 13th. Leerink Partnrs reaffirmed an "outperform" rating on shares of Larimar Therapeutics in a report on Wednesday, April 3rd. Lifesci Capital reiterated an "outperform" rating on shares of Larimar Therapeutics in a research report on Tuesday, February 20th. Finally, SVB Leerink assumed coverage on Larimar Therapeutics in a report on Wednesday, April 3rd. They set an "outperform" rating and a $25.00 price target on the stock. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Larimar Therapeutics currently has an average rating of "Buy" and a consensus target price of $20.00.

Larimar Therapeutics Stock Up 8.5 %

Shares of NASDAQ:LRMR traded up $0.62 during midday trading on Tuesday, hitting $7.89. The stock had a trading volume of 3,010,914 shares, compared to its average volume of 534,714. The company's 50-day moving average price is $7.49 and its 200-day moving average price is $6.41. Larimar Therapeutics has a fifty-two week low of $2.18 and a fifty-two week high of $13.68. The company has a market capitalization of $503.40 million, a P/E ratio of -8.51 and a beta of 0.96.

Larimar Therapeutics (NASDAQ:LRMR - Get Free Report) last posted its quarterly earnings results on Thursday, May 9th. The company reported ($0.27) earnings per share for the quarter, missing analysts' consensus estimates of ($0.24) by ($0.03). Research analysts expect that Larimar Therapeutics will post -1.29 EPS for the current fiscal year.

Hedge Funds Weigh In On Larimar Therapeutics

A number of hedge funds have recently made changes to their positions in LRMR. Pale Fire Capital SE bought a new position in shares of Larimar Therapeutics during the third quarter worth about $48,000. SG Americas Securities LLC grew its stake in Larimar Therapeutics by 27.3% during the fourth quarter. SG Americas Securities LLC now owns 14,159 shares of the company's stock worth $64,000 after purchasing an additional 3,039 shares during the period. EntryPoint Capital LLC acquired a new stake in Larimar Therapeutics during the first quarter worth approximately $106,000. Virtu Financial LLC acquired a new stake in Larimar Therapeutics during the first quarter worth approximately $133,000. Finally, Fred Alger Management LLC grew its stake in Larimar Therapeutics by 22.5% during the third quarter. Fred Alger Management LLC now owns 116,269 shares of the company's stock worth $459,000 after purchasing an additional 21,331 shares during the period. 91.92% of the stock is currently owned by institutional investors.

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.