Larimar Therapeutics, Inc. (NASDAQ:LRMR) Receives Average Recommendation of “Buy” from Brokerages

Larimar Therapeutics, Inc. (NASDAQ:LRMR) has been given a consensus rating of “Buy” by the ten research firms that are covering the company, Marketbeat Ratings reports. Nine research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $19.63.

A number of research firms recently commented on LRMR. HC Wainwright increased their price objective on Larimar Therapeutics from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Tuesday, March 25th. Truist Financial began coverage on Larimar Therapeutics in a research note on Wednesday, January 29th. They set a “buy” rating and a $18.00 price objective on the stock. Guggenheim reaffirmed a “buy” rating and set a $26.00 price objective on shares of Larimar Therapeutics in a research note on Tuesday, March 25th. Citigroup reaffirmed a “buy” rating on shares of Larimar Therapeutics in a research note on Tuesday, March 25th. Finally, Robert W. Baird decreased 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.

Larimar Therapeutics Stock Performance

Larimar Therapeutics stock opened at $1.98 on Monday. The firm has a market capitalization of $126.78 million, a price-to-earnings ratio of -1.72 and a beta of 0.93. Larimar Therapeutics has a fifty-two week low of $1.61 and a fifty-two week high of $11.20. The stock’s fifty day moving average is $2.20 and its two-hundred day moving average is $3.80.

Larimar Therapeutics (NASDAQ:LRMR) last posted its quarterly earnings data on Wednesday, April 30th. The company reported ($0.46) EPS for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.04). As a group, sell-side analysts forecast that Larimar Therapeutics will post -1.15 EPS for the current fiscal year.

Hedge Funds Weigh In On Larimar Therapeutics

Several large investors have recently added to or reduced their stakes in LRMR. Janus Henderson Group PLC lifted its position in Larimar Therapeutics by 15.7% during the fourth quarter. Janus Henderson Group PLC now owns 6,443,286 shares of the company’s stock worth $24,936,000 after buying an additional 876,431 shares during the period. Blue Owl Capital Holdings LP lifted its position in Larimar Therapeutics by 11.7% during the fourth quarter. Blue Owl Capital Holdings LP now owns 4,653,040 shares of the company’s stock worth $18,007,000 after buying an additional 486,211 shares during the period. 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 worth $3,101,000 after purchasing an additional 458,396 shares during the period. Adage Capital Partners GP L.L.C. raised its holdings in shares of Larimar Therapeutics by 23.5% in 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. Finally, Nuveen LLC purchased a new position in shares of Larimar Therapeutics in the 1st quarter worth about $376,000. 91.92% of the stock is currently owned by hedge funds and other institutional investors.

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.