Larimar Therapeutics, Inc. (NASDAQ:LRMR) Given Average Rating of “Buy” by Analysts

Larimar Therapeutics, Inc. (NASDAQ:LRMR) has received a consensus rating of “Buy” from the ten ratings firms that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, six have given a buy recommendation and three have given a strong buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $16.50.

Several brokerages recently issued reports on LRMR. Weiss Ratings restated a “sell (d-)” rating on shares of Larimar Therapeutics in a research note on Tuesday, April 21st. Citigroup increased their target price on Larimar Therapeutics from $12.00 to $14.00 and gave the stock a “buy” rating in a research report on Wednesday, February 25th. Leerink Partners raised Larimar Therapeutics to a “strong-buy” rating in a research report on Monday, January 5th. Wedbush increased their target price on Larimar Therapeutics from $12.00 to $13.00 and gave the stock an “outperform” rating in a research report on Friday, March 20th. Finally, Lifesci Capital raised Larimar Therapeutics to a “strong-buy” rating in a research report on Tuesday, February 24th.

Larimar Therapeutics Price Performance

Shares of LRMR opened at $3.94 on Monday. The business’s fifty day moving average price is $4.74 and its 200 day moving average price is $4.01. Larimar Therapeutics has a 12-month low of $1.73 and a 12-month high of $6.42. The stock has a market capitalization of $409.29 million, a PE ratio of -1.78 and a beta of 0.91.

Larimar Therapeutics (NASDAQ:LRMR) last announced its quarterly earnings data on Thursday, March 19th. The company reported ($0.73) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.43) by ($0.30). As a group, research analysts anticipate that Larimar Therapeutics will post -1.93 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director James E. Flynn bought 5,000,000 shares of the company’s stock in a transaction on Friday, February 27th. The shares were purchased at an average cost of $5.00 per share, with a total value of $25,000,000.00. Following the completion of the transaction, the director directly owned 10,622,957 shares of the company’s stock, valued at approximately $53,114,785. This represents a 88.92% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 4.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Larimar Therapeutics

Several large investors have recently added to or reduced their stakes in the stock. Deerfield Management Company L.P. increased its position in Larimar Therapeutics by 44.2% in the third quarter. Deerfield Management Company L.P. now owns 30,606,974 shares of the company’s stock worth $98,861,000 after buying an additional 9,375,000 shares during the period. Blue Owl Capital Holdings LP increased its position in Larimar Therapeutics by 16.6% in the fourth quarter. Blue Owl Capital Holdings LP now owns 6,823,690 shares of the company’s stock worth $25,998,000 after buying an additional 970,650 shares during the period. Millennium Management LLC increased its holdings in shares of Larimar Therapeutics by 7.2% during the fourth quarter. Millennium Management LLC now owns 5,206,364 shares of the company’s stock valued at $19,836,000 after purchasing an additional 349,533 shares during the period. Opaleye Management Inc. increased its holdings in shares of Larimar Therapeutics by 114.7% during the second quarter. Opaleye Management Inc. now owns 4,110,000 shares of the company’s stock valued at $11,878,000 after purchasing an additional 2,195,923 shares during the period. Finally, Vanguard Group Inc. increased its holdings in shares of Larimar Therapeutics by 44.2% during the third quarter. Vanguard Group Inc. now owns 3,087,840 shares of the company’s stock valued at $9,974,000 after purchasing an additional 945,809 shares during the period. 91.92% of the stock is owned by institutional investors and hedge funds.

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. Larimar Therapeutics, Inc is based in Bala Cynwyd, Pennsylvania.