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

Shares of Larimar Therapeutics, Inc. (NASDAQ:LRMR) have received a consensus rating of “Buy” from the ten research firms that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, six have issued a buy rating and three have assigned a strong buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $16.3333.

Several brokerages have recently issued reports on LRMR. Wedbush decreased their target price on Larimar Therapeutics from $13.00 to $12.00 and set an “outperform” rating for the company in a research report on Monday, May 18th. Lifesci Capital raised Larimar Therapeutics to a “strong-buy” rating in a report on Tuesday, February 24th. Wall Street Zen raised Larimar Therapeutics from a “strong sell” rating to a “sell” rating in a report on Saturday, May 16th. Citigroup raised their target price on Larimar Therapeutics from $12.00 to $14.00 and gave the stock a “buy” rating in a research note on Wednesday, February 25th. Finally, Truist Financial upgraded Larimar Therapeutics to a “strong-buy” rating in a research note on Wednesday, March 25th.

Insider Buying and Selling

In related news, Director James E. Flynn bought 5,000,000 shares of the business’s stock in a transaction on Friday, February 27th. The stock was acquired at an average price of $5.00 per share, for a total transaction of $25,000,000.00. Following the purchase, the director directly owned 10,622,957 shares in the company, valued at $53,114,785. This trade represents a 88.92% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 4.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in LRMR. Deerfield Management Company L.P. boosted its stake in Larimar Therapeutics by 44.2% in the 3rd quarter. Deerfield Management Company L.P. now owns 30,606,974 shares of the company’s stock worth $98,861,000 after purchasing an additional 9,375,000 shares during the period. Opaleye Management Inc. boosted its stake in Larimar Therapeutics by 114.7% in the 2nd quarter. Opaleye Management Inc. now owns 4,110,000 shares of the company’s stock worth $11,878,000 after purchasing an additional 2,195,923 shares during the period. Woodline Partners LP boosted its stake in Larimar Therapeutics by 160.6% in the 3rd quarter. Woodline Partners LP now owns 1,622,850 shares of the company’s stock worth $5,242,000 after purchasing an additional 1,000,168 shares during the period. AIGH Capital Management LLC boosted its stake in Larimar Therapeutics by 100.0% in the 4th quarter. AIGH Capital Management LLC now owns 2,000,000 shares of the company’s stock worth $7,620,000 after purchasing an additional 1,000,000 shares during the period. Finally, Blue Owl Capital Holdings LP boosted its stake in Larimar Therapeutics by 16.6% in the 4th quarter. Blue Owl Capital Holdings LP now owns 6,823,690 shares of the company’s stock worth $25,998,000 after purchasing an additional 970,650 shares during the period. Institutional investors own 91.92% of the company’s stock.

Larimar Therapeutics Price Performance

Shares of Larimar Therapeutics stock opened at $3.47 on Friday. Larimar Therapeutics has a 1 year low of $1.80 and a 1 year high of $6.42. The firm has a market cap of $360.46 million, a PE ratio of -1.68 and a beta of 0.91. The stock has a fifty day moving average price of $4.36 and a 200-day moving average price of $3.97.

Larimar Therapeutics (NASDAQ:LRMR) last announced its earnings results on Thursday, May 14th. The company reported ($0.31) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.53) by $0.22. As a group, equities analysts anticipate that Larimar Therapeutics will post -1.64 EPS for the current fiscal year.

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.