Lifesci Capital Upgrades Larimar Therapeutics (NASDAQ:LRMR) to “Strong-Buy”

Larimar Therapeutics (NASDAQ:LRMR) was upgraded by research analysts at Lifesci Capital to a “strong-buy” rating in a research report issued on Tuesday,Zacks.com reports.

LRMR has been the subject of several other research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Larimar Therapeutics in a research note on Thursday, January 22nd. Leerink Partners upgraded shares of Larimar Therapeutics to a “strong-buy” rating in a research note on Monday, January 5th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, Larimar Therapeutics presently has a consensus rating of “Buy” and a consensus target price of $16.50.

Larimar Therapeutics Trading Up 31.3%

LRMR opened at $3.69 on Tuesday. The stock has a fifty day moving average price of $3.44 and a 200 day moving average price of $3.76. Larimar Therapeutics has a 1 year low of $1.61 and a 1 year high of $5.37. The stock has a market cap of $305.45 million, a price-to-earnings ratio of -1.91 and a beta of 1.01.

Institutional Investors Weigh In On Larimar Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. AQR Capital Management LLC acquired a new position in Larimar Therapeutics during the first quarter valued at approximately $241,000. Acadian Asset Management LLC bought a new stake in shares of Larimar Therapeutics during the 1st quarter worth $113,000. Rhumbline Advisers grew its stake in Larimar Therapeutics by 15.7% in the 1st quarter. Rhumbline Advisers now owns 65,018 shares of the company’s stock valued at $140,000 after buying an additional 8,818 shares during the last quarter. CWM LLC grew its stake in Larimar Therapeutics by 205.0% in the 2nd quarter. CWM LLC now owns 32,652 shares of the company’s stock valued at $94,000 after buying an additional 21,948 shares during the last quarter. Finally, Ethic Inc. bought a new position in Larimar Therapeutics in the 2nd quarter worth $187,000. 91.92% of the stock is currently 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.