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

Shares of Larimar Therapeutics, Inc. (NASDAQ:LRMR) have received a consensus recommendation of “Buy” from the eleven brokerages that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, seven have issued a buy recommendation and three have issued a strong buy recommendation on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $15.2857.

Several analysts recently issued reports on the company. JPMorgan Chase & Co. assumed coverage on Larimar Therapeutics in a research note on Wednesday, May 27th. They set an “overweight” rating and a $9.00 target price on the stock. Wall Street Zen raised Larimar Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 16th. Truist Financial raised Larimar Therapeutics to a “strong-buy” rating in a research note on Wednesday, March 25th. Citigroup lifted their target price on Larimar Therapeutics from $12.00 to $14.00 and gave the company a “buy” rating in a research note on Wednesday, February 25th. Finally, Lifesci Capital raised Larimar Therapeutics to a “strong-buy” rating in a research note on Tuesday, February 24th.

Institutional Trading of Larimar Therapeutics

A number of large investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets increased its stake in Larimar Therapeutics by 75.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 10,146 shares of the company’s stock worth $33,000 after acquiring an additional 4,376 shares during the last quarter. American Century Companies Inc. increased its stake in Larimar Therapeutics by 7.8% in the 2nd quarter. American Century Companies Inc. now owns 69,285 shares of the company’s stock worth $200,000 after acquiring an additional 5,001 shares during the last quarter. Sei Investments Co. increased its stake in Larimar Therapeutics by 54.5% in the 1st quarter. Sei Investments Co. now owns 16,336 shares of the company’s stock worth $74,000 after acquiring an additional 5,763 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in Larimar Therapeutics by 26.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 29,008 shares of the company’s stock worth $111,000 after acquiring an additional 6,038 shares during the last quarter. Finally, Bank of America Corp DE increased its stake in Larimar Therapeutics by 17.0% in the 1st quarter. Bank of America Corp DE now owns 47,359 shares of the company’s stock worth $213,000 after acquiring an additional 6,886 shares during the last quarter. Institutional investors own 91.92% of the company’s stock.

Larimar Therapeutics Stock Up 0.5%

LRMR stock opened at $3.66 on Tuesday. Larimar Therapeutics has a twelve month low of $2.22 and a twelve month high of $6.42. The stock has a market cap of $380.20 million, a P/E ratio of -1.78 and a beta of 0.83. The business’s 50-day moving average price is $3.89 and its 200-day moving average price is $3.97.

Larimar Therapeutics (NASDAQ:LRMR) last posted its quarterly earnings data on Thursday, May 14th. The company reported ($0.31) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.53) by $0.22. On average, equities research analysts expect that Larimar Therapeutics will post -1.66 earnings per share 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.