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

Shares of Larimar Therapeutics, Inc. (NASDAQ:LRMR) have received an average recommendation of “Buy” from the eleven research firms that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, seven have assigned a buy rating and three have assigned a strong buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $12.7143.

LRMR has been the subject of a number of research reports. Citigroup reissued a “buy” rating on shares of Larimar Therapeutics in a report on Tuesday, June 30th. Wedbush dropped their price objective on shares of Larimar Therapeutics from $13.00 to $12.00 and set an “outperform” rating on the stock in a report on Monday, May 18th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Larimar Therapeutics in a research report on Tuesday, April 21st. HC Wainwright began coverage on shares of Larimar Therapeutics in a research note on Thursday, July 2nd. They issued a “buy” rating and a $10.00 target price for the company. Finally, Wall Street Zen raised Larimar Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 16th.

Insider Buying and Selling

In other news, Director Thomas Edward Hamilton acquired 50,000 shares of Larimar Therapeutics stock in a transaction on Monday, July 6th. The stock was bought at an average price of $3.34 per share, for a total transaction of $167,000.00. Following the transaction, the director owned 714,798 shares of the company’s stock, valued at $2,387,425.32. The trade was a 7.52% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 4.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of LRMR. AQR Capital Management LLC bought a new stake in Larimar Therapeutics in the 1st quarter valued at $241,000. Acadian Asset Management LLC bought a new position in shares of Larimar Therapeutics during the 1st quarter worth about $113,000. Rhumbline Advisers lifted its holdings in shares of Larimar Therapeutics by 15.7% during the 1st quarter. Rhumbline Advisers now owns 65,018 shares of the company’s stock worth $140,000 after acquiring an additional 8,818 shares during the period. American Century Companies Inc. boosted its position in shares of Larimar Therapeutics by 7.8% during the 2nd quarter. American Century Companies Inc. now owns 69,285 shares of the company’s stock valued at $200,000 after acquiring an additional 5,001 shares in the last quarter. Finally, Cerity Partners LLC bought a new stake in Larimar Therapeutics in the second quarter valued at about $636,000. 91.92% of the stock is currently owned by institutional investors and hedge funds.

Larimar Therapeutics Trading Up 3.6%

LRMR traded up $0.15 during midday trading on Friday, reaching $4.28. The company’s stock had a trading volume of 3,445,373 shares, compared to its average volume of 2,851,559. The stock has a market cap of $444.61 million, a P/E ratio of -2.08 and a beta of 0.83. The company has a fifty day simple moving average of $3.57 and a 200 day simple moving average of $3.94. Larimar Therapeutics has a twelve month low of $2.71 and a twelve month high of $6.42.

Larimar Therapeutics (NASDAQ:LRMR) last issued its quarterly earnings results on Thursday, May 14th. The company reported ($0.31) EPS for the quarter, topping analysts’ consensus estimates of ($0.53) by $0.22. Sell-side analysts expect that Larimar Therapeutics will post -1.65 earnings per share for the current year.

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