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

Larimar Therapeutics, Inc. (NASDAQ:LRMR) has earned an average recommendation of “Buy” from the eleven analysts that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, seven have issued a buy recommendation and three have given a strong buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $12.7143.

A number of analysts recently weighed in on LRMR shares. Citigroup reaffirmed a “buy” rating on shares of Larimar Therapeutics in a research report on Tuesday, June 30th. Weiss Ratings reissued a “sell (d-)” rating on shares of Larimar Therapeutics in a research report on Tuesday, April 21st. HC Wainwright started coverage on Larimar Therapeutics in a research note on Thursday, July 2nd. They set a “buy” rating and a $10.00 price objective on the stock. Wall Street Zen upgraded Larimar Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 16th. Finally, Truist Financial upgraded Larimar Therapeutics to a “strong-buy” rating in a report on Wednesday, March 25th.

Insiders Place Their Bets

In other news, Director Thomas Edward Hamilton acquired 50,000 shares of the stock in a transaction on Monday, July 6th. The stock was bought at an average price of $3.34 per share, with a total value of $167,000.00. Following the completion of the transaction, the director directly 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 4.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Larimar Therapeutics

A number of large investors have recently added to or reduced their stakes in LRMR. BNP Paribas Financial Markets increased its stake in Larimar Therapeutics by 75.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 10,146 shares of the company’s stock worth $33,000 after buying an additional 4,376 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Larimar Therapeutics during the fourth quarter valued at about $60,000. Sei Investments Co. grew its stake in shares of Larimar Therapeutics by 54.5% during the first quarter. Sei Investments Co. now owns 16,336 shares of the company’s stock valued at $74,000 after acquiring an additional 5,763 shares in the last quarter. Coldstream Capital Management Inc. acquired a new stake in shares of Larimar Therapeutics during the third quarter valued at about $57,000. Finally, Strs Ohio increased its position in shares of Larimar Therapeutics by 174.7% during the first quarter. Strs Ohio now owns 21,700 shares of the company’s stock worth $98,000 after acquiring an additional 13,800 shares during the last quarter. 91.92% of the stock is owned by institutional investors and hedge funds.

Larimar Therapeutics Stock Up 0.8%

LRMR opened at $3.70 on Friday. Larimar Therapeutics has a 52-week low of $2.71 and a 52-week high of $6.42. The company has a 50 day moving average of $3.54 and a two-hundred day moving average of $3.93. The company has a market cap of $384.37 million, a P/E ratio of -1.80 and a beta of 0.83.

Larimar Therapeutics (NASDAQ:LRMR) last released its quarterly earnings data on Thursday, May 14th. The company reported ($0.31) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.53) by $0.22. Research analysts anticipate 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.