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

Larimar Therapeutics, Inc. (NASDAQ:LRMR) has earned a consensus rating of “Moderate Buy” from the ten research firms that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation and nine have issued a buy recommendation on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $16.7143.

Several equities analysts recently commented on the stock. JMP Securities decreased their price target on shares of Larimar Therapeutics from $22.00 to $18.00 and set a “market outperform” rating on the stock in a research note on Friday, August 15th. Wedbush cut their price objective on shares of Larimar Therapeutics from $15.00 to $11.00 and set an “outperform” rating for the company in a research report on Tuesday, September 30th. Oppenheimer cut their price objective on shares of Larimar Therapeutics from $26.00 to $21.00 and set an “outperform” rating for the company in a research report on Thursday, October 2nd. Citigroup reaffirmed a “buy” rating on shares of Larimar Therapeutics in a research report on Tuesday, June 24th. Finally, Robert W. Baird cut their price objective on shares of Larimar Therapeutics from $10.00 to $7.00 and set an “outperform” rating for the company in a research report on Tuesday, September 30th.

Larimar Therapeutics Price Performance

NASDAQ:LRMR opened at $4.25 on Thursday. Larimar Therapeutics has a one year low of $1.61 and a one year high of $9.50. The company has a market cap of $351.82 million, a P/E ratio of -2.72 and a beta of 1.00. The firm’s fifty day moving average price is $4.06 and its two-hundred day moving average price is $3.10.

Larimar Therapeutics (NASDAQ:LRMR) last released its quarterly earnings data on Thursday, August 14th. The company reported ($0.41) EPS for the quarter, beating the consensus estimate of ($0.47) by $0.06. As a group, equities research analysts expect that Larimar Therapeutics will post -1.15 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director James E. Flynn acquired 9,375,000 shares of the business’s stock in a transaction that occurred on Thursday, July 31st. The stock was acquired at an average price of $3.20 per share, with a total value of $30,000,000.00. Following the completion of the transaction, the director directly owned 9,538,945 shares of the company’s stock, valued at $30,524,624. This trade represents a 5,718.38% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 4.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Walleye Capital LLC bought a new position in shares of Larimar Therapeutics in the first quarter worth about $37,000. Savant Capital LLC bought a new position in shares of Larimar Therapeutics in the second quarter worth about $39,000. Wealth Enhancement Advisory Services LLC bought a new position in shares of Larimar Therapeutics in the second quarter worth about $44,000. Algert Global LLC lifted its holdings in shares of Larimar Therapeutics by 91.0% in the first quarter. Algert Global LLC now owns 23,280 shares of the company’s stock worth $50,000 after acquiring an additional 11,090 shares during the last quarter. Finally, Next Level Private LLC bought a new position in shares of Larimar Therapeutics in the second quarter worth about $58,000. Institutional investors own 91.92% of the company’s stock.

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.