Larimar Therapeutics’ (LRMR) Buy Rating Reiterated at Guggenheim

Larimar Therapeutics (NASDAQ:LRMR)‘s stock had its “buy” rating restated by research analysts at Guggenheim in a report released on Tuesday,Benzinga reports. They currently have a $26.00 price target on the stock.

A number of other brokerages have also issued reports on LRMR. HC Wainwright upped their price objective on shares of Larimar Therapeutics from $15.00 to $16.00 and gave the company a “buy” rating in a report on Tuesday. Truist Financial started coverage on Larimar Therapeutics in a research note on Wednesday, January 29th. They set a “buy” rating and a $18.00 price target on the stock. Finally, Robert W. Baird dropped their price objective on Larimar Therapeutics from $13.00 to $10.00 and set an “outperform” rating for the company in a research note on Tuesday. Eleven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $20.22.

Larimar Therapeutics Stock Up 1.5 %

Shares of NASDAQ LRMR traded up $0.04 during trading on Tuesday, hitting $2.32. The company had a trading volume of 160,375 shares, compared to its average volume of 610,044. Larimar Therapeutics has a fifty-two week low of $2.22 and a fifty-two week high of $11.20. The firm has a market capitalization of $147.71 million, a price-to-earnings ratio of -2.01 and a beta of 0.99. The stock has a fifty day simple moving average of $3.16 and a two-hundred day simple moving average of $5.24.

Larimar Therapeutics (NASDAQ:LRMR) last announced its quarterly earnings data on Monday, March 24th. The company reported ($0.45) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.29) by ($0.16). On average, analysts anticipate that Larimar Therapeutics will post -1.15 earnings per share for the current year.

Institutional Trading of Larimar Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the company. Barclays PLC lifted its stake in Larimar Therapeutics by 321.2% in the third quarter. Barclays PLC now owns 60,032 shares of the company’s stock valued at $393,000 after buying an additional 45,781 shares during the last quarter. Janus Henderson Group PLC raised its position in Larimar Therapeutics by 27.2% in the 3rd quarter. Janus Henderson Group PLC now owns 5,566,855 shares of the company’s stock valued at $36,379,000 after purchasing an additional 1,189,467 shares during the last quarter. SG Americas Securities LLC boosted its stake in Larimar Therapeutics by 35.1% during the 4th quarter. SG Americas Securities LLC now owns 19,391 shares of the company’s stock worth $75,000 after purchasing an additional 5,042 shares during the period. XTX Topco Ltd acquired a new stake in Larimar Therapeutics during the 3rd quarter worth $100,000. Finally, Franklin Resources Inc. increased its stake in Larimar Therapeutics by 21.9% in the third quarter. Franklin Resources Inc. now owns 19,723 shares of the company’s stock valued at $143,000 after purchasing an additional 3,549 shares during the period. 91.92% of the stock is owned by hedge funds and other institutional investors.

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.