Larimar Therapeutics (NASDAQ:LRMR) Given Buy Rating at Guggenheim

Guggenheim reissued their buy rating on shares of Larimar Therapeutics (NASDAQ:LRMR) in a research report report published on Tuesday,Benzinga reports. Guggenheim currently has a $26.00 price objective on the stock.

Several other research analysts also recently commented on LRMR. HC Wainwright lifted their target price on Larimar Therapeutics from $15.00 to $16.00 and gave the stock a “buy” rating in a research note on Tuesday. Truist Financial assumed coverage on shares of Larimar Therapeutics in a research note on Wednesday, January 29th. They issued a “buy” rating and a $18.00 price target on the stock. Finally, Robert W. Baird reduced their price objective on Larimar Therapeutics from $13.00 to $10.00 and set an “outperform” rating for the company in a report on Tuesday. Eleven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Larimar Therapeutics presently has an average rating of “Buy” and a consensus price target of $20.22.

Larimar Therapeutics Price Performance

Shares of LRMR stock opened at $2.38 on Tuesday. The company has a fifty day moving average price of $3.10 and a two-hundred day moving average price of $5.16. Larimar Therapeutics has a one year low of $2.19 and a one year high of $11.20. The stock has a market cap of $151.54 million, a P/E ratio of -2.07 and a beta of 0.99.

Larimar Therapeutics (NASDAQ:LRMR) last issued its earnings results 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). As a group, equities research analysts anticipate that Larimar Therapeutics will post -1.15 EPS for the current fiscal year.

Institutional Investors Weigh In On Larimar Therapeutics

Several institutional investors have recently made changes to their positions in LRMR. Janus Henderson Group PLC increased its stake in Larimar Therapeutics by 27.2% during the 3rd quarter. Janus Henderson Group PLC now owns 5,566,855 shares of the company’s stock worth $36,379,000 after acquiring an additional 1,189,467 shares during the period. Blue Owl Capital Holdings LP grew its holdings in shares of Larimar Therapeutics by 11.7% during the 4th quarter. Blue Owl Capital Holdings LP now owns 4,653,040 shares of the company’s stock worth $18,007,000 after purchasing an additional 486,211 shares in the last quarter. Adage Capital Partners GP L.L.C. increased its position in shares of Larimar Therapeutics by 23.5% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 2,100,000 shares of the company’s stock worth $8,127,000 after purchasing an additional 399,123 shares during the period. Alyeska Investment Group L.P. raised its stake in Larimar Therapeutics by 38.6% in the fourth quarter. Alyeska Investment Group L.P. now owns 984,077 shares of the company’s stock valued at $3,808,000 after purchasing an additional 273,920 shares in the last quarter. Finally, Cubist Systematic Strategies LLC lifted its position in Larimar Therapeutics by 278.8% during the fourth quarter. Cubist Systematic Strategies LLC now owns 233,873 shares of the company’s stock worth $905,000 after purchasing an additional 172,131 shares during the period. 91.92% of the stock is currently owned by institutional investors.

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.