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

Guggenheim reaffirmed their buy rating on shares of Larimar Therapeutics (NASDAQ:LRMR) in a research note published on Tuesday morning,Benzinga reports. They currently have a $26.00 price objective on the stock.

Other equities analysts also recently issued research reports about the stock. Robert W. Baird decreased their price objective on shares of Larimar Therapeutics from $13.00 to $10.00 and set an “outperform” rating for the company in a research note on Tuesday. HC Wainwright upped their target price on Larimar Therapeutics from $15.00 to $16.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, 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. Eleven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $20.22.

Larimar Therapeutics Price Performance

Larimar Therapeutics stock opened at $2.31 on Tuesday. The stock has a market cap of $147.39 million, a PE ratio of -2.01 and a beta of 0.99. The stock’s fifty day moving average is $3.14 and its two-hundred day moving average is $5.20. Larimar Therapeutics has a 1-year low of $2.22 and a 1-year high of $11.20.

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

Institutional Investors Weigh In On Larimar Therapeutics

Several large investors have recently modified their holdings of LRMR. BNP Paribas Financial Markets acquired a new position in Larimar Therapeutics in the 4th quarter valued at $25,000. Quest Partners LLC boosted its holdings in shares of Larimar Therapeutics by 171.1% in the third quarter. Quest Partners LLC now owns 9,183 shares of the company’s stock valued at $60,000 after acquiring an additional 5,796 shares in the last quarter. Virtu Financial LLC acquired a new position in shares of Larimar Therapeutics during the third quarter worth about $71,000. Quarry LP raised its holdings in Larimar Therapeutics by 50.0% during the third quarter. Quarry LP now owns 12,000 shares of the company’s stock worth $79,000 after purchasing an additional 4,000 shares in the last quarter. Finally, Algert Global LLC purchased a new position in Larimar Therapeutics during the fourth quarter worth about $47,000. Hedge funds and other 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.